SEOUL METROPOLITAN GOVERNMENT ENFORCEMENT RULE OF THE ORDINANCE ON SUPPORT FOR FOREIGN INVESTMENT
- Enactment No. 3458, Nov. 17, 2005
- Partial Amendment No. 3516, Nov. 16, 2006
- Amendment of Other Laws No. 3549, May. 31, 2007
- Partial Amendment No. 3575, Sep. 13, 2007
- Amendment of Other Laws No. 3598, Jan. 31, 2008
- Partial Amendment No. 3756, Jul. 01, 2010
- Amendment of Other Laws No. 3831, Dec. 29, 2011
- Partial Amendment No. 3867, Aug. 09, 2012
- Partial Amendment No. 4092, Jun. 02, 2016
- Amendment of Other Laws No. 4303, Oct. 10, 2019
- Partial Amendment No. 4369, Oct. 15, 2020
- Amendment of Other Laws No. 4461, Jan. 13, 2022
Amendment of Other Laws No. 3831, Dec. 29, 2011 | Partial Amendment No. 3867, Aug. 09, 2012 |
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In translation
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Article 1 (Purpose)
The purpose of this Rule is to provide for matters necessary for the enforcement of the Seoul Metropolitan Government Ordinance on Support for Foreign Investment. <Amended by Rule No. 3867, Aug. 9, 2012>
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Article 2 (Definitions)
The terms used in this Rule shall be defined as follows: <Amended by Rule No. 3575, Sep. 13, 2007; Rule No. 3756, Jul. 1, 2010; Rule No. 3867, Aug. 9, 2012>
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Article 3 (Scope of Medium and Small Enterprises)
"Medium and small enterprises" in Article 7 of the Seoul Metropolitan Government Ordinance on Support for Foreign Investment (hereinafter referred to as the "Ordinance") refers to the medium and small enterprises defined in Article 2 of the Framework Act on Small and Medium Enterprises.
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Article 4 (Guidelines for Payment of Rewards)
(1) The results of inducement of foreign investment under Article 8 of the Ordinance shall be categorized by type of business, and the amount of a reward payable shall be calculated in accordance with Table 1 attached hereto. <Amended by Rule No. 3756, Jul. 1, 2010; Rule No. 3867, Aug. 9, 2012>
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Article 5 (Procedure for Payment of Rewards) (1) In order to pay a reward, the division primarily responsible for foreign-investment-induced businesses shall prepare a report on the payment of the reward in Form 1 attached hereto. In such cases, the degree of contribution to the inducement of the investment at each stage, such as negotiations for the inducement of the foreign investment and the execution of a memorandum of understanding, shall be taken into consideration.
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Article 6 (Guidelines for Payment of Subsidies)
The employment subsidy and the subsidy for education and training under Articles 15 and 16 of the Ordinance shall be paid in accordance with the following guidelines, which shall not exceed 200 million won per foreign-invested enterprise. In such cases, new employment or education and training resulting from foreign investment shall be realized within five years from the day on which the relevant investment is made (if an additional investment is made, within five years from the day on which such additional investment is made):
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Article 7 (Procedure for Payment of Subsidies)
(1) A foreign-invested enterprise that intends to receive an employment subsidy or a subsidy for education and training shall file an application for subsidization in Form 2 attached hereto with the Mayor in accordance with Table 2 attached hereto.
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Article 8 (Follow-up Management of Payment, etc. of Subsidies)
(1) A foreign-invested enterprise shall maintain the number of full-time employees and the foreign investment ratio at least 30/100 greater than those in the year immediately preceding the year in which an application for subsidization is filed, for three years after the year in which it receives the subsidy.
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Article 9 (Eligibility for Relaxation of Restrictions on Construction Works, etc.) "Foreign-invested enterprises that are recognized to have a great impact on the regional economy" in Article 19 of the Ordinance mean any of the following enterprises: <Amended by Rule No. 3575, Sep. 13, 2007>
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Article 10 (Committee for Deliberation on Support for Inducement of Foreign Investment)
(1) In order to deliberate on matters concerning the grant of rewards, employment subsidies, and education or training subsidies under Articles 4, 6, and 7, the Mayor shall have a committee for deliberation on support for inducement of foreign investment under his/her control. <Amended by Rule No. 3756, Jul. 1, 2010>
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Article 11 (Exclusion and Abstention of Committee Members) (1) If a committee member or the chairperson has a direct interest in a case brought before the committee for deliberation, such a committee member or the chairperson shall not be permitted to participate in the deliberation and resolution on the case.
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ADDENDA |