Article 1 (Purpose) The purpose of this Ordinance is to promote the inducement of foreign investment and thereby contribute to the economic vitalization of Seoul Special Metropolitan City, by providing for matters delegated by the Foreign Investment Promotion Act and the Enforcement Decree thereof as well as for those concerning foreign investment and support for inducement activities related thereto.

Article 2 (Definitions) The definitions of terms used in this Ordinance shall be as follows:
1. The term "foreign investment" has the same meaning as defined in Article 2 (1) 4 of the Foreign Investment Promotion Act (hereinafter referred to as the "Act"); <Amended by Ordinance No. 4591, Dec. 26, 2007>
2. The term "foreign-invested enterprise" means any enterprise invested by foreign investors as provided in Article 2 (1) 5 and 6 of the Act and engaging in business in any jurisdictional area of the Seoul Metropolitan Government (hereinafter referred to as "Seoul");
3. The term "foreign investment area" means an area designated by the Mayor of the Seoul Metropolitan Government (hereinafter referred to as the "Mayor") pursuant to Article 18 (1) of the Act; <Amended by Ordinance No. 4591, Dec. 26, 2007>
4. The term "facility for the improvement of foreign investment environment" means a facility that falls under Article 2 (7) of the Enforcement Decree of the Foreign Investment Promotion Act (hereinafter referred to as the "Decree"). <Amended by Ordinance No. 4591, Dec. 26, 2007>

Article 3 (Advisory Council for Foreign Investment) (1) The Mayor shall establish an advisory council for foreign investment (hereinafter referred to as the "Advisory Council") to give him/her advice on the establishment of foreign investment policies and the improvement of investment systems.
(2) The Advisory Council shall be composed of thirty or less members, including a Chairperson and a Vice Chairperson.
(3) Members of the Advisory Council shall be commissioned by the Mayor from among those persons who have much experience and knowledge on the foreign investment, and their term of office shall be three years.
(4) The Chairperson and the Vice Chairperson shall be appointed by the Mayor from among members, and their term of office shall be two years.
(5) Meetings of the Advisory Council shall, in principle, be held quarterly, but may be held at any time if deemed necessary by the Mayor.
(6) Allowances and actual travel expenses incurred may be reimbursed to the members of the Advisory Council who attend a meeting thereof, to such an extent as the relevant budget permits, and if they participate in any other event related to the inducement of investment or in public relations at the request of the Mayor, the expenses incurred in relation thereto may be reimbursed to them.
(7) Except as provided in this Ordinance, necessary matters for the operation of the Advisory Council shall be separately determined by the Mayor.

Article 4 Deleted. <by Ordinance No. 4586, Dec. 26, 2007>

Article 5 (Support for Foreign Investment in Infrastructure) When the Mayor induces foreign investments for the construction of infrastructure in Seoul pursuant to the Act on Public-Private Partnerships in Infrastructure, he/she may render administrative and financial assistance to guarantee foreign investors' return on investments.
[This Article Wholly Amended by Ordinance No. 4591, Dec. 26, 2007]

Article 6 (Entrustment of Foreign Investment Inducement Duties) (1) When the Mayor induces foreign investments in an area that requires expertise, such as large investment projects and infrastructure, he/she may entrust part of administrative works necessary for carrying out the inducement to an appropriate expert or an appropriate organization or legal entity (hereinafter referred to as "specialized investment inducement institution"). <Amended by Ordinance No. 4591, Dec. 26, 2007>
(2) If the Mayor entrusts part of the duties related to inducement to a specialized investment inducement institution under paragraph (1), he/she may pay it all or some of the expenses incurred in performing the entrusted duties.

Article 7 (Support for Foreign Investment Inducement Activities of Small and Medium Businesses) If any small and medium business that is located in Seoul conducts foreign investment inducement activities, the Mayor may pay some of the expenses incurred in relation thereto to such small and medium business to such an extent as the relevant budget permits.

Article 8 (Reward Money) The Mayor may pay reward money to any person, organization, corporation, or public official of the Seoul Metropolitan Government or a Gu thereof that is deemed to have greatly contributed to foreign investment inducement according to his/her actual results of such inducement, to such an extent as the relevant budget permits under Article 14-3 of the Act.

Article 9 (Support for Development of Foreign Investment Areas) (1) With respect to a developer of a project for building infrastructure, such as roads, electric power, water supply facilities, sewerage and communications, in order to develop foreign investment areas which are designated under Article 18 (1) of the Act, the Mayor may pay some of the expenses incurred in such development to such an extent as the relevant budget permits.
(2) <Deleted by Ordinance No. 4591, Dec. 26, 2007>

Article 10 (Support for Establishment of Foundation of Foreign Investment Circumstances) In order to create a foreigner-friendly investment environment, the Mayor may grant a subsidy, within budgetary limits, to a person who carries out any of the following projects for some of the project costs or operating expenses : <Amended by Ordinance No. 4591, Dec. 26, 2007>
1. The development of residential communities for foreigners only (referring to areas in which foreigners reside collectively) and global villages under Article 6 (2) of the Seoul Metropolitan Government Ordinance on the Facilitation of Global Cities; <Amended by Ordinance No. 4586, Dec. 26, 2007>
2. The building of infrastructure necessary for the improvement of living environment of foreigners, such as roads, electric power, water supply facilities, sewerage and communications;
3. The establishment and operation of facilities for the improvement of foreign investment environment. <Newly Inserted by Ordinance No. 4591, Dec. 26, 2007>

Article 11 (Special Cases concerning Handling of Civil Petitions)
The Mayor shall deal with civil petitions subject to en bloc treatment, such as authorization or permission under Article 17 (3) of the Act, in preference to other civil petitions.

Article 12 (Remission of Proceeds from Sale of and Rent on Public Property)
(1) If any property belonging to the Seoul Metropolitan Government is sold to a foreign-invested enterprise, the Mayor may sell it at a price of its development cost or exempt that enterprise from all or some of the value of the said property in accordance with the Seoul Metropolitan Government Ordinance on the Management of Public Property. <Amended by Ordinance No. 4591, Dec. 26, 2007>

(2) When the Mayor leases out an asset owned by Seoul to a foreign-invested enterprise or a person who carries out a project under Article 9 or 10 (hereinafter referred to as "foreign-invested enterprise, etc."), he/she may exempt the foreign-invested enterprise, etc. from rent therefor fully or partially, as prescribed by the Seoul Metropolitan Government Ordinance on the Management of Public Property and Commodity. <Amended by Ordinance No. 4591, Dec. 26, 2007>

Article 13 (Financial Support out of Small and Medium Business Support Fund) Pursuant to Article 3 (2) of the Act, the Mayor may provide financial support out of the Small And Medium Business Support Fund to foreign-invested enterprises, as prescribed by the Seoul Metropolitan Government Ordinance on the Establishment and Operation of Small And Medium Business Support Fund. <Amended by Ordinance No. 4591, Dec. 26, 2007>

Article 14 (Cash Grant) The Mayor may pay to a foreign-invested enterprise any certain part of the amount of money invested by the foreign-invested enterprise in cash to such an extent as the relevant budget permits, taking into account whether or not the foreign-invested enterprise provides high technology, the effect of technology transfer, the scale of employment creation, and whether or not the place in which that enterprise is located is appropriate.

Article 15 (Employment Subsidies) If a foreign-invested enterprise newly employs nationals of the Republic of Korea, the Mayor may subsidize the foreign-invested enterprise to such an extent as the relevant budget permits, taking into account the scale of such employment, the effect on the development of regional economy and so on under Article 14 (4) of the Act and Article 20 (4) of the Decree.

Article 16 (Education or Training Subsidies) If a foreign-invested enterprise provides education or training to nationals of the Republic of Korea to newly employ them, the Mayor may subsidize the foreign-invested enterprise to such an extent as the relevant budget permits, taking into account the scale of such employment, the effect on the development of regional economy and so on.

Article 17 (Limit to Amount of Subsidy) The total amount of subsidy to be granted by the Mayor to a foreign-invested enterprise, etc. in accordance with this Ordinance shall not exceed 50/100 of the amount of investment by the foreign-invested enterprise, etc.

Article 18 (Ex Post Facto Management) (1) A foreign-invested enterprise, etc. provided with funds in accordance with this Ordinance shall use the provided funds only for the business that is specified in a business plan submitted at the time when such provision of funds are applied for.
(2) If it is necessary to confirm the management and use of funds provided under this Ordinance, the Mayor may require a foreign-invested enterprise, etc. to submit related materials or have public officials under his/her control visit and investigate the foreign-invested enterprise, etc.

Article 19 (Other Support) With respect to foreign-invested enterprises recognized to have a great impact on the regional economy, the Mayor may relax restrictions on activities or construction of buildings, or relax a building-to-land ratio or floor area ratio in a specific-use area or a specific-use district, taking into account the scale of investment, employment effects, etc. In such cases, provisions applicable to the relaxations shall be prescribed by the Seoul Metropolitan Government Ordinance on Urban Planning. <Amended by Ordinance No. 4591, Dec. 26, 2007>

Article 20 (Enforcement Rule) Necessary matters concerning the enforcement of this Ordinance shall be provided for by the Enforcement Rule.

ADDENDA
(1) (Enforcement Date) This Ordinance shall enter into force on the date of its promulgation.
(2) Omitted.
ADDENDA <Ordinance No. 4586, Dec. 26, 2007>
(1) (Enforcement Date) This Ordinance shall enter into force on the date of its promulgation.
(2) Omitted.
ADDENDA <Ordinance No. 4591, Dec. 26, 2007>
(1) (Enforcement Date) This Ordinance shall enter into force on the date of its promulgation.
(2) Omitted.