Article 1 (Purpose) The purpose of this Ordinance is to facilitate the inducement of foreign investment and thereby contribute to the economic vitalization of Seoul Metropolitan City, by providing for the matters delegated by the Foreign Investment Promotion Act and the Enforcement Decree thereof, as well as matters concerning foreign investment and support for inducement activities related thereto. <Amended on Dec. 26, 2007, Jul. 24, 2023>

Article 2 (Definition) The definitions of the terms used in this Ordinance shall be as follows: <Amended on Jan. 7, 2016, Jan. 5, 2017, Jul. 24, 2023>
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");
2. The term "foreign-invested enterprise" refers to any enterprise in which foreign investors invest, as defined in Articles 2 (1) 5 and 6 of the Act, and which engages in business within the jurisdiction of the Seoul Metropolitan Government (hereinafter referred to as "Seoul Government");
3. The term "foreign investment area" refers to 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;
4. The term "facility for improving the foreign investment environment" refers to a facility that falls under Article 2 (9) of the Enforcement Decree of the Foreign Investment Promotion Act (hereinafter referred to as the "Decree").
[This Article Wholly Amended on Jul. 26, 2007]

Article 3 Deleted. &#lt;Jul. 24, 2023&#gt;

Article 4 Deleted. &#lt;Dec. 26, 2007&#gt;

Article 5 (Support for Foreign Investment in Infrastructure) When inducing foreign investment for the construction of infrastructure in Seoul Metropolitan City pursuant to the Act on Public-Private Partnerships in Infrastructure, the Mayor may render administrative and financial assistance to guarantee foreign investors' return on their investments.
[Title amended on Dec. 26, 2007] <Amended on Dec. 26, 2007, Jan. 5, 2017>

Article 6 (Entrustment of Matters Pertaining to Foreign Investment Inducement) (1) When inducing foreign investment in an area that requires expertise, such as large investment projects and infrastructure, the Mayor may entrust a part of the administrative affairs necessary for carrying out such inducement to an appropriate expert, organization, corporation, etc. (hereinafter referred to as "specialized investment inducement institution"). <Amended on Dec. 26, 2007, Jul. 24, 2023, Jan. 3, 2025>
(2) The Mayor may establish an organization to promote foreign investment within an institution that specializes in inducing investment, in order that such organization may be entrusted with part of the administrative affairs necessary for attracting foreign investment, such as the provision of support for global marketing and the filing of investment reports by foreign investors, in an effort to strengthen the foundations for attracting foreign investment. <Amended on No. 7622, Jul. 16, 2020>
(3) Where the Mayor entrusts an institution that specializes in inducing investment with a part of the administrative affairs related to the inducement of investment under paragraphs (1) and (2), the Mayor may grant such institution a subsidy to cover all or some of the expenses incurred in performing the entrusted affairs. <Newly Inserted on, Jul. 16, 2020, Jul. 24, 2023>

Article 6-2 (Investment Inducement Taskforce) (1) To facilitate the attraction of investment the Mayor may operate an investment inducement taskforce to identify potential foreign investors.
(2) Matters necessary for the operation of an investment inducement taskforce shall be separately determined by the Mayor.
[This Article Newly Inserted by Ordinance No. 7622, Jul. 16, 2020]

Article 7 (Support for Foreign Investment Inducement Activities of Small and Medium Enterprises) The Mayor may support small and medium enterprises that are located in the City and engage in foreign investment inducement activities by subsidizing a part of the expenses necessary for such activities within the budgetary limits.<Amended on Jul. 24, 2023>

Article 8 (Monetary Rewards ) Pursuant to Article 14-3 of the Act, the Mayor may pay a monetary reward to any person, organization, corporation, or public official of the Seoul Metropolitan Government or an autonomous Gu thereof that is deemed to have greatly contributed to the inducement of foreign investment based on the actual outcomes of such inducement within the budgetary limits. <Amended on Jan. 5, 2017>

Article 9 (Support for Development of Foreign Investment Areas) In order to develop foreign investment areas as designated under Article 18 (1) of the Act, the Mayor may pay part of the expenses incurred in such development to the developer of a project to construct infrastructure, such as roads, electric power facilities, water supply facilities, and sewerage and communications facilities, within the budgetary limits. <Amended by Ordinance No. 6386, Jan. 5, 2017>
Deleted <Dec. 26, 2007>

Article 9-2 (Support for Tenant Companies in Foreign Investment Zones) The Mayor may grant a subsidy to tenant companies in foreign investment zones as designated under Article 18 (1) 3 and 4 of the Act to cover their rents, in an effort to revitalize foreign investment zones.
[This Article Newly Inserted by Ordinance No. 7622, Jul. 16, 2020]

Article 10 (Support for Creation of Conditions Conducive to Foreign Investment) To form an investment environment that is favorable to foreign investment, the Mayor may subsidize all or a part of the project funds or operational funds of an entity that executes any of the following projects, within the budgetary limits: <Amended on Dec. 26, 2007, Jan. 5, 2012, Jul. 24, 2023>
1. A foreigner-only village (referring to a certain area in which foreigners reside collectively);
2. Construction of infrastructure necessary to improve the living environment of foreign residents, such as roads, electric power facilities, water supply facilities, sewerage and communications facilities, etc.;
3. Establishment and operation of facilities for improving the foreign investment environment.

Article 11 (Special Cases concerning the Handling of Civil Petitions) The Mayor shall give priority to dealing with civil petitions subject to en bloc handling, such as authorization or permits under Article 17 (3) of the Act. <Amended on No. 6386, Jan. 5, 2017>

Article 12 (Reduction of, or Exemption from, Proceeds from Sale of or Rent on Public Properties) (1) When selling the City’s assets to a foreign-invested enterprise, the Mayor may sell them at the development cost, or discount all or a part of the value of such assets under the Seoul Metropolitan Ordinance on the Management of Public Property and Supplies. <Amended on Dec. 26, 2007, Jul. 24, 2023>
(2) When leasing City assets to a foreign-invested enterprise or an entity that execute projects under Article 9 or 10 (hereinafter referred to as a “foreign-invested enterprise, etc.”), the Mayor may discount all or a part of the lease under the Seoul Metropolitan Ordinance on the Management of Public Property and Supplies. <Amended on Dec. 26, 2007, Jan. 5, 2017, Jul. 24, 2023>

Article 13 (Financial Support from the Small and Medium Business Support Fund) The Mayor may subsidize a foreign-invested enterprise with funds provided under Article 3 (2) of the Act and the Seoul Metropolitan Government Ordinance on the Establishment and Management of the Fund for Fostering Small and Medium Enterprises. <Amended on Dec. 26, 2007, Jul. 17, 2014, Jan. 5, 2017, Jul. 24, 2023>

Article 14 (Cash Grant) The Mayor may, within the budgetary limits, subsidize certain amounts in cash out of the investments made by a foreign-invested enterprise, after taking into consideration whether the enterprise is involved with advanced technology, the potential effects of technology transfer, the scale of job creation, and the appropriateness of the location, etc. <Amended on Dec. 31, 2019, Jul. 24, 2023>

Article 15 (Employment Subsidies) When a foreign-invested enterprise newly employs Korean nationals, the Mayor may pay employment subsidies within the budgetary limits under Article 14 (4) of the Act and Article 20 (4) of the Decree, taking into consideration the scale of employment and the potential effects on local economic development, etc.<Amended on Jan. 5, 2017, Jul. 24, 2023>

Article 16 (Education or Training Subsidies) Where a foreign-invested enterprise conducts education or training for the new employment of Korean nationals, the Mayor may pay education or training subsidies within the budgetary limits, taking into consideration the scale of employment and the potential effects on local economic development, etc. <Amended on Jul. 24, 2023>

Article 17 (Ceiling on Subsidies) The total funds subsidized by the Mayor to a foreign-invested enterprise, etc. under this Ordinance shall not exceed 50/100 of the amount invested by the foreign-invested enterprise, etc. <Amended on Jul. 31, 2019, Jul. 24, 2023>

Article 18 (Post-Management) (1) A foreign-invested enterprise, etc. which receives subsidized funds under this Ordinance shall use such funds solely to finance projects specified in the project plan submitted at the time of application for a subsidy. <Amended on Jul. 24, 2023>
(2) If verification is necessary in connection with the execution and management of funds subsidized under this Ordinance, the Mayor may request the foreign-invested enterprise, etc. concerned to submit the related materials, or dispatch an affiliated public official to visit the foreign-invested enterprise, etc. in order to investigate their execution and management of subsidies received. <Amended on Dec. 31, 2019, Jul. 24, 2023>

Article 19 (Other Types of Support) For foreign-invested enterprises deemed by the Mayor to have a large impact on the local economy, the Mayor may relax the restrictions on activities or constructions or relax the building-to-land ratio or floor area ratio within the special-purpose areas and zones, taking into consideration the scale of investment, employment effect, etc. The provisions applied to such relaxed measures shall be determined by the Seoul Metropolitan Government Urban Planning Ordinance. <Amended on Dec. 26, 2007, Jul. 24, 2023>
[Title amended on Dec. 26, 2007]

Article 20 (Enforcement Rule) Matters necessary for the enforcement of this Ordinance shall be prescribed by the rules of the Seoul Metropolitan Government.

ADDENDA (En Bloc Amendment Ordinance for the Overhaul, Etc. of Inaccessible Terminology in Seoul Metropolitan Government Ordinances) <No. 9487, Jan. 3, 2025>
This Ordinance shall enter into force on the date of its promulgation.