Benefits such as tax cuts and increased support ratios for local investment promotion subsidies for tenant companies -
Buyeo County, Ministry of Industry Opportunity Development Zone Final Selection
-
The Buyeo General Industrial Complex and part of the Eunsan 2 Industrial Complex in Buyeo County (County Governor Park Jeong-hyun) have been finally selected as the Opportunity Development Zone related to secondary batteries.
The county plans to intensively attract industries related to secondary batteries to a total area of 525,189 square meters (about 15.8 hectares) including the Buyeo General Industrial Complex under construction in Hongsan-myeon and part of the Eunsan 2 Industrial Complex in Eunsan-myeon.
Currently, HK power Co., Ltd., a manufacturer of secondary battery post-process equipment, has signed investment agreements with a total of five companies, expecting to induce an investment effect of 190 billion KRW and create employment for 460 people.
Tenant companies in the Opportunity Development Zone will receive benefits such as income and corporate tax reductions, acquisition and property tax cuts, and additional support ratios for family business succession deductions and local investment promotion subsidies.
Park Jeong-hyun, the Governor of Buyeo County, said, "With the designation of this Opportunity Development Zone, Buyeo County will be able to create future growth engines through fostering new industries such as secondary batteries," adding, "We will spare no active administrative and financial support for investing companies."
Meanwhile, Buyeo County began by submitting an application for selection as a candidate site for the Chungcheongnam-do Opportunity Development Zone last March, and was selected as a candidate site in May. It achieved the final selection through on-site consulting by the Ministry of Trade, Industry and Energy in September and deliberation and resolution by the Local Era Committee in October.
