Jeongeup-si Advanced Industrial Complex Re-designated as a 'Special Support Area for Local Small and Medium Enterprises'

[Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] The Jeongeup City Advanced Industrial Complex in Jeonbuk has been re-designated as a 'Special Support Area for Local Small and Medium Enterprises (SMEs),' which is expected to boost the attraction of companies within the industrial complex.

According to the city on the 28th, the designation of 'Special Support Area for Local SMEs' is made by the Ministry of SMEs and Startups every five years to improve the business environment of local companies and revitalize investment attraction.

The city was designated as a special support area in 2015 and has been designated again this year.

SMEs that have moved into or are scheduled to move into the industrial complex designated as a special support area can receive a 50% reduction in corporate tax and a 60% reduction in acquisition tax and property tax for five years from the first taxable year.

Additionally, products directly produced can be subject to restricted competitive bidding and private contracts for five years.

Besides these, various benefits such as preferential financing and credit guarantees are available.

Mayor Yoo Jin-seop said, "With the re-designation as a special support area, we can enhance the competitiveness of resident companies in the Advanced Industrial Complex and promote company attraction. We will continue to devise multifaceted measures to revitalize the industrial complex and actively support SMEs."

Meanwhile, the Jeongeup Advanced Science Industrial Complex is located in the southwestern region's central area, and it is accessible in about 1 hour and 20 minutes from the metropolitan area by using high-speed trains such as KTX and SRT.

It is conveniently connected by highways to nearby cities such as Gwangju and Jeonju, and three major national research institutes are located right nearby.

Resident companies within the complex can receive R&D (Research and Development) support from the research and development special zone.

Furthermore, the city is focusing on revitalizing the local industrial economy by providing various investment incentives to resident companies, such as a 20% occupancy subsidy based on the sale price, facility investment, and secondary interest support.

This content was produced with the assistance of AI translation services.