Increase in National Funding Limits for National Strategy and Advanced Strategic Technology U-Turn Companies... '200 Billion KRW for Capital Region, 400 Billion KRW for Non-Capital Regions'

Implementation of the Revised 'U-turn Subsidy Notice' and Other Amendments on the 30th

From now on, the national funding support limit for returning companies in national strategic and advanced technology fields such as semiconductors, secondary batteries, and bio will be raised to 20 billion KRW in the metropolitan area and 40 billion KRW in non-metropolitan areas.

The Ministry of Trade, Industry and Energy announced on the 29th that it will implement the revised "Notice on Support for Domestic Return of Overseas Expansion Companies" and "Standards for National Financial Support for Local Governments to Attract Returning Companies" containing these details starting from the 30th.

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This revision is a follow-up measure to the "Return Support Strategy 2.0" announced in May this year and includes key contents to revitalize returns in advanced industries. First, the national funding support limit for returning companies in national strategic and advanced technology fields will be raised (metropolitan area from 15 billion KRW to 20 billion KRW, non-metropolitan area from 30 billion KRW to 40 billion KRW). In addition, cooperative return companies that produce economic security items and return linked with domestic demand companies have been added to the exemption targets for overseas business restructuring. The restriction on new overseas investments for advanced industry returning companies that received subsidies after exemption from overseas business restructuring requirements has been abolished. To support advanced industry locations, national advanced strategic industry and materials, parts, and equipment (SoBuJang) specialized complexes have been included in the preferential subsidy support areas (support rate increased by 4 percentage points, national subsidy rate applied at 75%).

Along with this, to promote "joint return" where two or more companies return together, joint return will be recognized not only when domestic business sites are the same but also when overseas business sites are the same, and the subsidy support rate for those companies will be increased by 5 percentage points.

An official from the Ministry of Trade, Industry and Energy said, "A total of 13 companies have returned this year," and added, "With the implementation of this revised notice, it is expected that the return of companies engaged in advanced industries such as semiconductors, displays, and secondary batteries will be further revitalized."

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