Industry
Government raises cap on local investment promotion subsidy to 30 billion won
South Korea has raised the subsidy cap for companies investing in less-developed balanced development areas and industrial crisis response zones to 30 billion won per case and per company, the Industry Ministry said. The local investment promotion subsidy supports 4 to 50 percent of investment costs with local governments. The revision adds a 2 percentage point boost to equipment-subsidy rates for certain AI-related investment and expands eligible worker-environment facilities. It also relaxes investment-period and resubmission limits.
