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J eonnam’s Investment Attractiveness To global CEOs for new futures
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Page 1: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Jeonnam’sInvestment AttractivenessTo global CEOs for new futures

Page 2: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

CONTENTS

Ⅰ. JEOLLANAMDO’S 7 INVESTMENT ATTRACTIVENESS_ 02

Ⅱ. JEOLLANAMDO’S PROMISING BUSINESSES_ 06

Ⅲ. JEOLLANAMDO’S INDUSTRIAL COMPLEXES_ 14

Ⅳ. JEOLLANAMDO’S TOURISM DEVELOPMENTS_ 20

Ⅴ. START-UP AND R&D SUPPORT FACILITIES_ 26

Ⅵ. INVESTMENT INCENTIVES_ 28

Page 3: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial
Page 4: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

01 Largest supplier of industrial raw materials in Korea

02 Best affordable industrial lands in Korea•Jeollanamdo signi�cantly reduces the burden of initial investment by creating customized industrial complexes

and offering inexpensive industrial lands.

* 2017 land cost (official value) : 9,000 won/m² (1/5th of Korea’s average land cost of 50,000 won/m²)

| Industrial Complexes |

Category No. Area (km2) Name

Total 36 226,022 -

Construction Completed 19 41,918

Samil Resource Storage, Daebul, Ocheon, Suncheon, Munyeong, Naju, Hwasun, Samho, Singeum, Daema, Sindo, Ceramic, Donghampyeong, Naju Innovation, Jangseong Nanotechnology, Daeyang, Ilsin, Bio Food, Environmental

Under construction 13 167,514Yeosu, Gwangyang, Bitgeurin, Sapjin, Yulchon 1, Haeryong, Hwanggeum, Sepung, Hwawon Shipbuilding, Gunnae, Myodo, Damyang, Unnam

Under preparation 4 16,590 Yulchon 2, Yulchon 3, Doyang, Yongdang

•POSCO's steel mill in Gwangyang : 21 million tons per year

•Korea’s largest petrochemical industrial complex

-

• Best quality eco-friendly agricultural, �shery, and livestock products

(Certi�ed organic area: 5,380 ha, No.1 in Korea / Marine plant production: 1.08 million tons 90% of national total)

Ⅰ. Jeollanamdo’s 7 Investment Attractiveness

Investment Guide on Jeollanamdo02

Page 5: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

03Ⅰ. Jeollanamdo’s 7 Investment Attractiveness

03 Best labor-management relations in Korea•Joint Peace Declaration of Labor-Management-Government-Civilian for 12 straight years

(�rst in Korea, 2006 to 2017)

•Best and Excellent Local Government Awards Winner for Labor-Management Cooperation for 10 straight years

(2008 to 2017)

04 Skilled and customized workforce•175 universities and 48 occupational high schools train 51,000 technicians and engineers in 200 specialized areas

- 40,000 from colleges; 11,000 from occupational high schools

•Industry-Academic cooperation employment packages to nurture tailored manpower

•Operation of Jeonnam Employment Center to provide customized consultation

Page 6: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

•Electricity production : 78,461GWh (14.9% of national total)

* Source : Electric Power Statics Information System (as of 2015)

•Industrial water : Suf�cient supply from Juam Dam, Jangheung Dam, etc. (56 million tons/year)

05 Abundant supply of industrial electricity and water

06 Hub for Korea-China-Japan Trade

| Expressway |

| KTX |

| A i r |

•Seoul to Gwangju in 1 hour and 30 minutes

•Seoul to Mokpo within 2 hours

•Seohaean Expressway (3 hours from Seoul)

•Namhae Expressway (3 hours from Busan)

•Muan International Airport :

•Yeosu Airport :

•Gwangju Airport :

* Heuksan Airport (construction starts in 2017 with expected completion in 2020, runway: 1,200m)

| International Port |•Gwangyang Container Port

- 12 berths (freight handling capacity: 3,800,000 TEU per year)

•Mokpo New Port

- 3 berths (freight handling capacity: 240,000 TEU per year)

07 Natural environment with many islands and abundant marine resources

•The archipelago with 2,200 islands – a repository of island resources

•6,743-km-long rias coast (45% of national total)

•One of the world’s �ve largest mud �ats (42% of national total)

Investment Guide on Jeollanamdo04

Page 7: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

05Ⅰ. Jeollanamdo’s 7 Investment Attractiveness

There are reasonswhy global companies select Jeonnam

Page 8: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Investment Guide on Jeollanamdo06

Based on the Yeosu National Industrial Complex for basic materials and the Gwangyang Bay area withpetrochemical production facilities, new growth engine has been promoting by enhancing the petrochemicalindustrial complex and fostering the materials industry.

01 Petrochemical Industry

•Oil Re�ning :GS-Caltex 840,000 barrels/day (28% of Korea’s total re�ning capacity of 2.95 million barrels/day)

•Petrochemistry : 4,070,000 tons/year (ethylene) (47% of Korea’s total petrochemical production of 8.64 million tons)

* Source: Korea Petrochemical Industry Association (KPIA) (as of March 2017)

✽Chemical Complexes in Korea

GSCaltex840(28%)

SKIncheonPetrochem280(9%)

S-Oil580(20%)

Hyundai Oilbank390(13%)

SK880(30%)

HonamPetrochemical0.72(10%)

YeochunNCC1.81(25%)

LG Chem0.90(12%)

Samsung Total0.85(12%)

Daesan(36%)

Yeosu(47%)

Ulsan(17%)

LG Chem0.76(10%)

Lotte Chemical1.00(14%)

Korea Petrochemical0.47(6%)

SK Energy0.76(11%)

Petrochemicals

Advanced Petrochemical Complex Promotion of Materials Industries R&D Capacity Enhancement

•Development of Yeosu Innovative Industrial Complex

•Construction of undersea tunnel between

Gwangyang and Yeosu

•Construction of Ecological Industrial comPlex (EIP)

- Optimal use of industrial by-products

•Construction of functional chemical

materials cluster

•Promotion of petro-chemical industry

of high molecular materials

•Promotion of new driving forces

•Enhanced networks for

industry-academic cooperation

•Support of customized packages

for small and medium businesses

•Location : Yeosu National Industrial Complex, Gwangyang Bay Free Economic Zone

•Promising Business : chemical materials with special functions for electronics, automobiles, secondary batteries,

medicine and medical supplies

•Development Plans

Ⅱ. Jeollanamdo’s Promising BusinessesProposals for new initiatives, Jeollanamdo’s promising businesses

Page 9: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

With POSCO Gwangyang Steel Works, the precision metal machining industry has been fostered as a higher value-added business.

•Location : Suncheon (Yulchon 1 Industrial Complex, Haeryong Industrial Complex),

Boseong, Mokpo, Goheung

•Promising Businesses : magnesium alloys, carbon �bers, ceramics,

automobile parts, bicycle parts, high molecular convergence materials

•Advantages

- Adjacent to Shanghai, the largest market in China

- Easy access to KIA Motors’ factory in Gwangju to supply manufactured automotive parts

•Development Plans

Steelworks Platform Cluster Advanced Precision Machining Technology Customized Business Support

•Materials for improving metal resources

• Materials for energy and transport machines

•Eco-friendly high functional materials

•Materials for improving safety

•Industry convergence materials

•Technical partnerships with domestic

and foreign institutions

•Advances in metal processing technology

•Industrial cooperation for higher

added value

•Competitiveness enhancement

through technology packaging

•Technology developments for

businesses of all sizes

•Technical workforce development

02 Metal Processing Industry

Based on the shipbuilding SMEs located along the region’s coastlines, Jeollanamdo has created a sustainable industrial

•Location : Daebul Industrial Complex, Goheung Shipbuilding Town

•Promising Businesses : offshore plants, leisure boatbuilding, shipbuilding materials

•Development Plans

- Business support for small and medium shipyards, offshore plants,

marine leisure equipment

- Operation of Regional Innovation Center for mid-sized shipyards

- Operation of Test Research Center for submarine cables

- Development of a specialized industrial zone for key industries

- Innovation project to improve the infrastructure of Daebul Industrial Complex

- Workforce tailored to the shipbuilding and marine industries

03 Shipbuilding and Marine Industries

07II. Jeollanamdo’s Promising Businesses

Page 10: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Investment Guide on Jeollanamdo08

《KEPCO Support for the Establishment of Energy Valley》

•Financial Support and Consulting for the Settlement of New Resident Companies

-

-

SME Promotion Fund : KRW200 billionInvestor support center, smart factory establishment, consulting support, etc.

•Establishment of a Business Ecosystem by Nurturing Startup Companies and Research Companies

-

-

Nurture startup companies by establishing benevolent cycle of business setupInvigorate research companies by using Specialized R&D District

•Enhancing Local R&D Cooperation

-

-

-

-

-

-

-

-

-

Expand joint industry-university-research center projects (KRW10 billion annually)Nurture technology convergence and new energy industries

•Vitalizing Labor Supply and Expanding Project Sales Channels-

-

Expand expert human resource pool by training local talentsOverseas and domestic marketing support

Location : Bitgaram-dong, Naju, Jeollanam-do (area: 7,361,000m²)

Concept Art of Bitgaram Energy Valley

04 Bitgaram Energy Valley (Gwangju-Jeollanamdo Joint Innovation City)

Located in Bitgaram Innovation City that hosts Korea’s sixteen largest public energy companies including KEPCO (Korea Electric Power Corporation), KEPCO KDN, and KEPCO KPS, Bitgaram Energy Valley provides the largest business opportunities in energy and ICT convergence industry, complete with R&D and other support systems for resident companies.

Electricity IT Cluster Creating New Energy Industries Through Convergence of Electric Power and ICT

Planned Population : 50,000 residents / 20,000 households (self-suf�cient independent new town)

Relocating Institutions : 16 public institutions including KEPCO (Korea Electric Power Corporation)

Target InvestorsPartners of relocating public institutions, research centers, and private knowledge industry centersIndustry-university-government cluster site (energy, ICT, venture company, software)Attract private sector knowledge industry centers appropriate for features of small-to-medium ICT and contents companies

StrengthsPotential for growth into a world-class energy hub through a new energy business belt encompassing Korean southwest and east, with Bitgaram Innovation City at the centerDiscover new energy businesses via industry-university-research center network including KEPCOBitgaram Energy Valley Center, support to resident companies in terms of relocation, startup venture, and R&DFinalized plans to establish Energy Valley R&D Center, Energy Valley Corporate Development Center, and a branch of Korea Electrical Manufacturers Association (KOEMA)

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II. Jeollanamdo’s Promising Businesses 09

Jeollanamdo is building the e-mobility ecosystem for electric vehicle and car-tuning industries.

05 Eco-friendly Car and Car-tuning Industries

•Location : Yeonggwang Daema Industrial Complex, Yeongam Sampo District

•Promising Businesses : eco-friendly electric cars, parts for car tuning

•Advantages

- Eco-friendly car and car-tuning industrial cluster

- One-stop service for development and testing of �rst-grade car parts for Korea

International Circuit (KIC)

- R&D center for high performance car technology

* Affordable land cost, fee reductions for using F1 circuit, test and evaluation equipment,

employment subsidies, tax reduction (100% exemption of corporate and income taxes

for 3 years and 50% for next 2 years), R&D center for technical development service

Jeollanamdo’s Promising Businesses 09

Page 12: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

10 Investment Guide on Jeollanamdo

《Development project plan of the National Aviation Testing Center》

《Muan International Airport with the best investment conditions》

•International airport located nearest to China and Japan

- Major international airports located within a 90-minute �ight (Shanghai, Hong Kong, Tokyo, etc.)

•Korea’s best civil airport available 24 hours a day year round

- Number of foggy days: 13 days (Incheon International Airport: 60 days),

- Number of snowy days: 3.2 days (the lowest in Korea)

•Airport Facilities

Facility Size Capacity Remarks

Area 2,567,690m2

Runways 2,800m x 45m 140,000 �ights/year3,200m runway construction

under review

Mooring Space 90,962m2 9 aircrafts B747*4/A300*3/B737*2

Passenger Terminal 29,106m2 5.19 million PAX/yearDomestic : 4.16 millionOverseas : 1.03 million

Cargo Terminal 3,112m2 50,000 tons per yearDomestic : 41,000 tonsOverseas : 9,000 tons

Parking Space 66,900m2 2,095 vehicles

Jeollanamdo is building a national aviation test center for rocket R&D in connection with Naro Space Center in Goheung and fostering a small aircraft maintenance industry by establishing an aviation training cluster around Muan International Airport.

06 Space and Aviation Industries

•Location : Around the Korea Aerospace Research Institute in Goheung

and Muan International Airport

•Promising Businesses : Aerospace materials and equipment, aircraft maintenance,

�ight training center, airline operation, airport ground work

•Advantages

- Technical support in partnership with Naro Space Center

- Test facilities for rocket development

- Muan International Airport available 24 hours a day

- Easy access to China and Japan

Page 13: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

With high insolation, abundant wind, and rapid currents, Jeollanamdo is leading a new renewable energy industry for photovoltaic, wind, tidal and bio-energy power.

08 New Renewable Energy Industry

Jeollanamdo is fostering a bio industry, including food, biologics, bio-tech, and oriental medicine, as a future growth engine, using its abundant natural resources.

07 Food and Bio Industries

•Location : Naju, Hwasun, Jangseong, Gokseong, Jangheung

•Promising Businesses : eco-friendly agriculture · marine product processing,

functional food products, bio-medicine(vaccine), nano-biotechnology

•Advantages

- Clean and abundant resources from Korea’s largest certi�ed area for eco-

friendly agricultural products

- Major R&D centers located, including the Bio Food Technology Center

- Hwasun Vaccine Industry Special Zone, Chonnam National University

Hwasun Hospital

•Location : southwestern coast of Jeollanamdo

•Promising Businesses : wind · photovoltaic · tidal power plants,

hydrogen fuel batteries, bio fuel

•Advantages

- Largest amount of insolation in Korea for photovoltaic power

- Boundless potential for offshore wind power

- Rapid sea currents of the archipelago for tidal power generation

II. Jeollanamdo’s Promising Businesses 11

Page 14: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Jeollanamdo has fostered the region’s traditional industry of ceramics as a higher value-added high-tech business.

09 High-tech Ceramic Industry

•Location : Daeyang Industrial Complex, Mokpo Ceramic Industrial

Complex, Gwangyang bay zone

•Promising Businesse : functional ceramics, raw materials, parts

•Advantages

- R&D support in partnership with Mokpo National University and

Ceramic Support Center

- B2B business network with shipbuilding industry

New Mokpo Port, Muan International Airport and Jangseong Distribution Terminal.

10 Logistics

•Location : Gwangyang Port, New Mokpo Port, Jangseong Distribution Terminal, Muan International Airport

•Promising Businesse : half-way station for ship lines and airlines, logistics transit service, logistics processing,

distribution service

•Advantages

- Gwangyang Port and New Mokpo Port linking major international transport routes

- Fee reductions for rent in port hinterlands and loading & unloading service

- Honam Distribution Terminal (Jangseong) for domestic inland transportation

Investment Guide on Jeollanamdo12

Page 15: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

•Promotion Plans : energy prosumer project for electric power transaction of geographically dispersed power plants

- Establishment of a power exchange to trade residual electric power from dispersed power plants

- Construction of smart campuses (Dongshin University)

* Energy prosumer : electric power transaction market between producers and consumers

* Energy dispersed resources : energy-independent islands, zero-energy buildings, smart energy campuses, etc.

•Special Regulations

- Allowing KEPCO to produce new renewable energy

· Revision of Article 7 of Electricity Business Act (Business permission) for

permitting more than two business types to the same entity

- Deregulation of the use of the natural resources within coastal and marine national parks

· Stable power supply and energy independence by establishing 50 energy-independent islands

- Fee reduction for renewable energy generation on agricultural lands (10% → 3% of the total pro�t)

•Promotion Plans

- Infrastructure for integrated certi�cation and control

· main control building, hangar, R&D support, certi�cation

system

- Infrastructure for performance testing

· testing building, test and evaluation equipment, R&D support

- Infrastructure for human resources cultivation

· training centers for pilots, maintenance technicians

- Application of drone technology in agriculture and �sheries

· science complex for developing and testing drone

technology in agriculture and �sheries

- Infrastructure for business support

· production plants, employee dormitories, production

support centers, industrial complex infrastructure,

knowledge industry center

- Others

· drone experience center, drone park, international drone event

New Energy Industry (electric power SI, chemical materials): the outpost for smart grid exports

- In partnership with KEPCO and Bitgaram Energy Valley

Drone Industry : creating the ecosystem of drone industry

- Promising Business : lightweight materials for drone frame

•Special Regulations- Land arrangement for national �ight performance test site

(Goheung Bay : 1.68 million m² worth 12 billion won)

· a regulation-free special law for free use of the site for

50 years (under review)

- Proposal of transfers of national drone technologies to

local �rms

· reduction and exemption of licensing fee to drone

companies with government-owned technologies in

the regulation-free zone

- Proposal of tax reductions in the regulation-free zone

· reduction and exemption of corporate · income · customs ·

acquisition · license registration · property taxes

II. Jeollanamdo’s Promising Businesses 13

Jeollanamdo is intensively fostering the regional strategic industries* in regulation-free zones.* new energy industry (electric power SI, chemical materials), drone industry

11 Regional Strategic Industries for Creative Economy

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Investment Guide on Jeollanamdo14

Special economic zone

Ⅲ. Jeollanamdo’s Industrial Complexes

|Gwangyang Bay Free Economic Zone |

Located at the center of Northeast Asia shipping logistics, Gwangyang Bay Free Economic Zone has the optimal business conditions, including the proximity of the steel and chemistry industrial complexes in Gwangyang and special measures such as deregulation and tax incentives.

•Location : Yeosu, Suncheon, Gwangyang in Jeollanamdo · Hadong in Gyeongsangnamdo

•Project Size : 21 complexes in 5 districts 77.11 km2 (Jeonnam : 64.94, Gyeongnam : 12.17)

•Period : 2004 to 2020

•Project Expense : 17,865,800,000,000 won

•Major Areas : Gwangyang Port Free Economic Zone, Yulchon Free Economic Zone,

Yulchon Industrial Complex, Haeryong Industrial Complex

POSCO Gwangyang Steel Works Gwangyang Port Container Berth Yeosu National Industrial Complex

Page 17: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

15Ⅲ. Jeollanamdo’s Industrial Complexes

•Location : Gwangyang Port (8.88 million m2), Daebul Industrial

Complex (1.15 million m2), Yulchon 1 Industrial Complex (340,000 m2)

>> Promising Businesses

•manufacturing, wholesale trade for export

•loading and unloading service, shipping, storage, etc.

| Free Trade Zone |

to foreign investors, providing multiple functions for manufacturing, logistics and trading.

Daebul Industrial Complex

Gwangyang Port

Yulchon 2 Industrial Complex Yulchon 3 Industrial Complex Yulchon 1 Industrial Complex

Page 18: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Investment Guide on Jeollanamdo16

Major Industrial Complexes

|Mokpo Daeyang Industrial Complex |

|Mokpo Ceramics Industrial Complex |

|Naju Innovation Industrial Complex |

Mokpo Daeyang Industrial Complex is in a suburban area to intensively foster new growth engines.

Mokpo Ceramics Industrial Complex is a hub for high-tech ceramics which is a new growth engine in Korea's southwestern region.

Naju Innovation Industrial Complex is the industrial outpost of Bitgaram Innovation City.

•Location : Deayang-dong, Mokpo

•Project Size : 856,000 m2(2009 to 2016)

•Business Types : marine products, shipbuilding materials and

parts, marine leisure vessels, ceramics, photovoltaic power,

hydrogen electronic components, automobile manufacturing

•Land Price : 259,000 won/m² (industrial facility and agricultural lands)

•Location : Yeonsan-dong, Mokpo

•Project Size : 81,000 m2 (2009 to 2013)

•Business Types : nonmetallic mineral product manufacturing

(grass �bers and ceramic products)

•Land Price : 268,316 won/m2

•Location : Wanggok-myeon, Naju

•Project Size : 1,098,000m² (2008 – 2016)

•Business Types : electronic components, computers,

chemicals, metal, machinery and parts, food processing

•Land Price : 190,000 won/m2

Page 19: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

|Damyang Industrial Complex |

|Hwasun Biologics Industrial Complex |

Located at the center of Korea’s southwestern region, Damyang Industrial Complex has a well-developed transport infrastructure, minimizing shipping expenses.

Jeollanamdo Biologics Research Center, Korea Green Cross Corporation Baeksan Factory and many other biologics companies have moved to the complex and the GLP Vaccine Research Center is being built now. Hwasun Biologics Industrial Complex is shaping the future of Korean biologics industry in partnership with the medical cluster centering Hwasun Chonnam National University Hospital.

•Location : Damyang-eup, Damyang

•Project Size :337,000 m² (2012 – 2016)

•Business Types : high value-added food products,

new bamboo industry, eco-friendly parts and components

•Land Price : 173,274 won/m² (predicted)

•Location : Hwasun-eup, Hwasun

•Project Size : 388,000 m2 (2006 to 2011)

•Facilities : Bioindustry Research Center, Healthcare

Research Center of Korea Testing & Research Institute.

•Business Types : pharmaceuticals, medical devices,

medical treatment supplies, R&D

•Land Price : 117,540 won/m2

17Ⅲ. Jeollanamdo’s Industrial Complexes

|Yeonggwang Daema Electric Vehicle Industrial Complex |

Yeonggwang Daema Electric Vehicle Industrial Complex is shaping an eco-friendly electric car cluster for eco-friendly cars, reducing carbon emissions.

•Location : Daema-myeon, Yeonggwang

•Project Size : 1,094,400 m² (2008 – 2013)

•Business Types : electric vehicles, components and

parts, car trailer s, food and beverage

•Land Price : 119,526 won/m2

Page 20: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

18 Investment Guide on Jeollanamdo

|Gangjin Industrial Complex |

Gangjin Industrial Complex is the center of the high-tech environment industry cluster.

•Location : Myeongsan-ri · Songhak-ri, Gangjin

•Project Size : 411,000 m² (2010 – 2016)

•Facility : Environmental Industry Promotion Agency

•Business Types : environmental business,

renewable energy, etc.

•Land Price : 93,761 won/m2

| Jangheung Biofood Industrial Complex |

The bio-industrial complex is established for fostering a higher value-added industry in the central Jeollanamdo.

•Location : Haedang-ri, Jangheung

•Project Size : 1,206,000 m2 (2008 to 2014)

•Facilities : Natural Resources Research Center,

Oriental Medicine Industrial Research Center

•Business Types : food and beverage production,

metal processing, wooden product manufacturing

•Land Price : 99,363 won/m2

Page 21: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

City · County Name Area For SaleArea for Sale

Total (A) Sold (B) Unsold (A-B) Sale rate (B/A)Total 5 complexes

YeosuYeosu

Samil BichukGwangyang GwangyangYeongam Daebul

Hampyeong Bitgreen

City · County Name Area For SaleArea for Sale

Total (A) Sold (B) Unsold (A-B) Sale rate (B/A)Total 31 complexes

MokpoSapjin

DaeyangCeramic

Yeosu

OcheonYulchon1Yulchon2Yulchon3

Myodo Green

SuncheonSuncheonHaeryong

Naju

MunpyeongNaju

InnovationShindo

Gwangyang

HwanggeumShingeum

IkshinSepung

Damyang DamyangGoheung DoyangHwasun Biologics

Jangheung BiofoodGangjin GangjinHaenam Hwawon Shipbuilding

YeongamSamho

YongdangMuan Unnam

Hampyeong Dong HampyeongYeonggwang Daema EVJangseong Nano

Jindo Gunnae

Current Status of National Industrial Complexes

Status of general industrial complexes

(unit : 1,000㎡, %)

(unit : 1,000㎡, %)

As of August 2017

As of August 2017

19Ⅲ. Jeollanamdo’s Industrial Complexes

174,323 52,466 50,995 49,999 989 98.0

50,650 23,498 23,481 22,788 693 97.0

4,157 3,442 3,442 3,442 - 100.0

96,405 17,404 17,404 17,404 - 100.0

20,887 6,668 6,668 6,365 296 95.7

2,224 1,454 - - - -

51,699 31,404 18,347 12,858 5,485 70.1

218 170 170 170 - 100.0

1,545 854 854 280 574 33.3

116 81 81 19 62 23.0

222 130 130 130 - 100.0

9,108 6,024 6,024 4,785 1,240 79.4

3,793 2,336 - - - -

9,762 5,438 - - - -

368 241 - - - -

583 448 448 448 - 100.0

1,592 1,173 669 263 406 39.3

323 246 246 246 - 100.0

549 402 402 396 6 98.6

1,789 1,204 1,204 540 663 44.9

298 227 227 206 19 90.7

1,115 722 - - - -

398 228 228 124 103 54.3

474 348 348 232 116 66.7

2,426 1,492 - - - -

583 350 334 71 263 21.3

2,684 1,169 - - - -

755 388 388 218 169 56.2

2,892 1206 1,206 328 878 27.2

657 411 411 53 358 12.9

2,054 989 - - - -

2,971 2,153 2,153 2,153 - 100.0

351 281 281 281 - 100.0

85 48 48 48 - 100.0

739 489 489 443 46 90.6

1,652 1,144 1,144 562 582 49.1

901 480 480 480 - 100.0

686 532 382 382 - 100.0

Page 22: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Ⅳ. Jeollanamdo’s Tourism Developments

Jeollanamdo is constructing a premium enterprise city SolaSeaDo with multiple functions including leisure sports, residence, education and medical service.

01 SolaSeaDo (Enterprise City)

•Project Period : 2006 to 2025

•Location : Sani-myeon, Haenam and Samho-eup, Yeongam (33.9km2)

•Project Expense : 8,226,500,000,000 won

•Development Zone : SSamho, Sampo, Guseong (33,885m²)

•Major Facilities

-F1 circuit, hotels, resort, theme park, marina, golf club, etc.

Promising Investment Areas

•hotels, convention hall, foreigner-exclusive casino, senior town, theme park, etc.

Public Interest-type Investment Immigration System: grants permanent residency to foreigners who have invested

more than 500 million won and maintained the investment for �ve years

Investment Guide on Jeollanamdo20

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Jeollanamdo has fostered Yeosu Gyeongdo Island as a marine tourism mecca to revitalize the regional economy bydeveloping a marine tourism complex with special facilities.

02 Marine Tourism Complex on Gyeongdo Island, Yeosu

•Project Period : 2009 to 2029 / Over 1 trillion won

- Stage 1 : 27-hole golf course, condominium with 100 rooms, auto-camping grounds (completed development)

- Stage 2 : Hotel, condominium, commercial facilities, theme part (private sector funding)

- Private Fcilities : hotel, company training institute, commercial buildings

•Location : Gyeondo Island, Yeosu City (2,168,000 m2)

•Developer : Jeonnam Development Corporation + Mirae Asset Consortium

Promising Investment Areas

•hotels, golf villas, commercial facilities

Public Interest-type Investment Immigration System: grants permanent residency to foreigners who have invested

more than 500 million won and maintained the investment for �ve years (May 1, 2013 to April 30, 2023)

Planning to enter the Gwangyang Bay Free Economic Zone

21 IV. Jeollanamdo’s Tourism Developments

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Investment Guide on Jeollanamdo22

In connection with Dadohae Marine National Park and Hallyeo Marine National Park, an international leisure complex is being constructed that will function as a comprehensive resort place for tourists and leisure sports lovers.

03 Hwayang District (Gwangyang Bay Area Free Economic Zone)

•Project Period : 2003 to 2020

•Location : Hwayang-myeon, Yeosu (9,167,000 m²)

•Development Plans : marine tourism hub, marine tourism resort complex, integrated recreation tourism complex

•Business Types : tourism, leisure, hotels, marina resort, golf course, etc.

•Features

- Center of the southern coast tourism belt

- Proximity to Hanryeo Marine National Park and Dadohae Marine National Park

- Waterfront space for leisure activities

Promising Investment Areas

•tourism, leisure, hotel, marina resort

Public Interest-type Investment Immigration System: grants permanent residency to foreigners who have invested

more than 500 million won and maintained the investment for �ve yearss (July 11, 2016 to July 10, 2021)

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23

Premium international marine resort complex with hotels, yacht marina and golf courses

04 Haenam Oceano Tourism Complex

•Project Period : 1994 to 2018

•Location : Hwawon-myeon, Haenam

•Project Area : 5,073,000 m 2 (Land : 4,294,000 Sea : 779,000)

•Main Developer : Korea Tourism Organization (KTO)

•Project Expense : 1180.9 billion won (KTO: 224.5 million billion won, Jeollanamdo : 105.8 billion won, Private

investment : 830.6 billion won)

•Major Facilities : marina, Sea World, golf course, golf school, outlet mall, seafood center, Namdo Food Village,

traditional tea garden, seawater spa town, etc.

*Road, electricity, water and sewage infrastructure completed

Promising Investment Areas

•marina, golf course, shopping center, seawater spa

IV. Jeollanamdo’s Tourism Developments

Page 26: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

<Investment Destinations>

District Size(1,000m2)

Available size

(1,000m2)Business Type

Project Expense

(100 million won)Remarks

Shinan

Imja 1,017 401Artpia Retreat

(recuperation, art experience, nature leisure sports)2,959 Island

Nodae 2,324 759Treasure Islands in the Diamond Archipelago(treasure island, mermaids island, adventure island)

5,798 Island

Jaeun 6,268 5,800Solux City

(entertainment, wellbeing recuperation, business)33,275 Island

Anjwa 7,842 7,030Fantasia Land

(theme tour, emotion tour, residence)33,471 Island

Goheung Gwayeok 577 260Blue Island Club

(recreation, leisure sports)2,485 Island

Yeonggwang Yeomsan 346 254Aquapolis

(wellness, recovery, nature, health)1,333 Coast

Muan Unnam 453 330Asia Eoulnuri

(learning, harmony, delight)3,473 Coast

Wando Shinji 191 120Ocean Marina Resort

(recreation, leisure sports)1,327 Coast

Boseong Hoecheon 489 300Inner Beauty Resort

(beauty food, therapy, body, life)1,850 Coast

*Types of business can be changed.

The coastal and island resources in the archipelago are being developed for marine tourism. Jeollanamdo’s islands, which accounting for 53 percent of Korea’s total islands, are now turning into attractive investment destinations.

05 Marine Tourism Projects

•Islands : Imja, Nodae, Jaeun, Anjwa in Shinan, Gwayeok in Goheung

•Coasts : Hoecheon in Boseong, Wunnam in Muan, Shinji in Wando, Yeomsan in Yeonggwang

Investment Guide on Jeollanamdo24

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25 IV. Jeollanamdo’s Tourism Developments

An ecological city Seaggum is now being constructed in beautiful environment, upgrading the quality of Koreans’ life.

06 Saeggum (New Dream) City

•Project Period : 2009 to 2019

•Development Size : 49 sites (inland: 33, seaside: 8, golf club area : 8), 102million m 2

•Major Facilities : accommodations, leisure facilities, medical treatment facilities, community center

Promising Investment Areas

•urban development projects, leisure and medical treatment facilities

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Ⅴ. Startup and R&D Support Facilities

Investment Guide on Jeollanamdo26

•20 public and 425 company research centers

•Jeonnam Creative Economy Innovation Center (Yeosu)

Fostering agriculture and fisheries-based ventures

Fostering wellbeing tourist sites in its clean natural environment

Creating an ecosystem for eco-friendly biochemical industry

•Posco Gwangyang Center for Creative Economy and Innovation (CCEI)

Fostering ventures and hidden champions in materials, energy and environment sectors

Creating energy-efficient eco-industrial complexes

Establishing a cluster for high-tech materials

Page 29: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Jeonnam Bioindustry Foundation - 7 institutes

Food Research Center (Naju), Jeonnam Biopharmaceutical Research Center (Hwasun)

Nano Bio Research Center (Jangseong), Jeonnam Institute of Natural Resources Research

(Jangheung), Bio Control Research Center (Gokseong), Jeonnam Institute of Oriental Medicine

Industry (Jangheung), Marine Biotechnology Research Center (Wando)

Jeonnam Root Technology Support Center (Suncheon)

pilot plant construction and equipment support for enhancing global competitiveness in

steel and shipbuilding industries

Jeonnam Technopark Advanced Materials Industrialization Center (Suncheon), Advanced Ceramics Center (Mokpo)

High Molecular Convergence Material Center (Goehung), LASER Advanced System

Industrialization Center (Jangseong), Jeonnam Science & Technology Promotion Center (Yeongam)

Others Green Energy Research Center (Mokpo), Environment Industry Promotion Agency (Gangin),

Information Culture Industry Promotion Agency (Muan), Korea Testing & Research Institute

Healthcare Research Center (Hwasun), Korean Institute of Industrial Technology (KITECH), Jeonnam

Defense Venture Center (Defense Agency for Technology and Quality-af�liated institute)

•Major Research Institutes

27Ⅴ. Startup and R&D support facilities

Page 30: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Category Target Subsidy Limit Details

Companies moving from greater Seoul area to Jeollanamdo

Land Subsidy

Facility Subsidy

Employment/Training Subsidy

3 or more years in greater Seoul area, 30 or more permanent employees

Maximum 6 billion won per company (transfer, new facilities, facility expansion)

•Land investment subsidy : Within 30%

New facilities and expansion of facilities in Jeollanamdo

Economic cooperation zone industry, key industry, local focus attraction industry with 3 or more years in Korea, 10 or more permanent employees, 1 billion on or more in new investment, 10% or more in new job generation

-

•Facility investment subsidy : Within 14%

Companies returning to Korea

Same business type as the overseas business, 30 or more permanent employees over 2 years

- •Land investment subsidy : 30%•Facility investment subsidy : 14%

•Facility investment subsidy: Within 14%

* Priority support areas: 10% more subsidy

* Priority support areas: 10% more subsidy

* Priority support areas: 10% more subsidy

Shipbuilding equipment companies diversifying business portfolio

Shipbuilding equipment sales of 30% or higher in the past 2 years, 5 or more permanent employees, expanding new or different business area by 30% or more

- •Major company facility investment subsidy : 11%Small business : 14%

•Companies making investment agreement with Jeollanamdo to newly construct, expand, or transfer facilities

•Target : General industrial complexes with less than 50% of the land sold*, agricultural engineering complex** and aviation including Muan Airport, automobile tuning companies near the F1 race track

•Target : Construction, equipment, lands

•Target : Companies with 2 billion won or more investment; for their new employees hired over 10 employees

•Subsidy Size : Maximum 5% of funds exceeding 2 billion won, for 12 months at most (maximum total subsidy 1 billion won)

•Subsidy Size : Maximum 5% of funds exceeding 2 billion won (maximum 500 million won) (depending on the employment size)

•Subsidy Size : Maximum 30% of the land price (maximum 400 million won)

* Priority support areas: 19% more subsidy for major companies, 24% for small businesses

* Mokpo (Daeyang, Ceramic), Naju (Innovation), Damyang (Damyang), Jangheung (Bio), Gangjin (Gangjin), Yeonggwang (Daema)

**Boseong (Joseong), Hwasun (Dongmyeon 2), Jangheung (Jangheung), Haenam (Haenam), Jindo (Gunnae), Yeongam (Food)

“Additional” lands in Mokpo Ceramic, Damyang General, Agricultural Engineering, and others

* Maximum 5 billion won per company within the province budget limit (no overlapping subsidies)

Jeollanamdo Investment Subsidy

Category Target Details

Tax Reduction and Exemption

- IT companies receive 500,000 won per 1 employee over 5 permanent employees, for 6 months (maximum total subsidy 500 million won)

Ⅵ. Investment IncentivesVarious Tax Benefits and Incentives

General Areas(6): Mokpo, Yeosu, Suncheon, Gwangyang, Yeongam, Muan / Priority Support Areas: 16 cities and counties including Naju

Investment Guide on Jeollanamdo28

Page 31: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Category Target Subsidy Limit Details

Subsidies Companies with 30% or more in foreign investment

50% of invested amount

•Land, employment, training subsidy, etc.

Cash SubsidyNew Growth Engine ProjectPart/material industryLarge-Scale Generation of Jobs

Determined by committee review

•Cash subsidy depending on investment size, technical levels

Infrastructure Subsidy Individual foreign investment companies

Determined considering employment effects and location

•Road and waterworks•Electricity, gas, waste water treatment

Tax Benefits

•Companies in foreign investment zones•Companies in free economic zones•Companies in free trade zones•Companies in business cities

•National tax reduction- Corporate tax, income tax•Local tax reduction- Acquisition tax, estate tax

Rent Subsidy

Execution Guarantee Securities Fees Subsidy

•Target : 50 million won for companies in Innovation City development areas and Knowledge Industry Centers in general industrial complexes; IT company with 5 permanent employees or more, with a rental contract of 3 million won per year or more, having paid 1 or more month of rent or 10% of all rental fees

•Subsidy Size : 50% of the yearly rent (in months), for 2 years

•Target : Companies benefiting from G2 subsidy (companies from greater Seoul area)•Subsidy Size : 50% of securities fees (company : province: city/county = 50:25:25)

Category Target Details

•National tax reduction for 5-7 years•Local tax reduction for 15 years

Target Period Details

Naju General Industrial Complex

March 13, 2015 – (for 5 years)

•Private contracts allowed : When purchasing products produced by resident companies

•Limited competitive bidding allowed - When buying resident-produced products, may limit the eligibility

of competition participants•Tax benefits (except for Mokpo Daeyang Industrial Complex)

•Funding : Limited loan support from SMBA small business nurturing funds

•Priority for public procurement : Additional points for reliability during review of corporate contract execution capability (0.5 points)

- 50% off corporate and income taxes for 4 years from the initial tax year

Naju Innovation Industrial Complex

Gangjin Gangjin Industrial Complex

Jangheung Bio Food Industrial Complex

Mokpo Daeyang Industrial Complex

September 9, 2016 – (for 5 years)

Foreign Investment Subsidy

Local Small and Medium Business Support Areas

Execution Guarantee Insurance Securities Fee for Companies Investing in the Province

•Target : Companies with investments in the province•Subsidy Size : 50% of the securities fee

Special subsidy for Korean companies with large investments: For companies with 50 billion won or more in investment and 100 or more employees (extra subsidy over general subsidy amounts)

29Ⅵ. Investment Incentives

Page 32: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

•Small and medium manufacturer or knowledge-service company in the province•Within 1.5 billion won per company (1.3 billion for facilities, 0.2 billion for operation)•Repayment in 5 years with 3-year grace period for facility funds, repayment

in 2 years with 1-year grace period for operating funds•Annual interest rate: 2.40% (variable rate)

•Small and medium venture company, promising technical small and medium company•Within 1 billion won per company (0.8 billion for facilities, 0.2 billion for operation)•Repayment in 5 years with 3-year grace period for facility funds, repayment

in 2 years with 1-year grace period for operating funds•Annual interest rate: 2.5 (fixed rate)

•Small and medium distribution companies with retail and wholesale business in the province•Within 500 million won per company (400 million for facilities, 100 million for operation)•Repayment in 5 years with 3-year grace period for facility funds, repayment

in 2 years with 1-year grace period for operating funds•Annual interest rate: 2.40 (variable rate)

•Small business within 2 years of opening, companies within 5 years of opening that received Small Business Market Promotion Corporation consulting

•Within 100 million won per company•Bullet repayment with 2-year grace period or repayment in 2 years with 2-year grace period• Interest rate for bank funds are agreed upon with the banks, compensation for the gap is 1.9%-3.0%

•Small businesses in outlets or damaged by Yeosu Fish Market fire•Within 200 million won per company•Bullet repayment with 2-year grace period or repayment in 2 years with 2-year grace period• Interest rate for bank funds are agreed upon with the banks,

compensation for the gap is 1.6%-2.5% annually

•Small and medium business signed with Small and Medium Business Mutual-Aid Funds and has locations in the province

•Within 600 million won per company•Bullet repayment with 1-year grace period compensation

for the interest gap is 1.0%-2.0% annually

•Shipbuilding companies (shipbuilding, shipbuilding materials) suffering from the recession•Within 300 million won per company•Bullet repayment with 2-year grace period or repayment in 2 years with 2-year grace period• Interest rate for bank funds are agreed upon with the banks, compensation

for the gap is 1.6%-2.5% annually

•Within 200 million won per company•Bullet repayment with 2-year grace period or repayment in 2 years with 2-year grace period• Interest rate for bank funds are agreed upon with the banks, compensation

for the gap is 1.6%-2.5% annually

•Small and medium manufacturer or knowledge-service company in the province

•Within 300 million won for operating funds per company (within 50% of sales)

•Bullet repayment with 2-year grace period or repayment in 2 years with 2-year grace period

• Interest rate for bank funds are agreed upon with the banks, compensation for the gap is 1.6%-2.5% annually

Financial Support through Small and Medium Business Nurturing Funds

Fund Type Loan Plan (100 million won) Details

Total 3,800

Facility Funds

( provincial funds )

Opera- ting Funds

( loans from banks )

630

50

20

2,000

300

500

100

100

100

Investment Guide on Jeollanamdo30

Startup and competitiveness growth funds

Venture company

growth funds

Management stabilization

funds

Small business

startup funds

Mutual-aid project funds support (KBIZ)

Shipbuilding company support

AI-related support

Small business special

management stabilization funds

Small and medium distribution business restructuring funds

Priority is given to family-friendly certi�ed companies, outstanding employment companies, women’s companies, handicapped companies, SME award companies, promising companies, etc.- Credit extension : Startup and competitiveness enhancement funds (maximum 2 billion won), management stabilization funds, shipbuilding companies, AI-related support (maximum 500 million won) - Interest support : 3%

Page 33: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Mokpo-si Growth Engine Office +82-61-270-8210 Jangheung-gunBusiness Support Department

+82-61-860-0786

Yeosu-siInvestment Attraction and Exhibition Department

+82-61-659-3390 Ganjin-gunFuture Industry Department

+82-61-430-3091

Suncheon-siEconomic Promotion Department

+82-61-749-5742 Haenam-gunLocal DevelopmentDepartment

+82-61-530-5657

Naju-si Job Policy Office +82-61-339-8301 Yeongam-gunInvestment andEconomy Department

+82-61-470-2362

Gwangyang-siInvestment Promotion Department

+82-61-797-2362 Muan-gunDepartment of License and Economy

+82-61-450-5716

Damyang-gunInvestment Promotion Department

+82-61-380-3136 Hampyeong-gunDepartment of Strategic Management

+82-61-320-3293

Gokseong-gunDepartment ofEconomy

+82-61-360-8213Yeonggwang-gun

Investment and Economy Departement

+82-61-350-5437

Gurye-gunDepartment of Urban Economy

+82-61-780-2395 Jangseong-gunDepartment ofEmployment and Investment Policy

+82-61-390-7074

Goheung-gunInvestment Policy Department

+82-61-830-5364 Wando-gunDepartment of Business Industry

+82-61-550-5560

Boseong-gunBusiness Industry Department

+82-61-850-5500 Jindo-gunDepartment of Investment Marketing

+82-61-540-3831

Hwasun-gunIndustrial EconomyDepartment

+82-61-379-3043 Shinan-gunLocal Economy Department

+82-61-240-8331

DepartmentOrganization Tel(Area code : 061) Department Tel

(Area code : 061)

City · County

DepartmentOrganization Name Tel (Area code : 061)

Jeollanamdo

Investment Attraction Officer

Investment and Planning Team +82-61-286-5170

Enterprise Promotion Team +82-61-286-5130

Foreign Investment Promotion Team +82-61-286-5120

New Industry Attraction Team +82-61-286-5150

Investment Attraction T/F Team +82-61-286-5160

Gwangyang Bay Free Economic Zone Authority

Investment Planning Team, Investment Attraction Headquarters

+82-61-760-5560

Jeollanamdo Provincial Government

| Organization Information for Investment Support |

31Ⅵ. Investment Incentives

Page 34: Investment Attractiveness01 Largest supplierof industrialraw materials in Korea 02 Best affordable industrial lands in Korea •Jeollanamdo signi˜cantly reduces the burden of initial

Jeollanamdo Provincial GovernmentInvestment Attraction Division1 Oryong-gil, Samhyang-eup, Muan-gun, Jeollanam-do, Republic of KoreaTel. +86-61-286-5120~5123, Fax. +86-61-286-4746

Jeollanamdo New York Of�ce460 Park Avenue, Suite 430, New York, NY10022, U.S.ATel. +1 212 223 3636, Fax. +1 212 223 2256

Jeollanamdo Europe Of�ce Mergenthaleralle 77, 65760 Eschborn, GermanyTel. +49 6196 973 9989, Fax. +49 6196 973 9991

Jeollanamdo Provincial Governmenthttp://invest.jeonnam.go.kr


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