Opening of the Seoul-India Economic Exchange Center in Delhi

Opening of the Seoul-India Economic Exchange Center in Delhi

On November 8, 2017, Seoul Mayor Park Won-soon participated in the opening ceremony of the Seoul-India Economic Exchange Center in Delhi, India. This was the first time that the Mayor of Seoul made an official visit to Southwest Asia. Mayor Park said that “the City of Seoul will act as the bridge that supports the market entry and investment attraction in India of promising Korean startups and small- and medium-sized businesses in cooperation with the Center.”

The Seoul-India Economic Exchange Center is a platform that helps Korean and Indian startup companies enter each other’s’ countries. Since the signing of the Comprehensive Economic Partnership Agreement in 2010 many Korean conglomerates have moved into India and established local corporations in various parts of the country while small- and medium-sized businesses and startups were not given as much opportunity to do so.

Seoul Mayor Park Won-soon, in his congratulatory speech at the opening ceremony said, “Now startups and small- and medium-sized businesses will also be given an opportunity to do business in India. Following the opening of a platform organization in India to support the market entry of Korean startups in India and that of Indian startups in Korea, the Seoul Metropolitan Government (SMG) will take various follow-up measures in cooperation with the economic exchange center.”

The Seoul Metropolitan Government had earlier designated India as one of its new target investment countries and organized an investment consulting event between the Indian economic mission and enterprises in Seoul, Korea in September 2016 in order to lay the foundation for Korean small- and medium-sized businesses and startup companies entering the Indian market.

Seoul Mayor Park also hosted the Seoul-India Friendship Festival at the Gurgaon Cyber Hub Arena in the city of Gurugram in Haryana State, India between November 8 and 9 to meet with the people of India. It was the first time Seoul’s culture, tourism and city brand were introduced in India, an unexplored exchange area for Korea. Mayor Park made a surprise appearance on stage of the Nanta performance and performed with the crew.

Opening of the Seoul-India Economic Exchange Center in Delhi

Seoul City Hosts First Investment Promotion Conference in India

Seoul City Hosts First Investment Promotion Conference in India

On November 9, 2017, the Seoul Metropolitan Government (SMG) hosted its first investment promotion conference at the Taj Mahal in Delhi, the center of the newly rising economic powerhouse of India. Over 50 small- and medium-sized Indian companies and investment firms were invited to the event. 10 promising Korean start-up companies selected through fierce competition at a ten-in-one ratio accompanied Seoul Mayor Park Won-soon during his tour of Southwest Asia to attract investment from the invited Indian companies.

At the investment promotion conference, the 10 start-up companies promoted their business through individual presentations and one-on-one meetings (B2B consultations) with Indian enterprises. Participating companies were also given time to sign business agreements among themselves at the event, which is expected to bring about tangible investment attractions. Participating companies signed business agreements on investment of capital, technology exchanges and strategic partnerships based on the results of their one-on-one meetings and prior information exchange.

Meanwhile, Seoul Mayor Park also introduced outstanding policies of Seoul in the Smart City category and discussed the possibility of exporting Seoul’s policies to India and specific ways of engaging in cooperation with the Indian government.

Seoul City Hosts Job Fair for Foreign Residents

Seoul City Hosts Job Fair for Foreign Residents

On October 31, 2017, the Seoul Metropolitan Government will host the 2017 Job Fair for Foreign Residents from 10am until 5pm at COEX Hall D1 to provide foreigners with an opportunity to find employment at domestic companies and offer domestic companies a chance to hire a foreign work force and move one step closer to advance into the overseas market.

This year marks the fourth anniversary of the Job Fair for Foreign Residents. 49 companies and 2,082 job seekers participated in the 2015 job fair and 50 of them found employment. As for the 2016 job fair, 63 companies and 2,120 job seekers took part, with 65 people succeeding in landing a job.

60 domestic companies will attend this year’s job fair including those that are aiming at advancing into overseas markets, large- and medium-sized companies that are expanding their foreign customer services inside Korea such as Woori Bank and Webzen as well as promising small- and medium-sized companies.

Job seekers may receive information on each participating company and engage in a one-on-one interview at recruitment booths. HR managers of participating companies can use the interview management system to systematically manage everything from confirmation of the interview schedule to completion of hiring. Other services offered at the job fair include Vocational Aptitude Test (Kookmin University), Interview Clinic (Dongguk University), Resume Clinic (Chung-Ang University), Makeup and Image Consulting and Resume Photo Service.

All foreigners seeking employment can register and request interviews (interviews are conducted on a first-come-first-served basis) through the job fair website ( until October 27, 2017. On-site registration on the day of the fair is also possible. If you wish to register on-site, please bring your resume and letter of self-introduction to participate in job interviews.

Seoul City Hosts Job Fair for Foreign Residents

Seoul’s Response Strategy to the 4th Industrial Revolution

Seoul’s Response Strategy to the 4th Industrial Revolution

On September 29, 2017, the Seoul Metropolitan Government will host the 16th Seoul International Business Advisory Council (SIBAC) at Four Seasons Hotel Seoul under the theme of Seoul’s Response Strategy to the 4th Industrial Revolution.

SIBAC is an advisory council to the Seoul Mayor that was established in 2001 and consists of 27 CEOS of global companies such as McKinsey & Company, Nomura Holdings, Forbes, Siemens and five consultants. 15 annual meetings have been convened so far. 322 advisories have been made to the Seoul Mayor in the areas of economy, society, city, infrastructure, culture and environment and 271 of them, accounting for 84%, have been reflected in the administrative affairs of the city.

The 16th annual meeting for the SIBAC will be carried out in three sessions: ▴ Combining talents, technology and leadership, ▴ Innovation and cooperation: Tasks for local governments, ▴ Fourth Industrial Revolution and cases in world cities. 13 advisory panels and five consultants will attend the meeting.

Seoul’s Response Strategy to the 4th Industrial Revolution

Speakers for the first session, ‘Combining Talents, Technologies and Leadership’, will be Global Managing Partner Dominic Barton of McKinsey & Company, Chairman Peter Zec of the Red Dot Design Award, Chairman Rudolph Schlais of ASL Management Consulting Company (Shanghai), and Chairman Yan Lan of Lazard China.

The second session will seek for ways to enhance Seoul’s competitive power focusing on the theme of ‘Innovation and Cooperation: Tasks for Local Governments.’ The sessions will be attended by Chairman of the Board of Directors Nobuyuki Koga of Nomura Holdings, Vice Chairman Roland Busch of Siemens, BOD Member Sanjeev Gandhi of BASF, CEO Akihiro Nikkaku of Toray Industries, Chairman and CEO Marco Provera of Pirelli.

Finally, the third session will discuss the direction that Seoul City should pursue under the theme of the Fourth Industrial Revolution and cases in world cities. CEO Bernard Charles of Dassault Systèmes, Vice Chairman Christopher Forbes of Forbes, CEO Masakazu Tokura of Sumitomo Corporation, President of Operations André Wyss of Novartis and Chairman Antoine Frérot of Veolia will share outstanding cases of Fourth Industrial Revolution in their cities and also talks about international trends regarding the topic.

Opening of “International Forum on Transforming Cities for Decent Work” in Seoul


The “International Forum on Transforming Cities for Decent Work” is opening in Seoul from September 5th to 6th on Tuesday and Wednesday for two days at the Multipurpose Hall of Seoul City Hall and Lotte Hotel Seoul.

This forum organized and led by the Seoul Metropolitan Government is promoting advanced labor policies and the event will provide an opportunity to cast light upon the meaning of labor with the governments of 10 other cities including New York, London, Tokyo, Sao Paulo, Johannesburg in addition to eight international organizations including the ILO, OECD, and EU as well as related public organizations and labor unions in Korea.

< Seoul invited Director-General Guy Ryder of ILO to visit Korea for the second time in ten years >

This forum will be exceptionally meaningful with Director-General Guy Ryder of the ILO giving a keynote speech to highly praise the effort of the Seoul Metropolitan Government in creating quality jobs and the importance of spreading the good model globally.

ILO is an affiliated organization of the UN that supervises the labor situations and compliance of labor laws of each county by setting international labor standards and supporting member countries to create decent jobs. Korea joined the ILO as its 152nd member in 1991 among 187 member countries of the ILO.

Seven other chief executives of the ILO are also planning to visit Seoul with Director-General Guy Ryder to lead effective discussions on labor policies during this forum.

< Opportunity to develop urban labor models for the creation of quality jobs & share the successful results of the current labor policies >

The purpose of this forum is to build an ‘urban labor model for quality jobs’ based on the opinions of workers and laborers on site. All related bodies including city governments, international organizations, public organizations, labor unions, and labor civic organizations will participate in the forum for meaningful discussions.

On the last day of the forum, “Seoul Declaration” will be announced and the declaration will include the future directions and tasks of each city government, labor union, and civic organization that aim to create cities with quality jobs. Furthermore, Seoul is planning to lead the establishment of a「consultative body for cities with decent work」 with other cities that will participate in the forum and is expecting to build a close partnership with the ILO as well through this forum.

On the last day of the forum, “Seoul Declaration” will be announced and the declaration will include the future directions and tasks of each city government, labor union, and civic organization that aim to create cities with quality jobs. Furthermore, Seoul is planning to lead the establishment of a「consultative body for cities with decent work」 with other cities that will participate in the forum and is expecting to build a close partnership with the ILO as well through this forum. (

Outline of International Forum on Transforming Cities for Decent Work

○ Outline of International Forum on Transforming Cities for Decent Work
○ Date: 5 Sep. 2017 – 6 Sep. 2017 (2 days)
○ Venue: Multipurpose Hall at Seoul City Hall, Sapphire Room at Lotte Hotel
○ Host: Seoul Special City
○ Partner: ILO
○ Sponsors: Ministry of Employment and Labor (MOEL), Friedrich-Ebert-Stiftung, Korea Labor Institute
○ Participants: 200 representatives of ILO, OECD, EU, mayors and policymakers of major cities around the globe, and labor unions

○ Major Programs

Sep. 5th (Tue)· Expert Round Table Discussion:① Strategies of city governments for creation of quality jobs
· Opening Ceremony:Welcoming Speech (Seoul Metropolitan Government), Congratulatory Message (MOEL), Keynote Speech (ILO)
· Presentation & Discussion on Labor Policies:① Employment for cities with decent work/②Social protection and workplace rights
Sep. 6th (Wed)· Presentation & Discussion on Labor Policies:③ Social communication for cities with decent work/④future jobs, future cities
· Expert Round Table Discussion:② Visions and strategies of cities for creation of quality jobs
· Closing Ceremony:Speeches (Federation of Korean Trade Unions, Korean Confederation of Trade Unions, Korea Employers Federation) Seoul Declaration & Closing Speech (SMG)

Mayor Park Introduces Smart City Technology to 110 Cities

Mayor Park Introduces Smart City Technology to 110 Cities

The fourth general assembly for the World e-Governments Organization was held between June 27 and June 30 in Ulyanovsk, Russia attended by 350 people from 110 cities. Seoul’s most up-to-date SMART City technology developed by startups, large enterprises and public organizations was introduced to the world.

Mayor Park demonstrated how to operate the first Digital Civic Mayor’s Office in the world at the assembly, introducing our technological prowess and paving the way to export our outstanding technology to the world.

At the round table, in which mayors and executives from 60 cities participated in, Mayor Park introduced the Bukchon IoT Trial Area (50 locations planned to be installed by 2020), where the IoT technology developed by private enterprises will be applied to urban problems such as parking and waste disposal to address those issues. E Cube Labs, a startup that took part in the project, presented the ‘Smart Trash Can.’

As the Chair of WeGO, Mayor Park Won-soon presided over the general assembly held under the theme of ‘Smart Sustainable Cities for All’ on the 28th and 29th and stressed the implementation of fast-developing digital technology to address urban problems through cooperation between cities.

Mayor Park said, “WeGO has developed into a leading international organization in the field of e-government with 120 member cities and organizations that forms partner relationships with UN and the World Bank since starting out in 2010 with just 50 member cities.” He added, “As a digital pioneer ranked top in the World City e-Government evaluation for the seventh year in a row, the SMG will do its best to lead and support various causes to accomplish UN’s sustainable development goals and the goals faced by world cities and contribute to the improvement of the quality of life through the digital technology developed by startups, private enterprises and public organizations.”

Seoul City Operates the First Digital Civic Mayor’s Office

Seoul City Operates the First Digital Civic Mayor’s Office

The Seoul Metropolitan Government began operation of the Digital Civic Mayor’s Office for the first time in the world.

The greatest thing about the digital civic mayor’s office is the large screen size measuring 3.63m lengthwise and 1.67m heightwise that has been installed in the Mayor’s office on the sixth floor of the Seoul Metropolitan Government Building on June 20, 2017.

By looking at the screen, Seoul Mayor Park Won-soon can view the general conditions of Seoul including statistical information on fires and other disasters, traffic conditions and civil complaints.

Accidents and disasters that occur in the city can be identified in real time by pressing the screen with the hand or making voice commands and staff members on site can be contacted directly to make orders.

The screen also displays statistic closely related to people’s daily lives including the air pollution index, water quality and market indices while also exhibiting people’s opinions that came in through the civic complaint channel.

The Seoul Metropolitan Government collects administrative big data that includes over 10 million cases in 167 systems, CCTV images from 800 cameras in downtown Seoul and data from civic complaint channels for the operation of the digital civic mayor’s office.

S-Plex Center to Become the Hub of Korea’s Game Industry

S-Plex Center to Become the Hub of Korea’s Game Industry

S-Plex Center to Become the Hub of Korea’s Game Industry

On April 16, 2017, the Seoul Metropolitan Government (SMG) announced the ‘Game Industry Cultivation Plan’, which will promote the game industry with the goal of creating more jobs for young people using a budget of KRW 50 billion by 2021. The SMG will devote its full attention to supporting this plan.

At the heart of the plan is the Seoul Game Contents Center that will open inside the S-Plex Center in Sangam-dong during April. The Seoul Game Contents Center will provide a stable game development environment for game development startups.

The Seoul Game Contents Center, located on floors 8, 9, and 10, has a total area of 5785㎡ and consists of 70 separate spaces including those for game startups (9-10F) and those for independent game development (8F).

In April 2016, the OGN E-sports Stadium (12-17F), where various e-sports matches are held year-round, opened inside the S-Plex Center. In July 2016, the Media Contents Center (5-7F), equipped with post production facilities for image and sound editing became part of the Center. In August 2017, the E-sports and Game Exhibition PR Hall is scheduled to open on the 11th floor of the building.

The SMG plans to actively support the overseas entry of small- and medium-sized domestic game companies. To do so, it will subsidize the shared booth fee, participation fee, and other expenses to companies that take part in overseas exhibitions.

The SMG will also vitalize the e-sports industry. To that end, it will promote the ‘Seoul Cup International E-sports Championship,’ which will be held for the second time during the second half of 2017, into a leading international event.

The SMG will also work with the ‘Seoul Internet Addiction Prevention and Counseling Center,’ which has been in operation since 2007, to build a sound game culture.

S-Plex Center to Become the Hub of Korea’s Game Industry
Seoul Game Contents Center inside S-Plex Center
Seoul Game Contents Center inside S-Plex CenterSeoul Game Contents Center inside S-Plex Center
OGN E-sports Stadium (spectators watching an e-sports match)
OGN E-sports Stadium OGN E-sports Stadium

Seoul Innovation Challenge: A Collective Intelligence Project


The “Seoul Innovation Challenge” will be carried out over 200 days with the participation of foreigners, citizens, companies, and universities with the goal of coming up with good ideas to resolve urban problems that occur in Seoul in the areas of safety, environment, and traffic.

Keywords for the Seoul Innovation Challenge include cooperation, innovation, and openness. Once an innovative idea is suggested through the open platform, all participants will go through a collaborative process with 100 professional mentors over the following seven months.

The theme of Seoul Innovation Challenge is ‘Development and Commercialization of Core Technologies for the 4th Industrial Revolution and Resolving of Urban Problems through Open Innovation.” All Seoul citizens, companies, universities, and foreigners are welcome to participate individually or in groups.

Once ideas are accepted, they go through a maturing process through opinion exchanges on- and off-line as well as professional mentoring.

In July, the preliminary rounds will be held for the Seoul Innovation Challenge. 32 outstanding projects will be selected through team presentations and professional evaluation followed by three months of idea/team building. The final rounds will be held in November.

※ Schedule
Collective Intelligence Project
*SIC: Seoul Innovation Challenge

Comprehensive support will be provided to the 32 projects to assist the commercialization of their technologies. This will include registration of intellectual property after R&D and hosting of a demo day to find companies that demand the technology and induce their investment.

Foreigners can join the Seoul Innovation Challenge by applying on-line at the Business Application section on the SBA website ( between April 10 and June 16.

Inquiries: Official twitter account of Seoul Innovation Challenge (@seoulic2017) / Facebook Group (Search ‘Seoul Innovation Challenge’)


Seoul GSC Supports Foreign Startups in Korea


The Seoul Global Startup Center (hereinafter referred to as “Seoul GSC”) was founded in August 2016 as the first foreign startup support center in Korea. As of today, 35 multinational startups entered the Center and are building up market competitiveness.

The Seoul Metropolitan Government (SMG) will recruit 30 foreign startups to move into the Seoul GSC (Yongsan-gu, Seoul, a total area of 2,828㎡), an organization that has been assisting self-sustaining foreign startups, by April 14, 2017 (Friday). Selected startups are allowed to stay in the center for one year and may extend the period by another one year if they pass the evaluation process.

The SMG funds up to 20 million won to an in-house startup company and also stations an in-house mentor who provides consultation on areas of difficulty regarding technology, marketing, incorporation, patents, and others. The Seoul GSC supports foreign startups so that they can grow into enterprises equipped with a competitive edge. Starting this year, the Center will offer various business incubating services in Chinese in order to encourage the participation of Chinese entrepreneurs accounting for 70% of foreigners living in Seoul.

The Seoul GSC operates the Enternship (a combination of Entrepreneur and Intern) Program twice a year so that foreign students can experience business startups during their vacations. In 2017, the Center will also support business startups of entrepreneurial clubs operated by foreign students.

Any foreigner who wants to start a business or promising foreign enterprises that have been founded within the last three years can submit an application to join the center. Successful applicants will be selected through a document screening and interview (presentation) process that focuses on the founder’s competency, adequacy of business plans, technology, and marketability.

The Seoul GSC will receive applications until April 14 (Friday) and all required documents can be downloaded at the Seoul Global Startup Center website ( Contact the Seoul GSC (02-718-1170) for further information. If you would like more details, a presentation will be held at the Co-working Café on the third floor of the Seoul GSC Building at 2pm on Monday April 3rd.

Startup Competition

Startup Competitio

Startup Competitio

Opening of Seoul GSC and regular networking

Opening of Seoul GSC and regular networking

Opening of Seoul GSC and regular networking

Seoul Aims to Attract 4,000 Social Enterprieses

The Seoul Metropolitan Government aims to increase the number of social enterprises from 2000 to 4,000 in 2017, which means more jobs and social contribution for the socially vulnerable groups of women, seniors, and disabled.

The SMG has led the expansion and growth of social enterprises in the past five years through implementation of policies that provide financial support, consultations, and social investment funds with the goal of vitalizing social enterprises. As a result, the number of social enterprises increased fivefold from 718 in 2011 to 3,501 by the end of 2016.

In 2017, the SMG will invest a total of KRW 57.9 billion to support the “5 Plans to Support the Social Enterprises in 2017” and promote the growth of the social economy.

The five support plans include: ① Extended promotion of social enterprises (3,500→4,000) ② Expansion of the public purchase amount for Seoul’s social economy in order to expand the market (KRW 85.6 billion → KRW 100 billion) ③ Additional social investment in the private finance sector (KRW 10 billion) and introduction of citizen-participatory funds, ④ Infrastructural expansion of social economy areas, and ⑤ Reinforcement of the international network for the social economy sector.

First, through customized support in consideration of the characteristics of a company and stage of implementation, the SMG will reinforce the growth potential of social enterprises and promote an additional 500 social enterprises to create 2,000 new jobs. Also, it will designate 40 companies that received high ratings in finance stability and social contribution as model companies and support them for three years using customized programs.

Second, the SMG will expand upon the market for social enterprises. Public Purchase Amount, which is the mandatory purchase of social enterprises’s products or services by the SMG, autonomous districts, and investment and funding organizations, will be increased to KRW 100 billion (KRW 85.6 billion in 2016) in 2017.

Third, in 2017, in order to vitalize investment for social value, the operation method of social investment funds will change (Private consignment → Direct operation) and private funds (KRW 10 billion) will be added to expand the total funds to KRW 80 billion (KRW 70.2 billion in 2016). The first SMG’s social investment funds (KRW 50 billion) was created in 2012 for the first time among all local governments.

The SMG will also introduce Crowdfunding, where the general public can participate in the raising of funds, to connect citizens who are interested in investing in social enterprises with social enterprises that are seeking for new ways to procure capital.

Fourth, the SMG’s pioneering support infrastructure for the social economy will continue to expand. Leading examples include ▴expansion of social economy support centers (15 in 2016→20 in 2017) for each autonomous district, ▴reorganization of social economy activation space (11 in 2016→13 in 2017) which will be used as shared offices and training rooms for local social enterprises, and ▴formation of more social economy special districts (6 in 2016→10 in 2017) where the local community addresses local issues through cooperation.

< Seoul’s Socio-economic Ecosystem >
Seoul Socio economic Ecosystem

Lastly, the SMG will host various international events attended by young entrepreneurs and experts in socio-economic sectors worldwide to strengthen the global network and reinforce initiatives as a leading city of social economy. It will continue to host the “Asia Network for Young Social Entrepreneurs,” which it has been hosting since 2014, and newly launch the Social Economy Youth International Camp in 2017. In June 2017, the SMG will host the ‘ILO Academy on Social and Solidarity Economy’ to promote awareness of ‘Social Economy and Good Jobs.’

Subsidy Support for Foreign-Invested Enterprises in 2017

In accordance with Article 14 of the Foreign Investment Promotion Act (FIPA), Article 20 of the FIPA Enforcement Decree, Article 15 and 16 of the Seoul Metropolitan Government (SMG) Ordinance on Support for Foreign Investment, we hereby offer notification of the plan, outlined below, to provide subsidies for employment, education, and training for foreign invested enterprises in Seoul Metropolitan City in 2017. Eligible companies are kindly requested to submit an application for subsidy in accordance with the following.

February 16, 2017

Mayor of Seoul Metropolitan City

■ Eligibility period: 1.1.2016 ~ 12.31.2016

■ Eligibility and Requirements

  • ○ Eligibility: Foreign investment projects attracted by the SMG or foreign-invested enterprises that invest in new growth industries designated by the SMG
  • ※ Eight new growth industries: IT convergence, digital content, green industry, business services, fashion & design, finance, tourism and conventions, biomedical
  • ○ Requirements to receive support
    • – New recruitment and training should take place within five years of the date of foreign-invested enterprise registration or within five years of the date of an increase in investment.
    • – Companies whose total number of regular employees increased by more than 10 from the previous year (2015) through new recruitment in 2016 (or, companies whose total number of regular employees is more than 10 for those newly founded in 2016) ※ Applies only to Korean nationals employed as of the date of application
    • ◆ Regular employee: A person who provides labor to a company for the purpose of a wage and who meets one of the following (except for non-regular workers, as specified in Article 2, Paragraph 1 of「Act on the Protection, etc. of Fixed-term and Part-time Workers」, who have signed labor contracts of less than 1 year, or short-term laborers as specified in Article 2, Paragraph 1, Clause 8 of「Labor Standards Act」)
    • 1. Average number of persons earning wages from the most recent one year stated on the income tax withholding report, which was submitted to the local tax office in accordance with Article 185, Paragraph 1 of 「Enforcement Decree of the Income Tax Act」
    • 2. Average number of persons from the most recent one year with certified records of employer contribution and employee contribution in accordance with Article 3, Paragraph 1, Clause 11 and 12 of「National Pension Act」 (excluding individually insured persons in accordance with Article 9 of the same act)
    • 3. Average number of persons from the most recent one year with certified records of insurance contributions in accordance with Article 69 of「National Health Insurance Act」 (excluding individually insured persons in accordance with Article 6 of the same act)
    • – As of the application date, a corporation with a foreign investment ratio of over 30 percent
    • ※ Excluding shares (stocks) of foreign companies held by Korean nationals and corporations
    • – Companies that completed education and training at qualified job training institutions, as per the Vocational Education and Training Promotion Act, for new employees hired in 2016

■ Subsidy amount

  • ○ Up to KRW 400 million per company (Maximun KRW 200 million for employment subsidy + Maximun KRW 200 million for education and training subsidy)
    • – For each employee exceeding 10 newly hired employees: up to KRW 1 million per employee for up to six months
  • ○ Total subsidy budget: KRW 480 million
  • ※ Even if the number of applicants exceeds the budget amount, the provided support must remain within the budgetary limit.

■ Application

  • ○ Period: February 16 – April 28, 2017
  • ○ Method: In person or via regular mail or email (valid if postmarked by deadline)
  • ○ Submitting location: Investment Promotion Division, Economic Planning Headquarters, Seoul Metropolitan Government
    • – Telephone: 02-2133-5356 (manager in charge of subsidy)
    • – E-mail :
    • – Address: Investment Promotion Division, 7th floor, 21 Mugyo-ro, Jung-gu, Seoul (Mugyo-dong, The Exchanges Seoul Building)
  • ○ Documents to be submitted
    • – A copy of application for subsidy Appendix Attached Form No. 2
    • – A copy of regular employment status report Appendix Attached Form No. 3
    • – A certified copy of company registry
    • – A printed copy of certificate of foreign-invested enterprise registration
    • – A copy of employment insurance certificate (printout from on the date of application)
    • – A copy of business employment information status (submitted in 2 types: employment status and retired employees) (Printout for each employment condition type (employed/employment terminated) from Business Establishment > Browse Information > Browse Employment Information Status (20103) from on the date of application
    • – A copy of proof of 4 public insurance subscriptions and a list of businesses subscribed to 4 public insurances (printout from on the date of application)
    • – A printed copy of income tax withholding report (Jan. – Dec 2015, Jan. – Dec 2016)
    • – A printed copy of list of employees (Jan. – Dec. 2015, Jan. – Dec. 2016)
    • ※ Date of start of employment, gender, name and citizenship status (Korean/foreigner) need to be specified
    • – A printed copy of foreign investment declaration (within the last five years) and proof of deposit of funds
    • – A copy of financial statements of foreign-invested enterprise
    • – Company introductory letter (including results of investments from foreigners in the past 5 years and future investment plans (up to 2019)
    • – A copy of proof of building usage right (rental agreement, etc.)
    • – A copy of proof of training details and payment for education and training subsidy
    • – Personal details of the applicant
    • ‧ Foreigners: Certificate of domestic residence, phone number (mobile, etc.), alien registration number
    • ‧ Domestic nationals: Resident registration registry (abstract), phone number (mobile, etc.)
    • ※ Additional documents may be requested if necessary.

■ Fulfillment of conditions

  • ○ A separate account to receive and spend the subsidy should be set up, and be used only for personnel expenses (employee salary, bonus, welfare expenses, etc.).
  • ○ For the first three years including the year in which a subsidy is applied for, a company receiving the subsidy shall maintain the number of regular employees and more than 30% of foreign investments as the previous year of subsidy application (2016)
    • ※ In the case one of the following occurs, the entirety or portion of a subsidy that has been decided to be issued may be cancelled and, according to this cancellation, the subsidy is to be rescinded
    • – If the above mentioned conditions for subsidy support are violated
    • – If a subsidy is received through a false registration or other illegal meansv
    • – Relocation of business place to other cities or provinces

■ Others

  • ○ For further inquiries, please contact an officer with the Investment Promotion Division of the SMG. (☏02-2133-5356,


Standard classification of new growth industries
to support foreign-capital invested companies in Seoul

CategoryIndustry Code and Name
1. IT convergence261 Semiconductor manufacturing industry
262 Electronic part manufacturing industry
263 Computer and peripheral device manufacturing industry
264 Communication and broadcasting equipment manufacturing industry
265 Video and sound device manufacturing industry
2918 Office machinery and device manufacturing industry
58221 System software development and supplying industry
58222 Applied software development and supplying industry
62010 Computer programming service industry
62021 Integrated computer system counseling and establishment service
62022 Computer facility management industry
62090 Other information technology and computer operation-related service industry
63111 Data processing business
63120 Portal and other Internet information media service industry
63991 Database and online information provision industry
63999 Other information service industry
2. Digital contents industry33402 Video game machine manufacturing industry
58211 Online and mobile gaming software development and supplying industry
58219 Other gaming software development and supplying industry
59111 General film and video production industry
59112 Animated film and video production industry
59113 Commercial film and video production industry
59114 Television program production industry
59120 Film, video and television program production-related service industry
59130 Film, video and television program distribution industry
59201 Music and other audio publication industry
60221 Program supplying industry
60222 Cable broadcasting industry
60229 Satellite and other broadcasting industry
63910 News service industry
73901 Management industry
90110 Performance facility operation industry
90121 Theater organization
90122 Dance and music organization
90123 Other performance organizations
90191 Performance planning industry
90192 Performance and production-related agency industry
90199 Other creation and art-related service industry
3. Green industry28111 Motor and generator manufacturing industry
28122 Switchboard and electric automatic control panel manufacturing industry
28201 Primary battery manufacturing industry
28202 Storage battery manufacturing industry
28410 Bulb and lamp manufacturing industry
28423 Exhibit and advertisement lighting device manufacturing industry
35119 Other development industry
29174 Gas filter manufacturing industry
29175 Liquid filter manufacturing industry
38110 Non-designated waste collection and transport industry
38120 Designated waste collection and transport industry
38130 Construction waste collection and transport industry
38210 Non-designated waste processing industry
38220 Designated waste processing industry
38230 Construction waste processing industry
38301 Metallic material recycling industry
38302 Non-metallic material recycling industry
3900 Environment purification and restoration industry
41224 Waste processing and pollution prevention facility construction industry
42110 Building and structure dismantling construction industry
46791 Recycled material collection and sales industry
72122 Environment consulting and related engineering service industry
4. Business service industry70 Research and development
711 Law-related service industry
712 Accounting and tax investigation-related service industry
713 Advertising industry
714 Market research and public survey industry
7152 Non-financial holding company
7153 Financial consulting and public relations service industry
72111 Architectural design-related service industry
72112 Urban planning and gardening design service industry
72121 Structural and civil engineering service industry
72129 Other engineering service industry
729 Other scientific technology service industry
73909 Other professional science and technology service industry
857 Educational support service industry
75320 Security system service industry
5. Fashionㆍdesign73201 Interior design industry
73202 Product design industry
73203 Visual design industry
73209 Other professional design industry
6. Finance industry64121 Domestic bank
64122 International bank
64131 Credit union
64132 Mutual savings bank
64139 Other savings institution
64201 Asset investment company
64209 Other investment agency
64911 Financial leasing industry
64912 Development finance agency
64913 Credit card and installment finance industry
64991 Fund management industry
64992 Financial holding company
64999 Other non-classified finance industry
69400 Intangible property right leasing industry
65110 Life insurance industry
65121 Damage insurance industry
65122 Surety insurance industry
65131 Health insurance industry
65139 Industrial accident and other social security insurance industry
65200 Reinsurance industry
66121 Stock brokerage industry
66122 Futures brokerage industry
66191 Securities management and storage industry
66192 Investment consulting industry
66201 Damage assessment industry
66202 Insurance agency and brokerage industry
66209 Other insurance and pension-related service industry
7.Tourism convention55111 Hotel industry
55113 Resort condominium management industry
55119 Other tourism accommodations operation industry
752 Travel agency and other travel assistance service industry
91239 Other water amusement service industry
91210 Amusement and theme park operation industry
73902 Translation and interpretation service industry
75992 Exhibit and event agency industry
8. Biomedical21101 Pharmaceutical compound and antibiotic manufacturing industry
21102 Biological agent manufacturing industry
21210 Completed medicine manufacturing industry
21220 Oriental herbal medicine manufacturing industry
21230 Animal medicine manufacturing industry
21300 Medical supply and other medical-related product manufacturing industry
27111 Radiation device manufacturing industry
27112 Electrical diagnosis and treatment device manufacturing industry
27191 Dental device manufacturing industry
27192 Orthopedic and body-correcting device manufacturing industry
27199 Other medical device manufacturing industry
86101 General hospital
86102 Hospital