25 part 3. Projects of JDC subject to Investment Progress 2006.12 Announcement of plan to create an English-only town 2009.06 Groundbreaking for site development 2012.10 Opening of BHA 2014.07 Opening of the English Education Center and 119 Center 2007.09 Establishment of a master plan for Global Education City (Prime Minister’s Office) 2011.09 Opening of NLCS Jeju and KIS Jeju 2013.09 Opening of KIS Jeju High School 2017.10 Opening of SJA Jeju 2019.06 Opening of multipurpose sports field Incentives Provided by the Investment Promotion District Reduction of national taxes - Exempted from corporate and income taxes for 3 years and 50% reduction for the next 2 years - 50% reduction of corporate and income taxes for development project implementers for 3 years and 25% reduction for the next 2 years - Exempted from tariffs on capital goods imported for direct use by the target business within 3 years from the date of designation Reduction of local taxes - Exempted from acquisition tax for up to 5 years from the date of designation (first real estate acquisition date in the case of complexes) - Exempted from property tax for 10 years from the date of designation (date of first tax obligation in the case of complexes) Reduction of various levies - Exempted from the development levy and shared water occupancy and usage fee - 50% reduction of farmland conservation levy, alternative grassland, and forest resource creation fee, 15% reduction of the sewage producer levy Investment Attractiveness Domestic and foreign recogized academic qualifications 100% admission guaranteed for Korean nationals Free of regulation for estabilishing domestic or foreign profit and non-profit corporate Guaranteed autonomy for schools and deregulation of establishment
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