Business · Companies · 1 hr ago
Gyeonggi cities expand incentives to attract business investment
Three cities in South Korea’s Gyeonggi province are expanding business support to attract investment and create jobs.
Pyeongtaek is preparing a 12 billion won emergency fund for small and medium-sized businesses facing crises such as disasters or sharp rises in oil prices.
The city plans to set aside 3 billion won each year for four years starting next year, so it can respond faster when companies need help.
Ansan has raised its maximum investment grant from 200 million won to 500 million won, and has awarded the first grant to semiconductor materials company Entegris Korea.
Siheung will offer up to 600 million won per company for facilities, rent and hiring local residents.
The cities say the measures aim to bring in investment, jobs and local economic activity; the article does not specify further steps beyond the planned funding and grant programs.
Several Gyeonggi Province cities are expanding investment incentives to attract businesses and create jobs.
Pyeongtaek is preparing a 12 billion won fund to provide emergency support to small and medium-sized businesses.
Ansan has raised its investment grant ceiling from 200 million won to 500 million won.
Siheung offers companies up to 600 million won in combined grants for facilities, rent and local hiring.
The cities say the measures aim to strengthen the local economy and create a better environment for businesses.
- Who
- Local governments in Pyeongtaek, Ansan and Siheung, in Gyeonggi Province.
- What
- They are introducing or expanding funds and grants to attract business investment.
- When
- Yonhap reported the measures on November 14, 2026; Siheung’s revised ordinance took effect the previous month.
- Where
- Pyeongtaek, Ansan and Siheung, South Korea.
- Why
- To attract companies, create jobs, support businesses and strengthen local economies.
This story does not have two clearly opposing sides.
Integris Korea began operating its six-floor comprehensive research center, built with a 50 billion won investment at Hanyang University ERICA Campus Innovation Park.
Siheung’s fully revised investment-promotion ordinance took effect.
Yonhap reported that Pyeongtaek, Ansan and Siheung were strengthening incentives to attract business investment.
- Pyeongtaek fund
- 12 billion won planned, to be accumulated at 3 billion won a year for four years starting in 2027
- Ansan grant ceiling
- Raised from 200 million won to 500 million won
- Ansan eligibility
- Local companies: investment of at least 10 billion won or 50 or more permanent employees; outside companies: investment of at least 5 billion won or 30 or more hires
- Integris Korea
- Received Ansan’s first investment-attraction grant of 500 million won
- Siheung combined grants
- Up to 600 million won per company for facilities, rent and hiring
- Siheung local hiring support
- 700,000 won per month per eligible hire, for up to one year; capped at 100 million won per company
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What people are saying
The goal is to improve residents’ living conditions through a virtuous cycle of attracting businesses to the region and creating new jobs.
With the belief that our city can thrive only if businesses come, we are concentrating administrative efforts on creating a business-friendly environment.