Memoranda of understanding (MOUs) covering investments, the signing of investment agreements and the completion of factories are some of the keywords found in news headlines when searching for news about Haman-gun County.

Haman-gun County in Gyeongsangnam-do (South Gyeongsang Province) has a good balance of agricultural and manufacturing industries. It is home to 13 general industrial complexes and 10 agricultural industrial complexes, including those that are being built or which are nearly completed. A total of 2,500 companies are located in the county, employing 33,000 people. There are many factors in play encouraging industrial complexes to continue to be formed in the county, and many companies are moving into the complexes. Most of all, Haman-gun County's strong support for industry and its accessibility to the rest of the country are key reasons.



Haman-gun Country offers a range of benefits to investors and companies located in its industrial complexes. For qualified companies, the county provides zero-interest loans equal to half of the value of the factory lot they intend to purchase. The county also offers support for capital investments. For manufacturing firms operating in Haman-gun County, the county also compensates the companies for up to 3 percent of the interest on their bank loans worth up to KRW 300 million. It also gives tax breaks on acquisitions and on property taxes.

"For international companies, we provide a range of benefits, including tax breaks, a reduction on their rent and cash support," said Cho Hyun-kang, a business division support officer in Haman-gun County. "Companies have different situations, so they can consult the county office's corporate assistance center and find out more about the benefits for which they're eligible."

Investments that meet certain criteria can receive financial support from the county office in relation to purchasing land, employment, training and aid for building facilities. These conditions are as follows: a company must invest at least USD 1 million, it must be in the high-tech or industrial support services industry and it must employee over 30 people. If a company invests USD 5 million or more, and it is either a machinery, automobile, aerospace, shipbuilding or life sciences firm, and if it employees 50 or more people, the company is subject to even more support. Finally, if a company lays out USD 10 million or more, builds a new factory or expands an existing factory, and employees 50 or more people on a regular basis, the company is also eligible for support.



"The advantage of the Haman Industrial Complex is its high accessibility, meaning convenient logistics," said Cha Tae-hyeong, director of management administration at the Haman Industrial Complex.

Haman-gun County is adjacent to the Gunbuk Interchange along the Namhae Expressway. National Route No. 79 runs through it. It takes three hours to get to Seoul by the high-speed KTX train service. It is also only a 40-minute drive from Gimhae International Airport, and an hour from Busan. It is also close to cities such as Changwon, Masan and Jinju.

Haman-gun County runs a call center (82-55-580-2671, - 2672 or -2673), offers free consultations to firms looking to make an investment in the county and supports investors investing and doing business in the Haman Industrial Complex.

By Jeon Han, Limb Jae-un
Photos: Jeon Han
Korea.net Staff Writers
hanjeon@korea.kr