| Benefit as a % of spend | 25.00 |
| Financial cap per production | 300000000 |
| Do I have to register/set up a company? | Optional |
| Does foreign cast/crew paid in their home country/region qualify as expenditure? | No |
| Do foreign cast/crew have to pay tax in the host country/state/region? | Yes |
| Does travel to/from country/region qualify as expenditure? | Yes |
| Can a production qualify for other national incentives such as cultural programmes if it qualifies for this incentive? | No |
| Criteria to access the benefit | - - Minimum shooting days: 10
- - Minimum spend 300000000 (in local currency)
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| When will the benefit/incentive be received? | - - On submission of audited accounts
- - State approx. number of months after completion of audited accounts
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| Additional incentives or advantages | - - VAT / GST /Sales Tax recoverable
- - Eligible productions will be evaluated on:
(1) the degree to which the work creates tourism ("tourism creation");
(2)the degree to which the work contributes to Korean film industry's capacities, ("capacities contribution"); and
(3) the extent to which foreign capital participates in the work ("foreign producer participation").
No more than 50% of the total QPE shall be post-production costs.
Any production cost for which public financing in Korea has been made available shall not be recognized as a QPE.
Travel to Korea by non-resident cast and crew may be included as QPE for incoming journeys:
- for foreign cast and crew who work on the production for a period of 10 days or
more; and
- when the airline fare is paid to a business entrepreneur in Korea
The grant is subject to taxation.
Application period : No later than September 30, 2011
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