ITㆍDIGITAL CONTENT INDUSTRY IN SEOUL

ITㆍDIGITAL CONTENT INDUSTRY IN SEOULSEOUL METROPOLITAN GOVERNMENT

ENGLISH

ITㆍDIGITAL CONTENT INDUSTRY IN SEOULSEOUL METROPOLITAN GOVERNMENT

Contents

IT Industry 06TheGlobalITIndustry 07

Korea’sGlobalITMarketPosition 09

Korea’sITIndustry 10

MarketsbySector 12

LaborForce 19

GovernmentPolicy 19

SuccessStory:IBM 20

SeoulMetropolitan

Government’sITIndustry21

DigitalMediaCity 22

MagokDistrict 24

GongneungDistrict 26

SeoulDigitalIndustryComplex 29

Incentives for ITㆍDigital Content Industry 74

TaxAbatementforForeign-InvestedCompanies75

Foreign Investment Process 82BusinessActivitiesofForeignCompaniesinKorea83

ForeignDirectInvestmentProcess 84

Foreign Investment Incentives 86LandSupport 87

TaxSupport 88

CashGrant 89

OtherSupport 90

ForeignInvestmentIncentives 91

Support Organizations 92

ITㆍDIGITAL CONTENT INDUSTRY IN SEOULSEOUL METROPOLITAN GOVERNMENT IT

DIGITA

L Digital Content Industry 32DigitalContentIndustry 33

MarketOverviewbyBusinessType 37

DigitalContentIndustry

SupportPolicyandOutlook46

SWOTAnalysis 48

Industrial Sites 50CurrentDistributionbyRegion 51

PromisingInvestmentsinthe

DigitalContentIndustryinSeoul52

SuccessStory:Actozsoft 67

Support Digital Content Industries 68PolicySupport 69

FacilitiesSupport 71

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IT Industry

The Global IT IndustryIn the second half of 2008, theU.S. financial crisis

sparked an economic downturn that stretched

into a global recession in 2009. In the first half of

2010,Europe(Greece,etc.)setoffanother financial

crisis, leading toa slowdown in ITdemand.Having

weatheredtheITbubble-burstof2001,theglobalIT

industryfacedanotherchallengingtime.

According toGartner, the global ITmarket in 2009

was at USD 3.2 trillion, decreasing 4.5% from the

previousyear.Asof2010,theindustryisexpectedto

growatanaverageannualrateof4.5%toreachUSD

4trillionby2014.CommunicationdevicesandSWare

expectedtogrowatanaverageannualrateof7.4%

and6.3%,respectively.

Global IT Market Trend

15,706

40,21338,58436,95635,38133,94132,22733,737

3,875

8,091

2,2543,810

15,269

3,650

7,765

2,2083,335

15,965

3,918

8,211

2,3213,526

16,401

4,254

8,547

2,4663,713

16,881

4,582

8,982

2,6303,882

17,373

4,905

9,466

2,806

4,035

17,850

5,206

9,972

2,994

4,191

통신서비스 통신기기

2009 2010

IT서비스 합계소프트웨어 컴퓨팅하드웨어 [단위 : 억달러]

통신서비스

통신기기

IT서비스

소프트웨어

컴퓨팅하드웨어

[단위 : %]

5.7 5.1 5.77.3

4.6

-12.5 -2.1 -4.0 -5.8 -2.8

소프트웨어

6.9%

컴퓨팅하드웨어

10.3%

통신서비스

47.4%

IT서비스

24.1%

통신기기

11.3%

TelecommunicationsService CommunicationDevice ITService SW HW Total (Unit:100millionUSD)

Source:Gatner(2010)

IT IndustryITㆍDIGITAL CONTENTS INDUSTRY IN SEOUL / SEOUL METROPOLITAN GOVERNMENT

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2001

25.6

42.8

13.6 16.1 19.3 19.3 17.821.5

25.330.1

43.6 44.1 44.3 43.5 46.052.5

5.7

9.8

7.1 7.9 9.9 10.2 10.7 11.2 9.8 11.3

32.9 32.436.9

42.3 41.5 44.0 42.846.1

2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

2001 2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

60

2001년 이후 9년째 세계 1위

세계 3위 유지지속

2005년부터 세계 1위


2001

25.6

42.8

13.6 16.1 19.3 19.3 17.821.5

25.330.1

43.6 44.1 44.3 43.5 46.052.5

5.7

9.8

7.1 7.9 9.9 10.2 10.7 11.2 9.8 11.3

32.9 32.436.9

42.3 41.5 44.0 42.846.1

2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

2001 2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

60

World #1 for 9 consecutive years since 2001

Maintaining world #3

World #1 since 2005

World #1 since 2008

2001

25.6

42.8

13.6 16.1 19.3 19.3 17.821.5

25.330.1

43.6 44.1 44.3 43.5 46.052.5

5.7

9.8

7.1 7.9 9.9 10.2 10.7 11.2 9.8 11.3

32.9 32.436.9

42.3 41.5 44.0 42.846.1

2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

2001 2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

60

2001년 이후 9년째 세계 1위

세계 3위 유지지속



2001

25.6

42.8

13.6 16.1 19.3 19.3 17.821.5

25.330.1

43.6 44.1 44.3 43.5 46.052.5

5.7

9.8

7.1 7.9 9.9 10.2 10.7 11.2 9.8 11.3

32.9 32.436.9

42.3 41.5 44.0 42.846.1

2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

2001 2002 2003 2004 2005 2006 2007 2008 20090

10

20

30

40

50

60

World #1 for 9 consecutive years since 2001

Maintaining world #3

World #1 since 2005

World #1 since 2008

15,706

40,21338,58436,95635,38133,94132,22733,737

3,875

8,091

2,2543,810

15,269

3,650

7,765

2,2083,335

15,965

3,918

8,211

2,3213,526

16,401

4,254

8,547

2,4663,713

16,881

4,582

8,982

2,6303,882

17,373

4,905

9,466

2,806

4,035

17,850

5,206

9,972

2,994

4,191


2009 2010


[단위 : %]

5.7 5.1 5.77.3

4.6

-12.5 -2.1 -4.0 -5.8 -2.8

6.9%10.3%47.4%

24.1%

11.3%

15,706

40,21338,58436,95635,38133,94132,22733,737

3,875

8,091

2,2543,810

15,269

3,650

7,765

2,2083,335

15,965

3,918

8,211

2,3213,526

16,401

4,254

8,547

2,4663,713

16,881

4,582

8,982

2,6303,882

17,373

4,905

9,466

2,806

4,035

17,850

5,206

9,972

2,994

4,191


2009 2010


[단위 : %]

5.7 5.1 5.77.3

4.6

-12.5 -2.1 -4.0 -5.8 -2.8

6.9%10.3%47.4%

24.1%

11.3%

In 2009, the IT industry’smarket share by sector was as follows: 71.5% for services, including telecom

services at 47.4%, 21.7% for the hardware sector and 6.9% for the software sector.By 2014, themarket

share for computinghardwareand telecommunications services isexpected todrop,while softwareand

communicationsdevicesareexpectedtoshowslightincreases.

Korea’s Global IT Market PositionKorea’smajorITproductsarememory,semiconductors,

display panels andmobile phones. For nine years

since 2001, memory ranked 1st in the world and

semiconductors ranked 3rd. Display panels have

ranked 1st in the world since 2005 and mobile

phoneshave ranked2nd in termsofmarketshare

since2008.

Global IT Market by Sector

Memory, Semiconductor, Display Panel, Mobile Phone Global Market Share

(Unit:%)

(Unit:%)

(unit:%)Global IT Market Change by Sector

20102009

Global IT Market Composition by Sector (2009)

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MajorIT-relatedinternationalindicesshowthatKorearanks1stfore-government,2ndforICTinfrastructure

and3rdforITinfrastructureandinformationandcommunicationdevelopment.

Korea’s IT IndustryDue to theglobal economic crisis, theworld ITmarket in2009 recordednegativegrowth, butKorea’s IT

industryproductiongrewby1.1%,contributingtoovercomingtheglobaleconomiccrisis.Korea’sratioofIT

industrytorealGDPwas9.5%in2007butincreasedto10.4%in2009.TheITindustry’scontributiontoGDP

growthwas24.4%in2008butawhopping216.3%in2009.TheindustryhasplayedakeyroleinpullingKorea

outoftherecessionwhilerecording0.2%growth.

In2009,productionsizebysectorwasasfollows:informationcommunicationdevice&applicationplatform,

USD205billion(73.1%);telecommunicationservice,USD54billion(19.3%);andSW,USD21billion(7.6%).The

compoundannualgrowthratefrom2003to2009forthesesectorswas:informationcommunicationdevice&

applicationplatform,6.7%;ITindustryproduction,6.5%;telecommunicationservice,6.3%;andSW,5.0%

6.3 6.7

5.0

6.5

2010 2011 2012[E]

10

20

30

40

0

25%

13%

31%

19%

38%

29%

낸드플래시 DRAM

15.9

139.4

37.5

16.2

162.5

41.5

17.8

166.9

44.3

19.6

176.8

46.8

20.8

185.1

49.8

22.0

202.8

53.1

21.3

205.3

280.87277.9255.7243.23229.0220.0193.0

54.2

19.3%

7.6%73.1%

6.3 6.7

5.0

6.5

2010 2011 2012[E]

10

20

30

40

0

25%

13%

31%

19%

38%

29%


15.9

139.4

37.5

16.2

162.5

41.5

17.8

166.9

44.3

19.6

176.8

46.8

20.8

185.1

49.8

22.0

202.8

53.1

21.3

205.3

280.87277.9255.7243.23229.0220.0193.0

54.2

19.3%

7.6%73.1%

6.3 6.7

5.0

6.5

2010 2011 2012[E]

10

20

30

40

0

25%

13%

31%

19%

38%

29%


15.9

139.4

37.5

16.2

162.5

41.5

17.8

166.9

44.3

19.6

176.8

46.8

20.8

185.1

49.8

22.0

202.8

53.1

21.3

205.3

280.87277.9255.7243.23229.0220.0193.0

54.2

19.3%

7.6%73.1%

Korea’s Ranking on IT Related International Indices

Status of IT Production in Korea

IT Industrial Production (2009) CAGR 2003 2009

IT Industry’s GDP Contribution, Ratio and Growth Contribution

2

8

5

3 3

1

0.20.4

7.2

1.3

2.8

1.1

4.6

1.4

4.0

1.0

5.2

1.1

5.1

0.7

2.3

0.6

40.3

30.626.2

20.914.5

24.3

216.3

10.47.1 8.0 8.6 9.2

9.5

9.9

2

8

5

3 3

1

0.20.4

7.2

1.3

2.8

1.1

4.6

1.4

4.0

1.0

5.2

1.1

5.1

0.7

2.3

0.6

40.3

30.626.2

20.914.5

24.3

216.3

10.47.1 8.0 8.6 9.2

9.5

9.9

2

8

5

3 3

1

0.20.4

7.2

1.3

2.8

1.1

4.6

1.4

4.0

1.0

5.2

1.1

5.1

0.7

2.3

0.6

40.3

30.626.2

20.914.5

24.3

216.3

10.47.1 8.0 8.6 9.2

9.5

9.9

(Unit:%)

InformationandCommunicationDevicesandApplicationPlatformsSW

InformationandCommunicationServices

InformationandCommunicationDevicesandApplicationPlatformsSW

InformationandCommunicationServices Total

Total

(Unit:USDbillion)

(Unit:%)

Source:InformationandCommunicationServicesKAIT(2010.4)InformationandCommunicationDevicesandSWKEA(2010.4)

Source:KoreanStatisticalInformationService

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Markets by SectorWith the economic crisis triggered by Europe

in 2010, the consumer markets of the U.S. and

other developed countries contracted, resulting

in decreases in production and exports of mobile

phones, TV and othermajor IT products. By 2011,

smartphones,3DTVsandotherpremiumproducts

showed robust growth, butwith falling prices, the

marketsize(basedonamount)isestimatedtogrow

only slightly. In contrast, the semiconductor and

displayindustry–whichhadanoversupplyproblem

lastyear–willseeimprovedresultsthisyeardueto

thebankruptcyofJapan’sElpida,although itwon’t

growasmuchasitdidinpreviousyears.

Information Communication Device (Mobile phone/Mobile device) Sector

Despiteadverseeconomicconditionsinrecentyears,productionandexportsintheinformationcommunication

deviceindustryshowedrobustgrowth,withtelecommunicationdevicestakingthelead.Theirproductionand

exportsrecordednegativegrowthin2010,butinthefirsthalfof2011,thestrongimpactofsmartphonesled

toa9.5%increaseinproductionand15.1%increaseinexports.In2012,smartphonesagainshowedahigh

growthratewithmorethan20%andareexpectedtoaccountfor33%ofthemobilephonemarket.TabletPCs

alsoshowhighdemandamidalaggingPCmarket,withabout100millionsetsin2012.

Smart device’s dual trend of 'low-cost and higher

quality' is getting more distinct. Smartphones are

expensive withmost of the phones over USD 190. In

the second half of 2012, competition between major

companieswillintensifyandmanynewproductswillbe

launched leading todrop inprice.On theotherhand,

continuous development of high-end handsets with

nextgenerationdisplay,sense-aware technology,and

smartinterfaceisexpected.Also,thedeploymentofthe

4GnetworksuchasLTEwillhelphigh-endsmartphone

spreadinthemarket.

Industry

Growth rate(Production, Export) Outlook

2011 2012

Information communication

devices

7.2%9.7%

5.1%3.8%

•�Koreansmartphonecompaniesaregainingrecognitionbutoverseasproductionresultsindecreasedexports.•Morecomputerperipheralsareproducedoverseas,decreasingproductioninKorea.

Semiconductor 0.6%1.3%

7.6%8.5%

•�SamsungElectronicsandHynixcanexpectbenefitsfromElpida’sbankruptcy.•DRAMisshowingstagnationbutdemandforNANDflashisincreasing.

Display -3.8%-5.8%

2.5%5.6%

•�HighmarketgrowthexpectedwiththenextgenerationdisplayssuchasAMOLED,flexibledisplay,etc.•Sufferedfromoversupplyin2011butexpectsrecoveryin2012

Electronics 6.9%6.3%

3.6%3.0%

•TVmarketissaturatedandwillstagnate.•�Whitegoodsmarketexpectsstablegrowthduetopremiumproducts.

2010 2011 2012(E)Growth year over year(%)

2011/2010 2012/2011

Production 61,478 65,904 69,266 7.2 5.1

Domestic Demand

41,687 46,731 51,591 12.1 10.4

Export 36,721 40,283 41,814 9.7 3.8

Import 14,792 19,038 22,230 28.7 16.8

IT Industry Outlook

(Unit:millionUSD)

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Semiconductor SectorMemorysemiconductormarketin2011sufferedfromoversupplywhichsawtheDRAMpriceplunge40%,the

marketsizeshrankby11%fromtheyearbefore.Especially,themarketgrowthfornewPCswhichaccounts

for50%ofDRAMdemandslowedtolessthan5%.ButrecentbankruptcyofJapan’sElpidaisexpectedtobring

benefitstoSamsungElectronics,Hynix,Micronandothersemiconductorcompanies.Andwiththecutinthe

supply,theDRAMpricewillstabilize.AlsothedemandforNANDflashmemoryisexpectedtoincreasedueto

thegrowthofsmartphonesandtabletPCs.

Duetodeterioratingprofitability,thememorysemiconductorindustrywillfocusonimprovingprocessesto

enhancesupplycapacityrather thanmakingcapitalexpendituresonnew facilities.The industry’sCAPEX

plummetedtoUSD8.3billionin2011fromUSD11.9billionin2010.

Semiconductor Production and Export Outlook

Major DRAM Company’s Process Transition Trend

Since2000,high-speedInternetandPCdisseminationhaveledthedemandforPCsemiconductors,butsmart

devicesareexpected todrivedemand formemory in the future.ThemobileDRAMmarketshare in2012

isexpected to increaseby29%,and theNANDflashmarketwillbestimulateddue tostrongdemand for

smartphonesandSSD.

2010 2011 2012(E)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Samsung Electronics

35nm 25nm

Hynix 44nm 38nm 25nm

Micron 50nm 42nm

Elpida 45nm

Nanya 50nm 42nm 38nm

2010 2011 2012(E)Growth year over year (%)

2011/2010 2012/2011

Production 55,281 46,365 50,325 0.6 7.6

Export 50,707 61,641 66,346 1.3 8.5

(Unit:millionUSD)

Mobile-related Memory Ratio

정보통신서비스

정보통신기기및 응용기반

SW 합계

6.3 6.7

5.0

6.5

2010 2011 2012[E]

10

20

30

40

0

25%

13%

31%

19%

38%

29%


15.9

139.4

37.5

16.2

162.5

41.5

17.8

166.9

44.3

19.6

176.8

46.8

20.8

185.1

49.8

22.0

202.8

53.1

21.3

205.3

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54.2

정보통신서비스

정보통신기기및 응용기반

SW

19.3%

7.6%73.1%

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Sincetheeconomiccrisisin2009,Korea’selectronicsindustryhasshownstablegrowthledbyTVs,refrigeratorsand

airconditioning.In2010,TVproductionandexportsrosedramaticallyby20%and50%,respectively.Also,refrigerators

andairconditionerssawa19.2%increaseinproduction inthefirsthalfof2011anda17.3%increaseinexports inthe

sameperiod.Butwiththeglobalconsumerelectronicsmarketbecomingsomewhatstagnant,theelectronicsindustry’s

productionandexportsareexpectedtoslowin2012.

Duetogovernmentsubsidiesandstimuluspackages,

theTVmarketin2010showedsharpgrowthof17.6%.

ButwiththerapidcollapseoftheJapanesemarket,

2012willcontinuetoseestagnation,continuingthe

2011trend.Asthedigitalbroadcasttransitionsubsidy

policyisvaliduntil2012,wecantemporarilyexpect

theTVmarket toexpand in2012.DemandforPDP

TVs isset todeclinebutdemand forpremiumTVs

suchasLEDTVs,3DTVs,SmartTVsandAMOLED

TVswillcontinuouslyincrease.

Meanwhile, the white goods market will continue

to grow due to an increase in high-end demand.

Expensive products like double-door refrigerators

and drum laundrymachines are leading thewhite

goodsmarket. InEuropeandtheU.S.–wherethe

whitegoodspenetrationlevelishigh–expensive,and

largepremiumproductsaregainingmarketshare.

Thenumberofhouseholds isexpected to increase

significantlyintheMiddleEast,Africa,LatinAmerica

and Asia, which would lead to higher demand for

whitegoodsbutaslowergrowthrate.

Consumer Electronics Sector

Consumer Electronics Market


2011/2010 2012/2011

Production 29,240 31,257 32,389 6.9 3.6

Domestic Demand

18,556 20,737 21,408 11.8 3.2

Export 12,816 13,623 14,025 6.3 3.0

Import 4,304 4,444 4,495 3.3 1.2

(Unit:millionUSD)

Display SectorIn the firsthalfof2011, thedisplay industry’sproduction

andexportsdeclined4%and5%,respectively.Aggressive

facilities expansions that began in 2009 and market

contraction in the developed world, such as in Europe

and Japan, caused a market oversupply, which caused

somepanelpricestodropbelowproductioncostsin2011.

SamsungElectronics(LCDdivision),LGDisplayandother

major Korean display companies incurred heavy losses.

In 2012, production and exports will increase from the

previousyearbutwillnotreachthe2010level.Production

volume of USD 78 billion in 2010 decreased to USD 76

billion in2011. In2012, it isexpected to recover toabout

USD 78 billion. As for exports, they reached USD 33.8

billionin2010,decreasedtoUSD31.8billionin2011and

recoveredtoUSD33.6billionin2012.

Display Supply and Demand

LeadingdisplaycompaniesareactivelycommercializinglargeAMOLEDpanels,aspreviousmarketslikePDPand

LCDarestagnating.Therefore,competitionwillintensifyasmajorcompanieshavesetouttocompeteforthenext-

generationdisplayinitiative.SamsungMobileDisplay,whichdominatesthesmall,medium-sizedAMOLEDmarket

forsmartphones,planstooperateageneration8linein2012.LGDisplaywillskipthegeneration5.5line,whichis

easiertoproduce,andrushtooperatethegeneration8line.LGDisplaychosetousethewhiteOLED+colorfilter

methodtomass-producethelargeAMOLEDpanels,asitsmanufacturingprocessisrelativelysimple.


2011/2010 2012/2011

Production 78,773 75,744 77,647 -3.8 2.5

Domestic Demand

50,955 50,778 51,408 -0.3 1.2

Export 33,772 31,826 33,608 -5.8 5.6

Import 6,496 6,679 6,958 2.8 4.6

(Unit:millionUSD)

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Labor Force

Government Policy

RatioonKorea’sITworkforcebreakdownisasfollows:

TheadministrationreorganizedthegovernmenttoconsolidateandadjustduplicateinvestmentsinITR&D.

Itsgrowthobjectivewasto“advancetheITindustry”bygaininggrowthmomentumthroughcross-industry

integration.ItemphasizedIT’sroleastheproductionfactorandintegrationbetweenITandmajorindustries,

callingforITutilizationacrossallindustries.Toaccomplishthis,policieslike“NewITStrategy”(2008),“Green

ITStrategy”(2009)and“ITKoreaFutureStrategy”(2009)wereestablishedtosupportcompanies.

Computer SW

Electrical and Electronic Manufacturers

Computer System Integration

Internet

Communications

Information Service

Computer Game

Semiconductor

Mobile and Wireless

Online Education

Web Program

E-Commerce

Computer Security

Computer Networking

Computer HW

Internet Media

Electronics

Web Design

Factory Automation

Animation

18.2%

10.8%9.9%9.8%

7.9%5.5%

5.0%4.5%

4.2%3.1%3.0%

2.9%2.6%2.5%2.5%2.4%2.4%

1.6%0.9%

0.4%

1위

2위

3위

4위

5위

6위

7위

8위

9위

10위

19위

미국

덴마크

스웨덴

캐나다

호주

스위스

핀란드

싱가포르

영국

프랑스…한국

순위 점수

30.11

29.26

28.63

28.52

28.41

27.90

26.75

26.66

23.60

39.04

31.85

Korea’s IT-Specialized Labor Force by Sector

Source:Linknow

Market Summary

1999|2000|2001|2002|2003|2004|2005|2006|2007|2008|2009|2010 | 2011

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Incheon

IT Location

Seoul Metropolitan Government’s IT IndustrySeoulistheITheartofKoreaandhometo45%ofthenation’sITcompaniesand30%ofthenation’sworkforce.

Seoul’sITindustryisconcentratedintheGangnam-gu,Seocho-guandGuro-gudistricts.

Source:Linknow(2011)

Potential of the Korean Market

(Hui-seong Lee, CEO of IBM Korea)

IBMgroupscountriesnotbyregionbutbymarket

characteristics.AsIBMKoreafallsintothecat-

egoryofgrowingcountry, thecompanyactively

carriesout investmentandbusiness, indicating

thatIBMKoreahighlyvaluesthegrowthpotential

oftheKoreanmarket.

A leading example of that potential is IBM’s

worldwide innovation agenda, which is called

SmarterPlanet.Korea,perhapsmorethanany

othercountry,agreeswiththeideathatasmart

systemmakesasmartworld,andisveryactive

in theSmarterPlanetprogram. IBMKoreabe-

lievesthatanenvironment inwhichtheIBMvi-

sioncanberealizedisthegreatestpotentialof-

feredbytheKoreanmarket.

Success Story : IBM

Financial Status

IBM is a subsidiary of IBM Korea Holdings B.V in

theNetherlands.Itsbusinessincludessystemde-

velopment and supply, consulting, and computer/

information processing device and office equip-

mentsales,aswellasarentalandrepairservice.

Although the company’s revenue is steady, itsnet

profit is increasingeachyearasadirect resultof

thecompany’sefforts to improve theprofit struc-

ture.

0200

-2002002 2003 2004 2005 2006 2007 2008 2009 2010

400600800

1,0001,200

050

2002 2003 2004 2005 2006 2007 2008 2009 2010

100

450

020

-202002 2003 2004 2005 2006 2007 2008 2009 2010

406080

100120140

150200250300350400

(Unit:millionUSD)

Information Communication Technology Company Support Fund _ In 2012, the Seoul Metropolitan

Government(SMG)willinvestUSD127millionin663informatizationprojectstostimulatetheeconomy.The

SMGwillinvestUSD2milliontoestablishtheInformationStrategyPlan,USD23milliontobuildthesystemand

USD4millioninprocess-improvements.Thegovernmentisinvestingnotonlyinmaintenanceandcomputer

equipment,butalsoinsoftwaredevelopmentandtheITHopeSharingprogram.

IT Specialized District Designation _ TheSMGbuilttheSungsooITGeneralCenter,whichsupportsproduct

exhibition,generalconsulting,financialsupportfacilityandmore.Thebuilding’stotalareaspans9,900m2,

withsixlevelsundergroundand14aboveground.Thegovernmentplanstoprovideaffordablerentalspace

andsupportdifficultoperationalfunctionssuchasR&D,financialmatters,humanresourcesandmarketing

consultingatthecenter.

Tax support for apartment-type factory _ TheSMGisexemptingacquisitiontaxandregistrationtaxand

applyingindustrialprices(50%)inpublicutilitiesforITcompaniesmovingintoapartment-typefactories.

IT Workforce in Seoul

Seoul Metropolitan Government’s Support Policy

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TheDMC,orDigitalMediaCity,isanadvanceddigitalmedia

entertainment(M&E) cluster currently under construction

in theSangamZoneona 569,925m2 site inNorthwestern

Seoul.TheprojectisledbytheSeoulMetropolitanGovern-

mentandisscheduledforcompletionin2015.Atpresent,

350advancedM&EandITbusinessesarelocatedandover

25,000 people work in the DMC. By 2015, over 600 busi-

nesseswillhavebeenoperatingtherewithatleast60,000

employeesworkingthere.

Digital Media City

Overview

Current Status of Businesses Operating in DMC

Industry Businesses

Game •KoreaGameDevelopersAssociation,KoreaGameSociety,NeowizENC,DongyangOnline,Gravity,E-mirEntertainment,GameIncubatingCenter,GeoInteractive,etc.

Broad-casting

•CJMedia,GugakFMBroadcastingSystem,CJTVN,KBSMedia,KBSi,etc.

Movies •MnFC,KoreaFilmCouncil,VisualStoryFactory,Chungeoram,etc.

Internet •Korea.comCommuncation,NemoCommuncation,etc.

Telecom •Pantech,LGTelecom,XeLine,etc.

IT •KoreaHoneywell,WooriTechnology,LGCNC,KETI,etc.

BT •Bioneer,I-Gene,AdvancedBiotechnology,Ecowell,etc.

HW •FujiZeroxAsiaPacific,PTELtd.,SRC,JooyonTechCo.,Ltd,etc.

SW •HyundaiCard,DaesungHoldings,EsumTech,HKe-Car,Site-On,etc.

Easy Access to Northeast Asian Markets TheDMC isaccessible from Incheon International

Airport, the hub of East Asia, within 30 minutes

eitherbyhighwayorexpressrailway.AhugeEast

Asianmarketof1.7billionpeoplecanbereachedin

justtwohoursfromtheDMC.

The Enormous Seoul Metropolitan Market DMC is located in themiddleof ahugemarketof

24millionconsumersinSeoulandthesurrounding

GyeonggiProvince,providingthebestaccesstoone

ofthebiggestdomesticmarketsintheworld

Location LandDevelopmentArea,SangamNewMilleniumNewCity,Mapo-gu,Seoul

Area 569,925m2(BusinessArea:335,134m2/PublicArea:234,791m2)

Period 2002~2015

Developer TheSeoulMetropolitanGovernment

Target Industry

•�Mediaindustryincludingbroadcasting,movies/animation,games,music,digitaleducationandanybusinessesinvolvedinR&Dforentertainment-relatedtechnolo-giesortheproductionanddistributionofdigitalcontent•Businessesdistributingorconsumingdigitalcontent•SoftwareorotherIT-relatedservicebusinesses•IT,BTorNTR&Dormanufacturing

Seoul City Hall16.34km(29minutes)

Incheon International Airport46.05km(47minutes)

Gimpo Airport6.43km(20minutes)

Seoul City Hall 10.36km(20minutes)



Cutting-edge IT Infrastructure CitizenswithintheDMCcomplexcanaccesstheInternetfreeofchargethroughawirelesshigh-speedfiber

opticnetworkanytimeanywhere.TheDMCisequippedwiththeworld’sfastesthigh-speedtelecomnetwork

andITinfrastructure.

Benefits Available to Foreign Investors• Supply of Land_Foreigninvestorsaregivenadditionalpointsuponevaluationoftheirprojectplans.

• Supply of Rental Offices_ForeignbusinessesareeligibleforlowrateswhenrentingofficesfromtheSeoul

MetropolitanGovernmentinventurebusinessfacilities,andaregivenpriorityintheassignmentofofficespace.

•��Supply of Rental Housing_TheSeoulMetropolitanGovernmentprovidesrentalhousinginconvenient

locationsforforeigners.

• Benefits under the Foreign Investment Law_Foreigninvestorsbasedinforeigninvestmentareasor

engagedinindustrysupportservicesorhigh-techindustriesareentitledtotaxbreaks(nationalandregional),

benefitsinfinancing,andexemptionsfromfeesaccordingtotheForeignInvestmentPromotionActandthe

relatedcityordinances.

•�Long-term Land & Building Rents_Foreigninvestmentcompaniesareentitledtorentlandand/orbuildings

atlowratesforupto50years.

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OverviewLocatedinsouthwesternSeoul,theMagokDistrictisan

environmentally-friendlyknowledgeindustryclusterwhere

cutting-edgetechnologyindustriesusingIT,BT,GTandNT

coexistwithorganizationsspecializingininternationalbusiness.

Itisafuture-orientedtownthatwillconnectSeoultotherestof

theworld.

Magok District AccessibilityTheMagokDistrict is directly connected to Inchon International Airport and Gimpo International Airport

throughthemetropolitanroadnetwork.ItislocatedattheheartofNorthwesternSeoul.Subwaylines5&6

runthroughthearea,asdoestherailwaytoInchonInternationalAirport.Mostnotably,theareaisrightalong-

sideGimpoInternationalAirport,whichcoversalldomesticflightsplusflightstomajorAsiancities.Allofthe

flightdestinationsfromGimpoarewithinthesingle-daybusinessrange.Also,theMagokDistrictisreachable

fromBeijing,Shanghai,OsakaandTokyowithinabouttwohours,surelymakingitoneofthebestlocationsin

whichtodobusinessinNortheastAsia.

Types of Business in the DistrictHigh-tech Industrial Complex(770,922m2) :PriorityisgiventoR&DcompaniesspecializinginIT,BT,GTandNT.

Business Complex(325,571m2) :Financing,insurance,convention,R&D,businessservices,telecomand

broadcasting

Major Companies that Will Move into the Magok DistrictLG and Kolon are set to move into the zone

Withtheconclusionofagreementswiththetwooutstanding‘an-

chor’companies,thereputationandvalueofthezonehasbeen

incontestablyreconfirmed.Agreatintegrationeffectbetweenthe

anchor companies and SME venture businesses is anticipated.

TheLGConsortiumhaspresented itsvision foranext-genera-

tionconvergenceR&Dhub,whichwillbecomeanext-generation

growth engine. It has confirmed the execution/implementation

ofaUSD3,610million investmentplan intheMagokDistrictby

theendof2012.TheareasecuredbytheLGconsortiumoccupies

58%,or133,588m2of the total area required.LGplans to con-

ductresearchanddevelopmentfornext-generationgrowthen-

ginebusinesseshereandtocreateapan-businessR&Dcenter.

TheKolonConsortiumhaspresentedabusinessplanfocusingon

watertreatment,energyandbiotechnology.Itwillbebasedonan

11,729m2site.







Location Magok-dong&Gayang-dong,Gangseo-gu,Seoul

Area 3,665,336m2

Business development status

▶�Dec.2005AnnounceMagokdistrictbasicdevelopmentplan▶2007PublicAnnouncementondistrictdesignationanddevelopmentplan▶2008Announcedevelopmentplanapproval▶Sep.2009Beginbasicfoundationconstruction▶�Oct.2011AnnounceMagokindustrycomplex’spreferredsaletoleadingcompanies▶Sep.2012Announce1stMagokindustrycomplex’sgeneralsale(planned)

Investment methods

▶Participatedevelopmentprogrambypurchasingland ※ProvideITㆍBTㆍGTㆍNTR&Drelatedcompaniesatconstructioncostprice▶Constructbuildingorleaseofficeafterbuyingland

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SeoulMetropolitanGovernmentaimsatestablishinganR&Dnetworkparticularly insuchareasasIT-

NTconvergence,electricity,bio,nuclearandmedicalindustriesthroughtechnicaldevelopment,human

resourcesdevelopmentand industry-academiacooperation.Ultimately thecitygovernmentpursuesa

greaterbalanceddevelopmentbetweenitsdistrictswhilecontributingtothetechnicaldevelopmentofthe

countrythroughthesuccessfulexpansionofDMC.

TheSeoulMetropolitanGovernmentplanstoattractmorethan50globalenterpriseswithtopnotchtech-

nologies,create2,000jobsby2014,trainmorethan200personnel,andcreateaUSD913millionmarket

intheNITpartsandequipmentindustry.

Phase II

Phase I

Contents

Location •�SeoulNationalUniversityofScience&Technology(83,905m2)at172Gongneung-dong,Nowon-gu,Seoul

Area •�30,872m2(A12-storeyheadquartersbuildingwithonebasementfloor&twootherbuildings)

Project period •2004~2008(5years)

Clients •�SeoulMetropolitanGovernment,SeoulTechPark,KEPCO,NowonDistrictOffice,MinistryofKnowledgeEcnomy

Project contents •ConstructionofNIT-relatedR&Dcentersandestablishmentofeducationalfacilities

Contents

Location •�KEPCOCentralEducationInstitute(31.417m2)at170-2Gongneung-dong,Nowon-gu,Seoul

Building area •23,140m2(10floorsincludingthebasementfloors)

Project period •Tobecompletedin2014

Clients•�SeoulMetropolitanGovernment,SeoulTechnoPark.KEPCO,NowonDisrictOf-fice,MinistryofKnowledgeEconomy

Project contents•�ExpansionoftheIndustryTechnologyComplex(andestablishmentoftheSmartGridR&DCenter)

Target industry •�Nano,ITconvergence,electricity,biotech,nuclearmedicineindustry(atafuture-orientedtechnologycomplexinnortheasternSeoulforR&Dandhumanresourcesdevelopment)

Construction budget

•USD43million(KEPCObudget)

Gongneung District

Location 172Gongneung-dong,Nowon-gu,Seoul

Land area 114,512m2

Target industry •Nano,ITconvergence,electricity,biotech,nuclearmedicineindustry

Overview







TheGongneungFutureIndustryTechnologyComplexisa

strategicprojectbeingpromotedbytheSeoulMetropolitan

GovernmenttocreateaNT,ITR&DComplexandaSubminiature

ComplexSystemTechnologyDevelopmentComplexinthe

GongneungareaofnortheasternSeoul.Thecomprehensive

complexisbeingbuiltforthepurposeofdevelopingNIT-related

businesses,promotingjointdevelopmentwithotherindustries,

andcreatingasynergyeffectacrosstheoverallindustry.

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Seoul Digital Industry ComplexInthe1960sthemainroleofthecomplexwasforthedevelopmentofexportindustriessuchasthetextiles

andgarmentsindustry.Butrecently,thevalue-addedhigh-techindustry,information-knowledgeindustry,

conglomerate’sresearchinstitutesandventurecompanieshavebeenmovingin.Andwiththeestablishment

oftheVentureCenterbyKICOX(KoreaIndustrialComplexCorp.)in2000,thecityisrapidlytransforminginto

astate-of-the-arturbanindustrialcomplex.TheSeoulDigitalIndustrialComplex’sconcentrationrateofIT

professionalsinthecountryisconsistentlygrowing,havingbeen8.9%in2008(endofDecember),9%in2009

(endofDecember)and9.2%in2010(endofJuly).

Content

Location Seoul,Guro-gu,Guro-dongandGeumcheon-gu,Gasan-dongregion

Area

Managementarea Total:1,982,000m2

Salearea Total:1,650,000m2

Minimumareaofsale IndustrialDistrict:4,959m2

Tenants

Numberoftenants Occupants:8,416InOperation:6,672

Productionandexport Production:USD3.834billion(106.2%increasefrompreviousyear)Export:USD1.052billion(101.9%increasefrompreviousyear)

Outline

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Content

Move-inconditions

Industryrestric-tion

• High-techindustrydefinedintheIndustrialDevelopmentAct,Article5,firstsection

• KnowledgeindustrydefinedintheIndustrialClusterDevelopmentandFactoryEstablishmentAct,Article6,secondsection

• InformationcommunicationindustrydefinedintheIndustrialClusterDevelopmentandFactoryEstablishmentAct,Article6,thirdsection

•City-typeindustry(limitedtoapartment-typefactory)definedintheIndustrialClusterDevelopmentandFactoryEstablishmentAct,Article25

Move-in procedure SubmitTenantContractReviewBusinessProposalSignContract

Move-in dates Rollingbasis

Move-in benefits

Tax

•Exemptiononacquisitiontaxㆍregistrationtax(atthetimeofacquiringfirstapartment-typefactory)

•50%reductioninpropertytax,aggregatedtaxonlanduse(onfirstacquisition)

Water

SeoulMetropolitanGovernment’sSmallandMediumBusinessDevelopmentFund• Supportcontent:Constructingapartment-typefactory,installingfactoryandbusiness

•Supporttarget:Apartment-typefactoryconstructors• Supportcondition:75%oftheconstructioncost(notexceedingUSD9million),75%oftheoperationcost(notexceedingUSD4.5million)

•LoanPeriod:Payableinfiveyearswithathree-yeargraceperiod,etc. 「Tel:BusinessSupportDivision,SMG_82-2-3707-9326,SeoulCityCreditFoundation_82-2-1577-6119」

Questions on tenant information

Managedby:KoreaIndustrialComplexCorp.SeoulBranchAddress:(Zipcode152-053)188-25Guro-dong,Guro-guSeoulTel:82-2-6300-6513/18Fax:82-2-6300-6520

General Move-In Information

Content

Accessibility

RoadHighway:GyeongbuExpressway’sYangjaeIC(20km),JungbuExpressway’s

SangilIC(35km),GyeonginExpressway(7km),SecondGyeonginExpressway(5km)

RailroadKTXGwangmyeongStation(7km),RailroadSeoulStation(7km),Subway:GyeonginlineGuroStation,Line2GuroDigitalComplexStation,

Line7GasanDigitalComplexStation,NamguroStation

Airport GimpoAirport(15km),IncheonInt'lAirport(30km)

PortInchon Port (28km):Accommodates25simultaneousberthing50,000

tonnage-classvessels,cargohandlingcapacity39.081milliontons,cargoberthingcapacity58

Infrastructure

Water Supply capacity:26,000tons/day,usage:16,000tons/day

Electricity Supply capacity:Voltage154kv,capacity60,000kvA/day

Communication Supply capacity:35,971lines(telephone29,719lines,integratedservicesdigitalnetwork(ISDN)52lines,dedicatedlines6,200lines)

Energysupplyfacility Supply capacity:Generic1.079millionm2,industrial80,000m2

Laborpool

Nearby city:Guro-gupopulation422,000,Geumcheon-gupopulation252,000Education institute:12middleschoolswith14,099students,6highschoolswith

7,556studentsIndustrial HR development institutes:5vocationalschoolswith3,798studentsWorking mom support platform:1nurseryoperatedbyKICOXwith79kids,

34kindergartenswith2,826kids

Livingenvironment

Medical facilities:3generalhospitals,2hospitals,184clinics,109dentalclinics,63traditionalherbalmedicineclinics,1publichealthcenterinGuro,Geumcheon-guarea

HousingGuro-gu:99,314households,Geumcheon-gu99,398households▶ Market prices:Apartmentsized73m2atlong-termleaseUSD100thousand,sellingatUSD158thousand

WaterWater source:HanRiverGayangwaterintakefacility,Household water:Seoul’sOfficeofWaterworksSupply capacity:26,000tons/day,usage:16,000tons/day

Accessibility and Infrastructure

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Digital Content Industry

Digital Content IndustryThedigital content industry takes information, cultural creations andother content in analog format and

digitizesthemintoamarketableproduct.Thedigitalcontentindustrycanbedividedinto3parts:creation/

service,distributionandsolution. Itcanbesubdivided intogame,digitalbroadcasting,video, information,

content,e-learning,digitalmusic,ebooks,mobilecontent,digitalcontentsolutions,etc.

Digital Content IndustryITㆍDIGITAL CONTENTS INDUSTRY IN SEOUL / SEOUL METROPOLITAN GOVERNMENT

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VIRONMEN

T

Portion of Digital Content Industry(2010) Portion of Channel

36,952

44,484

30,320

22,742

15,5109,922

20%15%

0%

3%

50%

1%

11%

27%

28%

29%

29%

30%

31%

36,952

44,484

30,320

22,742

15,5109,922

20%15%

0%

3%

50%

1%

11%

27%

28%

29%

29%

30%

31%

TheglobalmarketfordigitalcontentsurpassedUSD

15 trillion in2006andcontinued togrow, reaching

USD45 trillion in2010.Thee-book,entertainment

contentandmobilegamemarketsshoweddramatic

increases.Thegamesectorparticularlygrew,taking

about50%ofthemarketsharein2010.Demandfor

digital content is expected to increase further due

toeasyaccesstoe-readerdevicesfore-books,the

growingpopularityofKoreancontent(Hallyu)inthe

globalmarket, customized content andprevalence

of smartphones to play mobile games. Digital

content accounts for about 23% of global content

and is expected to increase to about 40-50% in

thenear futuredue to thehighpenetrationrateof

smartphonesandtabletPCs.

Global Digital Content Industry Korea’s Digital Content IndustryKorea's digital content industry has the world's leading high-speed Internet, wireless networks, various

computersoftwareprogramsandplatforms,servingasanengineforsustainablegrowth.Inparticular,the

emergenceofanewgenre,likeUCC,ubiquitousandU-city,willbringmoreconsumerswhoarefamiliarwith

thedigitalcontentindustry,whichwillleadtosustainedgrowth.

36,95244,484

51,73061,071

70,09979,506

30,32022,742

15,5109,922

81,715

Global Digital Content Market Share (Unit:millionUSD) (Unit:USDmillion)(Unit:USDmillion)

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Game IndustryThegamingindustrycanbedividedintoonlinegaming,PCgames,mobilegames,videogamesandarcade

games.Before2000,Korea’sgame industrymarketwasconfined to foreign-packagedgames.Butonline

games have since gained popularity and grown dramatically. Also,withworld-class telecommunications

infrastructure, themobilegaming industry started to takeoff in recent years, leading thedigital content

industry’sgrowthinKorea.

In2010,thesizeofKorea'sgamemarketwasestimatedatUSD6.7billion,whichis12.9%morethanUSD

5.9billionin2009,markingthegameindustry’scontinuedsolidgrowth.In2008,themarketgrewby9.0%

andfurtherrecoveredin2009with17.4%growth,againexceedingUSD5billioninsales.Inotherwords,the

gamingindustrymadeacomeback.In2010,theindustryalsogainedanotherbilliondollarstoreachUSD6

billioninsales,showingsteepgrowthandlookingforwardtocontinuedgrowth.

Source:WhitePaperonGames

Korean Game Market Outlook (2003~2010)

Market Overview by Business Type

시장 규모 성장률

3,5553,895

7,834

6,723

4,642

5,9395,058

6,707

15.8% 9.6% 9.0%17.4% 12.9%

101.1%

-14.2%-30.9%

3,5553,895

7,834

6,723

4,642

5,9395,058

6,707

15.8% 9.6% 9.0%17.4% 12.9%

101.1%

-14.2%-30.9%

(unit:millionUSD)

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Analyzingthe2010gamingmarketbysector,online

game revenuewas atUSD 4.3 billion,with 64.2%

of the market share, which reflects a trend of

growth.Excluding Internetcafésandarcades, the

onlinegamesplatformtakes85.2%ofthemarket,

whichmeansonlinegamesareleadingthemarket.

Korean online games will maintain their stable

domesticmarket sharewith sound infrastructure

andaggressivelymoveintooverseasmarkets.

Internet café revenuewasatUSD1.6 billion,with

23.7% of the game market share. Although in

second place, revenue dropped by 9.0% from the

previousyear.Internetcafésarelosingtheirgrowth

momentumandthemarketisinadecliningstage.

VideogamerevenuewasatUSD385million,with

5.7%ofthegamemarketshare.Andmobilegames

tookUSD286million in revenue,with4.3%of the

marketshare.Mobilegamesgrew21.4%fromthe

previousyear,whichcanbeexplainedbythespread

ofsmartphones.ArcadegamerevenuewasatUSD

55million,with1.0%of themarketshare.Arcade

game room revenue was at USD 69 million, with

1.0%ofthemarketshare.Arcadegamesandarcade

gameroomshaveshowndrasticdeclinessincethe

“SeaStory”controversy.Despitesignsofrecovery,

theystilldonotoccupyasignificantproportionofthe

gamemarket.AsforPCgames,lastyear’srevenue

was at USD 10 million, with 0.2% of the market

share,showingaconsistentdropfromtheprevious

year.ThereisahighpossibilitythePCgamemarket

willchangeitsplatformandbeabsorbedbyonline

games.

Percentage of Local Game Market by Sector (2010)

아케이드게임장

1.0%

아케드게임

1.0%

온라인게임

64.1%

PC방

23.7%

모바일게임

4.3%

비디오게임

5.7%

PC게임

0.2%

1.0%

1.0%

64.1%

23.7%

4.3%

5.7%

0.2%


Basedon2010salesfigures,theKoreangamemarket

took 5.8% of the globalmarket. Compared to last

year’smarketshareof3.1%,thisisawhopping2.7%

increase.ThegrowthrateofKorea’sgamemarket

wasfasterthanthatoftheworldgamemarket.

The reason for the dramatic increase in global

market share gainwas the revision of video game

statistics. Considering future global and Korean

markettrends,forecastsshowthatKoreawilltake

6.8%oftheglobalsharefor2011,8.3%in2012and

9.7%in2013.Koreawilltakeupagreaterpartofthe

globalgamemarket.

Intheonlinegamesector,Koreatook25.9%of the

market share, which is the second largest after

China (30.4%), proving to be a power market for

online games. Korea’s share increased by 2.9%,

whileChina’ssharedroppedby0.9%.ThoughChina

placed first in 2008 due to explosive online game

growth,Koreaisbackontrack.

2010 Global and Korean Game Market (Sales) (Unit:millionUSD)


Online game Video game Mobile game PC game Arcade game Total

Global game market 15,913 33,788 8,569 3,068 23,481 84,818

Korea game market 4,123 369 274 10 128 4,905

M/S 25.9% 1.1% 3.2% 0.3% 0.5% 5.8%

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Electronic Book IndustryPublic and corporate libraries with 24-hour

demand are taking e-book services as an essential

part of their service.With the recent proliferation

ofAmazon’sKindle,Apple’siPadandothere-book

related devices, and with the diversification of

e-book content, Korea’s e-book market is poised

forgrowthandhashighexpectations. In addition,

conglomeratesarejumpingtothee-bookindustry,

showingmarketgrowthexpectations.Devicemakers

suchasSamsung,LGandiRiverandcontentproviders

likeKyobo,InterparkandYes24arejoiningforcesto

bring integratede-bookdevices,whichmeans the

competition is fierce. Also, the launch of the iPad

hasbroughtanexpansionofthemobilesmartphone

market. E-book content is expanding to Apple’s

iPhoneandAndroid-basedsmartphones.

Meanwhile, the Ministry of Culture and Tourism

designated the e-publishing business as a newgrowth engine in the 2010ElectronicPublishing Industry

DevelopmentPlan,whichannouncedaUSD54millioninvestmentintheindustryuntil2014toexpandthe

marketsizetoUSD632million.Korea’se-bookmarket,spurredbytheprivatesector,willgainmomentum

withgovernmentsupport.FocusedontheB2Bmarket,Korea’se-bookindustryformedaUSD119million

marketin2009.

Korea E-book Market Size (unit:millionUSD)

0

200

400

600

800

Korea’sgamemarketisexpectedtoshow13.8%growthin2011,reachingUSD7.63billion.Onlinegamesgrew

20%fromayearearlier,andwiththeexceptionofPCgamesandInternetcafés,allothergamingsectorsare

expectedtogrow.Thespecificoutlookisasfollows:anincreaseof25%forvideogames(USD481million),

20% formobilegames (USD343million) and6% for arcadegames (USD68million). Thisgrowth rate is

expectedtocontinuethrough2012and2013.Theforecastfor2012is17.7%year-on-yeargrowth,reaching

USD8,982million.For2013,15.2%year-on-yeargrowthisexpected,reachingUSD1billion.Onlinegames,

whichaccountforthehighestpercentageinthegamingmarket,willreachUSD6.5billionin2012andUSD7.7

billionin2013,showingrapidgrowthastheyeargoeson.

2010 Korea Game Market Segmentation (Unit:millionUSD)

* Since2009,mobilegamesaleshavebeenfromnetinformationcharges,excludingdatacharges.** Since2009,arcadegameroomshaveincludedbothvideogameroomsandarcadegamerooms.


2009 2010 2011(E) 2012(E) 2013(E)

Sales Sales Growth rate Sales Growth

rate Sales Growth rate Sales Growth

rate

Online game 3,347 4,303 28.5% 5,163 20.0% 6,454 25.0% 7,745 20.0%

Video game 474 385 -18.8% 481 25.0% 578 20.0% 636 10.0%

Mobile game✽ 235 286 21.4% 343 20.0% 418 22.0% 523 25.0%

PC game 14 11 -20.0% 10 -6.7% 10 -5.4% 9 -1.9%

Arcade game 56 65 15.6% 68 6.0% 74 7.5% 79 7.0%

Internet café 1,746 1,589 -9.0% 1,493 -6.0% 1,374 -8.0% 1,278 -7.0%

Arcade game room✽✽

67 69 3.3% 71 3.0% 75 5.5% 80 6.0%

Total 5,939 6,708 12.9% 7,629 13.8% 8,983 17.7% 10,350 15.2%

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Market Size and Growth Rate of e-learning Industry

Market Trend of e-Learning Service Industry

Korea’s e-learning industry, characterized by high

growth-high margin, is growing and becoming

entrepreneurial, consolidating on-offline business

unitsandexpandingtotheoverseasmarket.In2010,

e-learningwasnotjustanindustry,butnationaltraining

infrastructure to develop national human resources.

Thegovernment ismakingsignificant investmentsto

stimulate the e-learning market. Cyber University,

which moved the physical university online, is an

e-learninginstitutebestpracticeandhelpingimprove

people's intelligence. Also, fears of a recession and

the desire to prepare for an uncertain future are

increasing demand for self-development. E-learning

isconsideredanidealsolutiontomeettheseneeds.

TheeducationmarketwasdrivenbyKorea’s college

admissions exams – the equivalent of the United

States’ SATs – and business-related needs, but

recently,peoplehavebeenlearningaboutmusic,art

andday-to-dayissuesonline.Elementary,secondary

andadulteducationscanbeacquiredonlineaswell,

whichenablesthee-learningmarketandincreases

market size.Korea’s e-learningmarket in 2007was

USD1.56billion,andin2010itdramaticallyincreased

toUSD2.02billion.BecauseKoreahasahighInternet

penetration rate and high education expenditures,

stabledemandforeducationcontentisexpected,which

wouldleadtoconsistentgrowth.From2006until2010,

themarketgrewatanaverageannualrateof8.6%.

(Unit:millionUSD)

시장 규모 성장률

1,460 1,559 1,6881,887 2,027

1,460 1,559 1,6881,887 2,027

10.0%6.8%

8.3%

11.8%

7.4%

10.0%6.8%

8.3%

11.8%

7.4%

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Digital Broadcasting IndustryThedigital broadcasting industry is divided into the

digital videoproductionbusiness,digital characters

business and animation business. Korea’s digital

broadcastingmarketoncereachedUSD365million

butremainedstagnantduetoDVDpiracyandother

unfavorable issues.However,theaggressivespread

of terrestrial digital broadcasting, HDTV receivers,

IPTV and the digital cable business caused explosive

growth in 2007, at 27.6%. In 2008, thegrowth rate

wasat8.4%,showingconsistentrecovery.

The digitalization of terrestrial and satellite

broadcasting in Korea began in the early 2000s.

Digital satellite broadcasting officially began with

Skylife broadcasting in 2002 anddigital terrestrial

broadcastingpolicywillbeimplemented,asanalog

broadcastingwillbephasedoutin2012.TheKorea

Communications Commission enacted the “Digital

TransitionSpecialAct” inJuneof2008 to facilitate

the transition todigitalbroadcasting. In2010-2011,

digitalTVdemandwasestimatedatUSD8.8billion.

More than USD 4.5 billion worth of digital TV is

expectedtobesoldin2012.

Digital MusicThe digital music market is divided into the bell

sound/callringtonesbusinessandBGM(background

music) and full-track (for listening) via broadband

streaminganddownloadservice.

Korea’s digital music industry market has shown

rapid growth since 2006,when it was asUSD 321

million.ItreachedUSD514millionin2010.

In the past, the driving force of the digital music

business was the bell/ringtone business. But a

recentsourceofrevenuehasbeentheBGMusedin

personalblogsandonlinemusicdownloads.

The digital music market is expected to show an

annualaveragegrowthrateof16.9% from2006 to

2011andreachamarketsizeofUSD700million.

e-learning Market Size (Unit:millionUSD)

0

100

200

300

400

500

600

700

800

디지털 아날로그 보급률

19.8%

77.7%

0

100

200

300

19.8%

77.7%

0

100

200

300

Korea TV Sales and Digital TV Penetration Rate (Unit:10thousand)

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Digital Content Industry Support Policy and OutlookThegovernmentispushingtodevelopthedigitalcontentindustryasoneofitscore

businesses.In2002,theOnlineDigital IndustryDevelopmentActwaslegislated. In

conjunctionwiththeOnlineContentIndustryDevelopmentCommittee,thegovernment

confirmedtheDigitalContestIndustryDevelopmentBasicPlanandselecteddigital

content as one of the 10 Next-Generation Growth Engines. It built digital content

production collaboration centers in the metropolitan areas to share equipment

and to improve the production environment for companies. It also subsidized the

Multimedia TechnologySupportCenter in Jeju andGwangju,where digital content

industryinfrastructureisweak.Thegovernmentisalsoworkingondigitalcontent-

related information creation and analysis, research on methods to improve the

businessenvironment inachangingmarketandotherpolicysupport thatcanhelp

theindustry.

Online Digital Content Industry Development Basic Plan

Project Content

Market stimulation

•Createfavorabledigitalcontentproductionenvironment• Vitalizedistributionchannel,openWifinetwork,increaseuserawarenessinordertostrengthenprofitcreationplatform

•IPandcustomerprotection

Start-up and growth support•Createdigitalcontentcluster•Procureinvestmentbudget•Createorganizedindustryinformationsystem

Technology development and standardization

•Developdigitalcontentcoretechnology•Increasetechnologycapacityatuniversitiesandcompanies•Strengtheninternationalcollaboration

Human resource development•Developplatformforhigh-qualityhumanresources•Establishhumanresourcesupplychain•Expandhumanresourcessupplybase

Facilitate overseas investment•Export-orienteddigitalcontentdiscoveryanddevelopment•Supportnewmarketexpansion•Createinternationalexchangehub

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Digital Content Industry Labor CostSWOT Analysis

Salary Range (Unit:USD)

(Unit:USD)

(AnnualsalaryUnit:USD)

25,587

IndustryAverage

Juniorcolleges

Universities Master’sdegreecourses

PhDcourses

Company 1 Company 2 Company 3

14,684 40,036

1,0000

2,0000

3,0000

4,0000

21,552

20,68620,686

31,706

38,917

21,209

28,881

0

25,587

IndustryAverage

Juniorcolleges


PhDcourses


14,684 40,036

1,0000

2,0000

3,0000

4,0000

21,552

20,68620,686

31,706

38,917

21,209

28,881

0

25,587

IndustryAverage

Juniorcolleges


PhDcourses


14,684 40,036

1,0000

2,0000

3,0000

4,0000

21,552

20,68620,686

31,706

38,917

21,209

28,881

0

Industry Annual Starting Salary for

University Graduates

Education Degree

Top 10 Companies with Highest Starting

Salaries for University Graduates

1.SKTelecom 31,588

2.SKTelink 31,588

3.Autoeversystem 30,686

4.KTFreetel 29,783

5.Powercom 29,783

6.SAPKorea 28,881

7.HyundaiU&I 28,881

8.KT 28,881

• Cut throat competition, loss from overlap

development

•Lack of awareness in fee payment

•Dependence on large companies

•High distribution cost

•Small companies in the distribution structure

•Investment risk in developing new media

WEAKNESSES

THREATS

STRENGTHS

OPPORTUNITIES

• Outstanding wired / wireless information

technology infrastructure

▶HighInternet/mobilephonepenetration

•Diverse digital content

▶Broadcastingandmusiccontent

•Government support for digital content

•Tax benefit for high technology investment

• New market expansion from

inter-industry integration

• Develop diverse communication

technology and media

•Improve encryption and certification technology

• Industry driven improvement and

settlement policy

•Low market entry barrier

SO

WT

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Spatial Distribution of the Digital Content Industry in Seoul

Current Distribution by RegionMorethanhalfofthedigitalcontentcompaniesinSeoularelocatedinYeongdeungpo-guandGangnam-gu.

Currently,theSeoulMetropolitanGovernmentisconstructingtheDigitalMediaCityinSangam-dong,

Mapo-gu,withaviewtodevelopitintoanewcenterofthedigitalcontentindustry.

9%

7%

10%

10%

25%

Industrial SitesITㆍDIGITAL CONTENTS INDUSTRY IN SEOUL / SEOUL METROPOLITAN GOVERNMENT

Regional Distribution of Digital Content

Clusters in Seoul

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Key Facilities in the DMC350advancedM&EandITbusinessesarelocatedandmorethan25,000peopleworkintheDMC.By2015,

morethan600businesseswillhavebeenoperatingtherewithatleast60,000employees.Businessesmay

moveintotheDMCproject(aspresentedonpage34).Thebusinessesbelowhavealreadyoccupiedspaces

atthesite:

Key Facilities

DMC OverviewTheDMCisanadvanceddigitalmediaandentertainment(M&E)clustertheSeoulMetropolitanGovernment

planstobuildby2015ona569,925m2siteintheSangamarea,thegatewaytonorthwestSeoul.

Description

Location LandDevelopmentArea,SangamNewMilleniumNewCity,Mapo-gu,Seoul

Land area 569,925m2(BusinessArea:335,134m2/PublicArea:234,791m2)

Construction period 2002~2015

Client TheSeoulMetropolitanGovernment

Target industry

Mediaindustryincludingbroadcasting,movies/animation,games,music,digitaleducationandanybusinessesinvolvedinR&Dforentertainment-relatedtechnologiesortheproductionanddistributionofdigitalcontents

Businessesdistributingorconsumingdigitalcontent

SoftwareorotherIT-relatedservicebusinesses

IT,BTorNTR&Dormanufacturing

Promising Investments in the Digital Content Industry in Seoul







DMC R&D Center

Usage Officeforsmall-andmedium-sizedventurefirms,laboratory,industryacademiacooperationlaboratory,etc.

Completion August2006

Land Area 3,367m2

GFA 29,760m2(B4-15F)

Contact 82-2-380-3126~7(http://dmcseoul.kr)

Tenant Businesses IT,SWcompaniesandindustry-academiccooperationfoundation

DMC Gallery

Usage Publicfacility

Completion October2002

Land Area 1,898m2

GFA 1,716m2(1~3F)

Contact 82-2-309-6994(http://dmcseoul.kr)

Tenant Businesses SMG,SBA

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Usage Exclusiverentalhousingforforeigners

Completion September2006

Land Area 9,313m2

GFA 30,535m2(B2-13F,total175units)

Contact 82-2-380-4800(www.dmcville.co.kr)

Usage Advancedservicefacilities

Completion March2008

Land Area 17,070m2

GFA 77,191m2(B2-8F)

Contact 82-2-3153-7121~4(http://dmcseoul.kr)

Foreigner-invested Businesses

WorldCourierKorea,AccessSeoul,VTCOnline,andJabezInternational

Usage Datacenter,researchcenter,etc.

Completion January2007

Land Area 4,733m2

GFA 43,809m2(B3~12F)

Contact 82-2-6710-4000(www.lgcns.com)

Tenant Businesses LGCNS

Usage R&DBusinessCenter,

Completion commercialofficespace

Land Area January2007

GFA 2,078m2

Contact 19,816m2(B5-12F)

Foreign-Invested 82-2-6096-2510(www.trumpf.co.kr)

Businesses KoreaTrumpGmbH,EBMPapstKorea

Usage Business,culture,conventionandneighborhoodcommercialservicefacilities


Land Area 6,611m2

GFA 43,665m2(B4-14F)

Contact 82-2-300-7101(www.kocca.or.kr)

Tenant Businesses KoreaCreativeContentsAgency,KoreaFilmArchive

Usage Academicresearch,broadcastingprogramproduction


Land Area 3,305m2

GFA 16,341m2(B2-12F)

Contact 82-2-300-7110(www.kocca.or.kr)

Tenant Businesses KoreaCreativeContentsAgency

DMC Ville

DMC High-Tech Industry Center

LG CNS Sangam IT Center

TRUTEC Building

Culture Content Center

Digital Magic Space

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Usage Education,research,welfare(researchcenter),businessandneighborhoodservicefacilities

Completion August2007

Land Area I:7,886m2,II:3,837m2,III:5,653m2

GFA I:85,603m2(4BF~24F),II:40,495m2(3BF~32F),III:58,968m2(3BF~32F)

Contact 82-2-6393-3021(www.kgit.ac.kr)

Foreign-Invested Businesses

OSolar,KoreaWacom

Usage PantechR&DCenterandoffices

Completion April2007

Land Area 6,475m2

GFA 66,648m2(B5-22F)

Contact 82-2-2030-0114(www.pantech.com)

Tenant Businesses Pantech

Usage Officespaceforbusinesses

Completion June2007

Land Area 2,078m2

GFA 19,973m2(B5-12F)

Contact 82-2-6388-6000(www.gokea.org)

Tenant Businesses KoreaElectronicsAssociation

Usage Businessfacilities,educationandresearchfacilities,etc.

Completion November2007

Land Area 4,514m2

GFA 44,838m2(B5-21F)

Contact 82-2-781-8495(www.kbsmedia.co.kr)

Tenant Businesses

KBSMedia

Usage Businessfacilities,neighborhoodcommercialservicefacilities,etc.

Completion October2007

Land Area 4,930m2

GFA 46,152m2(B5-12F)

Contact 82-2-307-7881

Tenant Businesses

SangamITConsortium

Usage Business,R&Dtower,DigitalPavilionandjointproductioncenter

Completion November2007

Land Area 19,138m2

GFA 152,569m2(B4-22F)

Contact 82-2-2132-1000(www.nipa.kr)

Foreign-Invested Businesses

KoreaTerrawareHouse,Gravity

Usage Homeoffice

Completion July2008

Land Area 4,986m2

GFA 58,744m2(B6-14F)

Contact 82-2-6920-1114(www.uplus.co.kr)

Tenant Businesses

LGU+

Pantech R&D Center

Digital Innovation Center

KGIT Center(I), DMC IAN Sangam(II), (III)

Sangam IT Tower KBS Media Center

LG U+ HeadquartersNuritkum Square

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Usage Multimediaresearchfacilities

Land area 1,973m2

GFA 19,957m2(B5-13F)

Contact 82-2-2102-5100(www.woorifg.com)

Woori Bank Digital Business Center

CJ E&M Center Japanese School in Seoul

Woori Technology Multimedia R&D Center Stanford Hotel DMC Digital Cube

Multi-Contents Center Dwight School Seoul

Usage Multimediaresearchfacilities

Land area 1,973m2

GFA 19,957m2(B5-13F)

Contact 82-2-2102-5100(www.wooritg.com)

Usage Office,studioandbroadcastingfacilities

Land area 5,588m2

GFA 68,939m2(B6-19F)

Contact 82-2-726-8114(www.cj.net)

Usage School

Land area 13,532m2

GFA 15,686m2(B1-5F)

Contact 82-2-574-0348(www.sjshp.or.kr)

Usage Businessfacilities

Land area 3,923m2

GFA 49,409m2(B6-21F)

Contact 82-31-738-6000(www.onsetel.co.kr)

Usage Businesshotel

Land area 3,426m2

GFA 24,033m2(B5-12F)

Contact 82-2-571-5861

Usage School

Land area 9,975m2

GFA 18,659m2(B1-5F)

Contact 82-2-305-7575(www.dwight.or.kr)

Usage Businessfacilities

Land area 5,639m2

GFA 68,629m2(B6-23F)

Contact 82-2-322-4023(www.chosun.com)

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To be completed 2012-2015

List of Tenant Businesses

DMC TenantsThefollowingbusinesseshaveoccupiedDMCtodate:Usage Completion Scale Contact

Korea Federation of Small Business

Generalcommercialfacilities 2012

Landarea:5,764m2

GFA:62,321m2

(B6-20F)

82-2-2124-3114www.kbiz.or.kr

SBS Media Square

Office,broadcasting,communicationandneighborhoodservice

facilities

2012Landarea:4,553m2

GFA:58,926m2

(B6-17F)

82-2-2061-0006www.sbs.co.kr

Seoul International Digital Press Center

DigitalPressCenter,officebuilding 2013

Landarea:2,923m2

GFA:34,651m2

(B5-20F)

82-2-2000-9552www.seoul.co.kr

IT Complex Seoul IT Center,

Seoul

DigitalContentsCenter,SeoulMediaCenter 2013

Landarea:6,621m2

GFA:81,207m2

(B7-21F)

82-2-6361-3114(Directorof

InformationSystemPlanningBureau,

SeoulCity)

Hankook Ilbo Consortium

Advancedbusinessoffice,convention,culture,broadcastingand

neighborhoodservicefacilities

2013Landarea:6,340m2

GFA:72,727m2

(B6-16F)82-2-724-2010

Global Media

Contents CenterOffice 2013

Landarea:1,973m2

GFA:21,937m2

(B6-12F)

82-2-6900-9606www.thepan.co.kr

Donga Digital Media Center

Office 2013Landarea:7,703m2

GFA:99,242m2

(B6-19F)

82-2-2020-0114www.donga.com

Digital Game StadiumOffice,gamepromotionanddemonstration 2013

Landarea:2,055m2

GFA:21,004m2

(B6-12F)

82-2-2017-7800www.drgonflygame.co.kr

Global Media Center Officeandannexfacilities 2013Landarea:34,204m2

GFA:151,923m2

(B3-14F)

82-2-789-2451www.imbc.com

YTN Media CenterBroadcastingand

advancedservicefacilities 2013Landarea:4,973m2

GFA:59,233m2

(B5-20F)

82-2-398-8000www.ytn.co.kr

Seoul LiteAdvancedcombinedbusinessbuilding 2015

Landarea:7,280m2

GFA:724,675m2

(B8-133F)82-2-6940-5500

Businesses

GamesContentsBusinessResearchCenter,KoreaGameDevelopers’Association,TongyangOnline,Gravity,Nflute,Puttoentertainment

BroadcastingKudoCommunication,TraditionalKoreanMusicBroadcast,CJE&M,CJCGV,MBC,C&IandKBSMedia

Imaging Daneck,CSMusic&,Sound&Company

Film KoreaFilmCommission,Cheongeoram,CJCGV

Internet Korea.comCommunications

Communica-tions

Pantech,LGU+

IT Woorifis,HansolPNS,Hansolinticube,KoreaElectronicsTechnologyInstitute,

BT I-gene,EnvironmentBio,AdvancedBioTechnology,Benebiosis

HW SRC

SWHyundaiCard,DaesungHoldings,ITBusinessUnit,Naupil,CoreGate,NectarSoft,DamonEasyCerti,HunIT,E-SumTech,AccessSeoul,DSIvy,I-YunoGlobal,C-SquareSoft,Podivision,MogensLab,BitRust,InMedia

Finance DaesungPE

Education and Research

Humancontents,Mediact,TheFederationofKoreanInformationIndustries,HansolEducation

M&E and OtherKoreaCreativeContentsAgency,KoreaFederationofCopyrightOrganizations,MinistryofCultureandTourismIntellectualPropertyDivision,KoreaBroadcastPublishing,MuhaDigital

OtherKoreaTrumpGmbH,EBMPapstKorea,MultivakKorea,RenewSystem,DaesungGlobalNetwork,TheFederationofKoreanInformationIndustries,NIPA

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Merits of the DMC

Experimenter of the 21st-Century City

Renovation

TheDMCwillemergeasanewculturalcontent

productionandinternationalbusinesscenterbased

onthehistoric,culturalandeconomicstrengths

ofSeoul,asitisbeingdevelopedasaworld-class,

knowledge-basedhubthroughclosecooperation

betweenindustryandacademia.Furthermore,

DMCresidentswillbeabletotesttheapplicability

ofdigitalmediatechnologiesinsuchdiverseareas

asdailylivingandcommunityactivities.

A World-Class Tourist Destination Where People,

Environment, Culture and Technology Prosper

Together

TheDMC,anenvironmentallyfriendlyresidential

park,islocatedclosetooneofthe2002FIFAWorld

CupTournamentstadiums,theenvironmentally

friendlyWorldCupPark,NanjiCampGroundnext

totheHanRiverandNanjiCreativeStudio,where

visitorscanappreciatediverseanduniqueart.

Digital Media Street (DMS)

DMS,theworld’sfirstubiquitousstreetandthe

centeroftheDMC,providesspaceforexperiments

withadvancedmediatechnologiesandcontent.

Thestreetwillserveasanexemplary

infrastructureforfuturecitymanagementasit

boastssymbolicartwork,IP-Intelight,advanced

intelligentstreetlamps,infoboothsandkiosks,

signsandspecialfacilities.

Easy Access to Northeast Asian Markets

TheDMCofferseasyaccesstoIncheonInternational

Airport(30minutesbyexpresswayorrail).Northeast

AsianmarketscanbeaccessedviaIncheon

InternationalAirportwithintwohours.

Huge Metropolitan Region Market

TheDMChasdirectaccesstothemassiveconsumer

marketintheSeoulmetropolitanregion,which

numberssome24millionpeople.

Competitive Land Prices

Landisprovidedatcompetitiveprices(basedonthe

costofsitedevelopmentandtheappraisalprice)to

mediaentertainmentbusinessesandinvestorswho

intendtoestablishadvancedITeducationcenters

andothercorefacilities,advancedbroadcasting

serviceandsoftwarebusinessfacilities,education

andresearchfacilitiesandexhibitionorconvention

facilities.

Whenauniversityorforeignresearchinstitute

involvedinindustry-academiacooperationprojects

usestheDMCIndustry-AcademyCooperation

ResearchCenter,therentalratewillbe10/1000of

thegovernment’spublishedlandprice.(SeoulCity

OrdinanceonPublicAssetsandArticles)

Development of the Most Advanced IT Infrastructure

ResidentsoftheDMCParkcanaccessmobilewireless

Internetservicesfreeofchargeanytime,anywhere

usingthebroadbandopticalcommunicationnetwork,

whichisinterconnectedwithmobileand/orsatellite

communicationnetworks.TheDMCisequippedwith

theworld’sbestbroadbandcommunicationnetworks

andinformationandcommunicationsinfrastructure.

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Incentives to Land Offering

Incentives to Foreign-Invested Businesses

Incentives

DMC Land Supply Procedure and Incentives

Land-Offering Category

Land Supply Procedures and Types

LandwithintheDMCisofferedtobusinessesselectedbyareviewandassessmentgroup.Thelatterreviews

their businessplans,which are received according to a public noticemade for application by landusers

(businesses).Landisofferedatdifferentiatedpricesdependingonthecategoryoffacilitiesinducedintothe

DMC.Thefacilitiesarecategorizedbybusinesscategory,purposeandowner.

Land price Category

Core function area

Developmentcost(publicentities) Magnetfacilitiesdevelopedbypublicentities

Appraisalprice(Quasi-publicandprivateentities)

Education,researchinstitutes–industry/academicresearchcenter,venturestart-upsupportcenter,ITeducationcenter

Recommendedfunction area

Developmentcost(publicentities) Advancedservicefacilitiesfoundedbyprivateentities

Appraisalprice(privateentities)

Venturebusinessclusterfacilities,officespaceofbusinessesinducedintotheDMC

Generalfunction area

Successfulbidprice

Landmarkbuildingandcommercialservice

Hotels,conventioncenters,urbanentertainmentcenters(UEC)andshoppingcenters

Installment payment of land price Amortized interest rate for payment by installments of land prices

Land prices in the range of USD 1.81 million(KRW 2 billion won) ~ USD 4.56 million (KRW 5 billion won): Fully payable within two years

Amortizedinterestrateforinstallmentpaymentsoflandprices:6%perannum(SeoulCityOrdinanceonPublicAssets

andArticles)

Land prices in the range of USD 4,566,210 (KRW 5 billion won) ~ USD 18.2 million (KRW 20 billion won): Fully payable within three years

Foreign-investedbusinesses:4%perannum

Land prices over USD18.2 million (KRW 20 billion won):Fully payable within five years

Apartmentfactory:4%perannum

Incentives

Extended incentives at time of

land purchase

•Consultationforofferingatpricesbasedondevelopmentcost.•Upto20yearsininstallmentpayments.•4%annualinterestforinstallmentpayments.•Designatedusageratelower(60%)thanthoseapplicabletodomesticbusinesses.

Tax abatement benefit

Eligibility:Foreign-investedbusinessesthatoperateadvancedtechnology-basedbusinessesorbusinesssupportservicesandforeign-investedzones.

Benefit:• Nationaltaxes(corporateandpersonalincometaxes):100%exemptedforfiveyearsfrombusinessstartdate,50%abatedforforeigninvestmentportionforthenexttwoyears.

• Localtaxes(acquisitionandregistrationtaxes):100%exemptedfor10yearsfrombusinessstartdate,50%abatedforforeigninvestmentportionforthenextfiveyears.

Long-term Lease of Sites and Buildings

Foreign-investedbusinessesmayleasesitesorbuildingsatlowratesforupto50years(Extensionsforanadditional

50yearsarepossibleasandwhenrequired).Whentheratioofacompany’sforeigninvestmentrepresents30%or

more,thebusinessinquestionmayenterintoanegotiatedcontractwiththeSeoulMetropolitanGovernment.

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Supply of Rented Housing TheSeoulMetropolitanGovernmentensuresthatforeignnationalsareableto

liveinaconvenientenvironment,asrentedhousingisprovidedexclusivelytothem.

Monthly Rent

Monthly rent

DMC Ville

63m2 1,537

107m2 2,557

147m2 3,536

(Unit:USD)

Status of office Rental as Provided by SMG

DMC Benefits for Foreign InvestmentLand Supply

Abonusscoreisgrantedtotheforeigninvestorinreviewingabusinessplan.

Provision of Offices for Rental

Foreign-investedbusinessesmayoccupyofficespacesinventure-relatedfacilitiesprovidedbytheSeoul

MetropolitanGovernmentwithpriorityandatthefollowingrentalrates:

Incentives Rental deposit(per m2)

Monthly rent(per m2)

DMC AdvancedBusiness Center

Venturebusinesses(innovativebusinesses,foreigninvestedbusinesses) 78 3

Generalbusinesses 96 5

DMCIndustry-Academy

CooperativeResearch Center

UniversitiesinSeoulandforeignresearchinstitutesconductingresearchprojectsjointlywithsuchuniversities

52 1

Venturebusinesses 64 4

ForeignanddomesticR&Dcenters 92 6

(Unit:USD)

Success Story : Actozsoft

Financial Status

ActozsoftCo.Ltd.wassetupinKoreain1996asasubsidiaryofSANDA,China,acompany

engagedinonlinegamedevelopmentandrelatedservices.ItsoperatingIncomehasbeen

increasingsteadilyovertheyears.

The Potential of the Korean Market(Kim Gang, CEO of Actozsoft)

Thegame industryworldwide is showing fastergrowthandbusinessdiversification thanmany

otherindustries.However,asinotherindustries,thegameindustryisalsopursuingexpansionata

certainstageofitsgrowth.Whensuchaphenomenonismaximized,eachbusinesstendstovalue

specializationasneverbefore.Ourcompanyisafirst-generationonlinegamedeveloper.Weare

nowwitnessingourarrivalatthestagementionedaboveandcanseethatKoreaisagreatplaceto

dobusinessinthisregard.Aboveall,weareexperiencingsignificantchangesinthegameplatform

fieldbecauseof therapidspreadofsmartphonessince2010.Suchanacceleratedexpansionof

newinfrastructurewillultimatelyleadtothedevelopmentofwiderangeofgamesandcontribute

toanincreaseindemandbothathomeandabroad.IanticipateadramaticboosttoKorea’sgame

industryonceLatinAmerica,AfricaandRussiaequipthemselveswithbetterInternetnetworken-

vironmentthanatpresent.

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Support Digital Content Industries

Policy Support

TheSeoulMetropolitanGovernmentiscommittedtofosteringthedigitalcontentindustry,Seoul’snewgrowth

engine,bycreatingafundforexclusiveinvestmentindigitalcontent.

TheculturefundincludestotalinvestmentofUSD87.9million,thedetailsofwhichareasfollows:

No. 1Initialcapital USD26.2million

Investmentareas Games(40%),animation(40%),charactersandothers(20%)

No. 2Initialcapital USD28.3million

Investmentareas Animation,characters

No. 3

Initialcapital USD33.4million

Investmentareas Start-upsindesigncontent,fashion/designandothernewgrowth-enginebusinesses

Culture Industry Fund

Support Digital Content IndustriesITㆍDIGITAL CONTENTS INDUSTRY IN SEOUL / SEOUL METROPOLITAN GOVERNMENT

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Support for the Production of Excellent Game ContentTheSeoulMetropolitanGovernmentencouragestheproductionofdiversetypesofgames,whilestrivingto

eliminatetheirmostnegativeeffects,suchasgameaddictionandviolence,amongchildrenbysupportingthe

productionoffunctionalandmobilegames,arelativelystagnantarea.

Thegovernmenthassupportedeachgamesectorasfollows:USD343thousandforfunctionalgames,USD

310thousandformobilegamesandUSD289thousandforsocialnetworkgames(SNG).

Support for the Development and Production of Cartoons

Support for the Development and Production of Animations

The Seoul Metropolitan Government intends to explore and support the production of excellent cartoon

projectstargetingtheglobalmarketbyidentifyingoutstandingcreativeworkersandenhancingtheircreativity

bystrengtheningsupportforbasiccreativeareas.

Thegovernmenthassupportednewlyemergingauthorsincreativecartooncategoriesasfollows:USD181

thousandforcreativecartoons,USD181thousandforpublishingplansassessedtobecompetitiveinoverseas

marketsandUSD181thousandfornewmediacartoons.

TheSeoulMetropolitanGovernmentstrivestohelpcreatesuccesscasesbyexploringandsupportingthe

productionofoutstandinganimationprojectsasfollows:

Summary of Support for the Development and Production of Animations

Ani Frontier•3broadcastingortheater-showingfeature-lengthanimations(USD343,000orsoperanimation)

Ani Free •4animationsatpre-productionstage(USD45,000-63,000peranimation)

Short Animations• 8creativeshortanimationsatplanningstage(USD18,050orsoperanimation)

Development of Film Producer's ZoneMostproducers,exceptforthosewhobelongtoasizableproductioncompany,donothaveanindependent

workspaceandareoftenobligedtoconducttheirfilmproductionactivitiesingenerallyinferiorconditions.

Assuch,theSeoulMetropolitanGovernmentsupportscompetitiveandcreativefilmproductionpersonnel

(directorsandproducers)byprovidingthemwithastablefilmcreationorproductionspace.

Summary of Development of Film Creation Spaces

LocationDMCHigh-TechIndustryCenter(2ndand8thfloors:Planninganddevelopmentspaceand5thfloor:productionspace),Sangam-dong,Mapo-gu

Purpose

• Developmentofastableproductionenvironmentfostercompetitiveproductionpersonnel developmentofoutstandingworks

• Providea“creationspace”forproducerstorevitalizeproductionandhelpthemcreateoutstandingworksbybuildinganinfrastructureconducivetocreativity

Support•Providecreativespace•Providepublicfacility(seminarroom,businesssupportroom,meetingroom,etc)• Supportcreativedevelopment(educationcourse,planningdevelopmentcosts,mentoring,etc.)

Operation of Chungmu-ro Film CenterThecenterhasbeenrelocatedtoawiderspacetoprovidesubstantialhelpforfilmmajorstudentsandfield

workersbyupgradingthefunctionsofafilmculturespace.

Summary of Chungmu-ro Film Center Operation

Location InsideChungmuroStation

Support•Photoshopandpremierlectureandeducationforfilmproduction•Equipmentsupportfortheproductionofindependentfilms•Buildingmedianetwork:governmentagencies,NGOs,schools,etc.

Facilities Support

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Creation and Operation of Game-Incubating CenterTheSeoulMetropolitanGovernmentaimstoextendthefunctionoftheSeoulAnimationCentertoprovidefacilities

for theoveralldigitalcontent industry,whileestablishing itsroleasacomprehensivesupport facility for the

animationindustry.

TheSeoulMetropolitanGovernmentprovidesabaseforthegrowthofsmall-andmedium-sizedgame

developersbysupportingtheminallaspectsthroughoperatingagame-incubatingcenter.

Operation of Seoul Animation Center

Book and Film Library

•Collectdataconcerningculturalcontentandprovidecustomerswithpersonalizedinformationservice

•Holdculturalevents:Meetingswithwell-knownandnewwriters,“caricature”events

Seoul Ani-Cinema•Host7filmfestivals•Holdanimationfestivalswithuniversitiesandbusinesses,including2009Indi-Ani-Fest•Promotethedistributionofanimationworksbyshowinglocalandforeignanimations

Staging of Exhibi-tions / Operation of

Exhibition Hall

• Planexhibitionsofdiverseformats,includinganexhibitionofcartoonsbyfemaleproducers

•Purchaseoriginalculturalcontentandholdaregularexhibitionthroughouttheyear

Improvement of Ani Center Environment

• ConductasafetydiagnosisofthecurrentAniCenteranddevelopacharactertopiarythemepark

•OrganizetheSCCexperiencehall,etc.(SeoulCulturalCenter,insideDMC)

Online Support•Buildadatabaseandoperateanexpertinformationserviceforoutstandingcreativeworkers

•ReformWebpagesforeasieraccessbythosewithdisabilities

Technology Support Room

•MaintenanceofHDequipmentandpurchaseofacousticequipmentandmusicsourcefiles

Professional Education on

Cultural Content

•Culturalcontentspecialistcourses,refreshercourses,seminarsandworkshops•Educationparticipants:Totalof711peoplefor8specialistcourses,and3seminars

Education for Expansion of

Cultural Content Service

•Culturalcontentexperienceclasses,kidstoonAni-tinSchool–capitalizationquestionable

•Visitexperientialeducationservices:Serviceforpeoplealienatedfromculture,partici-pationineventsatschoolsandothervenues

Location 7thFloor,DMCHigh-TechBusinessCenter,Sangam-dong,Mapo-gu

Support

• Providespaceforgamedevelopment(supportofrentaldepositandmonthlyrent,etc.)

• Operationofsupportprograms(gameserver,gameengine,developmentsoftware,incentives,overseasmarketing,etc.)

Summary of Operation of Seoul Animation CenterSummary of Game-Incubating Center

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Incentives for ITㆍDigital Content Industry

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Incentives for ITㆍDigital Content IndustryITㆍDIGITAL CONTENTS INDUSTRY IN SEOUL / SEOUL METROPOLITAN GOVERNMENT

Tax Abatement for Foreign-Invested CompaniesIncaseswherecompaniesoperateabusinessunderthe“businessthataccompanieshighlyadvancedtechnologies

orbusiness-service”categoryinKorea,theKoreangovernmentgrants,onthebasisofreviewsconductedbythe

ForeignInvestmentCommittee,corporateandincometaxincentivesregardlessoftheinvestedamountorregion.

ITㆍdigitalcontentbusinesseseligiblefortaxabatementundertheforeigninvestmentregulationsareasfollows:

Business Eligible for Tax Abatement

Industry Area Product

IT

Computer(64bitorhigher)manufactureanddesign

•Personalcomputers(pen-input,wirelesscommunicationPCs,e-bookdevices),PDA(32bitorhigher),HPC,WPC,IPC;high-performanceworkstationsforofficesandengineering;intelligentmultimediacomputers;high-speedparallelprocessingcomputers (1GIPSorhigher);opticalcomputers;neuroncomputers;medium&large-sizedserverparallelvectorprocessingcom-puters

Computermemorydevice,

input/outputdevice,peripheral

devicemanufacture

•Memorydevices:HDDunder3.5",HDDover8",2.5"MODD/ODD,opticalcard,opticaltapedrive,flashmemory,ICcard,x52orhigherCD-ROMdrive,CD-Idrive,tapedrive(QIC,8mm,4mm),CCD/ODauto-changer,CR-R,CD-RW,DVD-P,DVD-ROM,MD,DVD-RW,CD/DVDmachine(P/R/RW),coreparts

• Inputdevices:High-resolutionhigh-speedimagescanners,pen-inputdevices,tablet(digitizer),touch-screen,3Dmouse,sound/text/imagereaders

• Outputdevices:ColorLCDs,ultra-slimLCDs,3Ddisplays,colorprinters,600DPI+LBP,organicEL.• Analytical device: Data analyzing parts such as high-speed/high-resolution A/D,D/Aboards,GPIBinterfaceboards

• Wireless/wireddatacommunicationtechnologyandcoreparts(IEEE1394); infraredrays; im-ageradar;radio-waves;ASIC;200MIPs+CPUchipsets;outputdeviceengine/head(MinistryofCommerce,IndustryandEnergy)

Broadcasting/wireless

communicationdevice/partsmanufacture

• GPS;Gallileo;LBS;satellitesystems;terminaltestingdevices(parts);opticalcommunicationssystem(parts);digitalbroadcastingsystem(digital/wirelessCATVsystem,HDTVtransmissionsystem,satellitebroadcastingsystem);terminals(subscribers’receiver,etc.)andcoreparts;online broadcasting systems; DMB systems; high-speed communications systems; opticaltransmissiondevices(high-speed/massdatacommunicationsdevices,high-speed/intelligentswitchingdevices);terminals(FAX,videophone,etc.)andcoreparts;satellitemultimediasys-tems(satellitecommunications/broadcastingconvergencesystems);terminalsandcoreparts;otherdigitalcommunicationsdevices(digitalkey/phonesystems,PDAs,PCs)andcoreparts;network access devices (VDSL, cablemodems, PLCs, routers); digital data communicationsdevice interface technology;ultra-high frequencysystems;mobilecommunicationssystems;broadbandsmartantennatechnologies

Informationprocessing/

computeroperationtechnology

• System Integration (SI); systemmanagement/operation (outsourcing included) and technicalconsultation;LAN/MAN/WAN/digitalcommunicationsnetworktechnology;developmentofda-tabasemanagementsystemengine;developmentofITsolutions/packages;datacommunica-tionsproducttesting/authorizationtechnology

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IT

Softwaredevelopment/manufacturingtechnology

•Systemsoftware:Distributedprocessingtechnology;communicationprocessing/management;administrationtechnology;mass-processingalgorithms;securitymanagementprograms;OS(kernel,devicedriver);OS/deviceconnection;internet/intranettechnology

• Applicationsoftware:Customizedsoftware;presentationsoftware;packagetechnology;multi-mediasoftwareforgame/image/audio,etc.;scientificcalculationtechnology;humanconversa-tionprocessingtechnology;codetranslationtechnology;self-examination/recoverytechnology;humaninterfacetechnology(voice/text/imagerecognition,decipheringsoftware,developmenttoolprogram)

Computer-basedautomatic

managementsystemtechnology

•Intelligentbuildingcommunicationsservices;OAsystemoperation/managementservices;POS;distributionautomation/securitysystems;expertsystems;organicdetectiontechnologies(ob-jectrecognition,facerecognition,fingerprintrecognition)

E-commercetechnology

• E-commercesoftwaretechnology:Electroniccataloguetechnology;electronicshopinstallationsoftware;electronicpaymentsystemtechnology;digitalsignaturetechnology;businesscom-ponenttechnology;electroniccurrencytechnology;digitalcopyrightmanagementtechnology;wirelessinternetauthoringtechnology;othersoftwaretechnologyusedine-commercesystemsnotdevelopedorcommercializedinKorea

• E-commerce application software technology: Product information search technology; XML-basede-commercetechnology;customermanagementtechnology;supplychangemanagementtechnology; digital content distribution technology; XML/EDI interlink technology; ContractorIntegrationTechnologyInformationService;electronicprocurementtechnology;e-marketplacetechnology;othertechnologiesnotdevelopedorcommercializedinKorea

Game

Mobile

•Mobile2D,3Dgameengines(firmwareformobiledevices-mathlibrary,basicgraphic&soundlibrary,optimizationalgorithmforvarioushardwareproducts)

•Developmenttoolsformobiledevices(mapeditors,character&movementeditors,etc.)• Onlinetechnologyformobiledevices(connectivitywiththeexistingnetwork,mobileonlinetechnologybasedonwiredandwirelessnetwork,sub-networktechnology)

PC&Online

•PC&online3Dgameengines(3Dgraphic,soundandanimationprocessingtechnologies)• Distributedservertechnology(largegamespacecontrol,distributedprocessing,multiplesyncaccesscontrolandautobackupanddurabilitymaintenancetechnologies)

• Online3Dspace-basedmappingtechnologies(gameprogressscript,gamespaceeditingandauthoringtechnologies)

• Physics-basedgamespaceexpressionandinteractiontechnologies(physicallawalgorithm,intelligentobjectprocessingtechnologies)

• Specialeffectgenerationandauthoringtechnologies(particleandotherspecialeffectrepre-sentationandeditingtechnologies)

Console

•3Dgameenginesforconsoleplatforms(3Dgameenginesforplatformsreleasedbymajorvendors,andSDK,APIdevelopmentusingsuchgameengines)

• Developmentofconsoleonlineserverenginesdedicatedprotocolandnetworktechnologies,high-performance,extensiblegameserver,heterogeneousgameserverintegrationandgamedataintegrationtechnologies)

• Technologiesforautomaticdataconversionforconsolegames(developmentofstandardfor-matsforsecuringthecompatibilityofgamedata,dataconversiontechnologiesforcommercialauthoringtoolsandplug-indevelopment,etc.)

Arcade

•Technologiesfortheproductionofmulti-purposemotherboardsandenginesfor3Darcadegames(technologiesfortheproductionofmotherboardsforPC-basedmulti-purpose3Dgames,3Dgraphic,soundandinter-appliancenetworkprocessingtechnologies)

• VRinterfacetechnologiesforarcadegames(technologiesfortheproductionofsensualinter-facedevices)

• Technologiesfortheproductionofarcadegameengines(contentsloading,interfacecontrolandinter-appliancecommunicationtechnologies)


Film/MediaSector

ComputerGraphicsAnimation

• Modelingtechnologies(polygon-,image-andmeasurement-basedmodeling,mobile3Dscanningandcompressed-geometryrepresentationtechnologies)

• Animationtechnologies(motioncapture/transformationandNLA-NonLinearAnimationtechnologies)

• Renderingtechnologies(2Dimage-basedrendering,colorscience,objectsurfaceattributerepresentationandnon-photorealisticrenderingtechnologies)

• Digitalactorprocessingtechnologies(digitalactormotion,feelinganddigitalinteractionprocess,anddigitalextratechnologies)

Post-Production•Videoediting(non-linearediting,2Dimagetransformationtechnologies)• CGandphotocomposition(virtualstudio,opticalsynthesis,cameradataextraction,illuminationconditionsandcolormatchingtechnologies)

Production • Soundoracousticproduction(specialsoundeffect,video/soundsynchronizationtechnologiesand3Dsoundgenerationtechnologies)

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VRContent

Immersive/ExperienceVR

• TechnologiesfortheproductionofimmersiveVRcontent(mixedreality,augmentedrealityandcubicacousticsproductiontechnologies)

• ImmersiveVRdisplaytechnology(3Ddisplay,high-qualityandreal-timeimageprocessingtechnologies)

• ExperienceVRcontentproductiontechnologies(bio-signalprocessing,wearablecomputingandsensualinterfacetechnologies)

Web3D

• Web3Dbrowsingtechnologies(2D/3Dvirtualobjectrepresentation,Web3Denvironmentnavigation,objectinteractionprocessingandlarge-volumewebcontentloadingtechnologies)

• Web3Dcontentauthoringtechnologies(virtualenvironment/modelingdatageneration,virtualobjectinteractionprocessingauthoring,web3Dcontentgenerationtechnologies)

• Web3Dcontentservicetechnologies(Flash/ASP/PHPcombinationandintegratedservicetechnologies)

CulturalContent

CulturalContentPlanningandDesignTechnologies

• Culturalcontentinformationdesigntechnologies{visualimage,music/sound,sensual,andaromadesigntechnologies(virtualorcyberspacedesign,digitalsoundandobjectdesign,anddesignintegrationtechnologies),emotionaldesigninterface(emotionin/outputandsensualmeasurement/quantificationtechnologies,designtrendanalysis/projecttechnologies,designvalueappraisaltechnologies)}

• Developmentofculturalcontentauthoringtools(authoring,automationandcollaborativeauthoringtechnologies)

• Culturalcontentstandardizationtechnologies

CulturalContentProductionTechnologies(publishing)

• Technologiesforaugmentingtherichnessofculturalcontent{acoustictechnologies(3Dsound,multi-channelandsoundgeneration/editingtechnologies),graphicstechnologies(2Dimage-basedmodeling/renderingand3Dvideocomposition/editingtechnologies),VRtechnologies(2Dand3Dobjectgeneration,sensualsignalsandinteractiontechnologies)

• Developmentofculturalcontentproductionandapplicationtechnologies{developmentofanimation,character,cartoon,music,game,mobileInternetcontent,broadcastingvideo,VR,3Dgraphic,performanceandotherproductionandapplicationtechnologies}

Design-RelatedTechnologies

• DesigntechnologiesusingCAD/CAM•DesigntechnologiesusingVR•2DtechnologiesusingPhotoshoporIllustrator•Designtechnologiesusing3Drendering

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Details

Corporate tax

Amounteligiblefortaxabatement

Corporateorincometaxpayableonincomegeneratedbybusinesseligiblefortaxabatement(totalcomputedtaxamountxtaxbaseofeligiblebusiness/totaltaxbase)multipliedbyforeigninvestmentratio

Abatedperiod/ratio

100%abatedforfiveyearsfromtheyearwhentheincomeisfirstearnedfromtheeligiblebusiness;50%abatedforthenexttwoyears

Acquisition and registration

tax on land and buildings

Amounteligiblefortaxabatement

Taxamountcomputedontheassetmultipliedbytheforeigninvest-mentratio

Abatedperiod/ratio

Theamountarrivedatbymultiplyingthecomputedtaxamountbytheforeigninvestmentratio(“taxamounteligiblefortaxabate-ment”)for10yearsfrombusinessstartdate;50%ofthetaxamounteligibletotaxamountforthenextfiveyears

Property tax Determinedbybasicmunicipalgovernmentordinances

Exemption of customs, etc. (full exemption regard-

less of foreign investment ratio)

Taxeseligibleforexemption Customs,specialconsumptiontax,valueaddedtax

Capitalassetseligiblefortaxexemption

Capitalgoodsrequiredforbusinesseligiblefortaxabatement

Details of Tax Abatement

Tax Abatement

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Details

Business

•Planning,development,production,manufacturing,distributionandconsumptionofcultureproductsbelongingtocultureindustryandrelatedservices

• Management,operationanddisposalofcultureproductsbelongingtocultureindustryandrelatedservices

•Contractingforperformingtheaboveactivitiesandservicesincidentaltosuchactivities

Registrationrequirements

• Theapplicantshouldbealimitedpartnershiporstockholdingcompanyfoundedpursuanttothelaw

•Paid-incapitalatthetimeoffoundingshouldbeUSD90,253(KRW100million)ormore• Thebusinessmanagerwithwhomabusinessoutsourcingcontractisconcludedshouldnotbeunderabusinesssuspensionorder

• Theassetmanagerwithwhomanassettrustcontractisconcludedshouldnotbeunderabusinesssuspensionorder

• Thedetailsofthedocumentssubmittedforregistrationshouldnotbreachthelaworordersissuedpursuanttoit

• Thedocumentssubmittedforregistrationshouldnotincludeanyfalsedetails,andnokeyfactsshouldbeomitted

Registrationprocedure

ThecultureindustryspecialpurposecompanyshallsubmititsregistrationapplicationandsupportingdocumentstotheMinisterofCulture,SportsandTourism.

Details

Corporate tax

If90%ormoreofprofitavailablefordividendisdivided,thesaidamountisdeductedfromtheincomeearnedduringthebusinessyear.

Local taxes

WhenacultureindustryspecialpurposecompanyfoundedpursuanttotheFrameworkActonPromotionofCulturalIndustriesmakesaregistrationofincorporationby31December2009(includingcaseswherecapitalisincreasedwithinfiveyearsfromfounding),itwillbeexemptedfromtheheavytaxation(300/100)oftheregistrationtax(0.48%ofcapital).

Culture Industry Special Purpose Company

Details of Tax Abatement

Culture Industry Special Purpose Company SystemApplication Procedure

BusinessesmayrequestthattheMinisterofStrategyandFinanceconfirmwhethertheirbusinessiseligiblefortaxabatementbeforereportingtheirforeigninvestment;theMinisterofStrategyandFinanceshallnotifytheapplicantoftaxabatementeligibilitywithin20days.

Foreign-investedbusinessesarerequiredtoapplyfortaxabatementtotheMinisterofStrategyandFinancewithinthelastdayofthetaxyearinwhichthebusinessstartdatebelongs.

TheMinisterofStrategyandFinanceandtheministeroftheministryrelatedtotheappliedtechnologiesshouldmakeadecisiononthematterandnotifytheapplicantoftaxabatementeligibilitywithin20days.

Step 1Application for pre-confirmation of eligibility of tax abatement

Step 2Application for tax abatement

Step 3Decision and notification on tax abatement

TheKoreangovernmentprovidesthefollowingtaxbenefitswhenabusinessestablishesaspecial-purpose

companytocarryoutaspecificprojectinthecultureindustry,operatesitsassetsforsuchculturebusiness

andallocatesthereturnsamongtheinvestors,employeesandshareholders.

Thecultureindustryspecialpurposecompanysystemissummarizedasfollows.

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Foreign Investment Process

Business Activities of Foreign Companies in KoreaThevarioustypesofforeigncompaniesoperatinginKoreaareclassifiedintothreecategories:localcorpora-

tions,branches,andliaisonoffices.Onlylocalcorporationsarerecognizedasforeigndirectinvestment(FDI).

Investorsshouldchoosethetypeofinvestmentmostsuitabletotheminconsiderationoftherelevantfactors,

suchasthepurposeofbusiness,expenserequiredfortheestablishmentofalocalcorporation,annualtax,

remittanceoffundsbackhome,etc.

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ITㆍDIGITAL CONTENTS INDUSTRY IN SEOUL / SEOUL METROPOLITAN GOVERNMENT

Local corporations Branch offices Liaison offices

Applicable law ForeignInvestmentPromotionAct ForeignExchangeTransactionsAct

Type of corporation Localcorporation Foreigncorporation

Range of business activities

Profit-makingactivitieswithintheapprovedscope Profitmakingisnotallowed

Minimumrequired capital

NotlessthanUSD90,253(=onehundredmillionwon) Nominimumrequiredcapital

Annual taxes

•Corporatetax:10~22%oftaxableincome•Residencetax:10%ofcorporatetax•VAT:between10%ofsupplyvalue

and10%ofsupplycost

• Corporatetax:10~22%oftaxableincome

•Residencetax:10%ofcorporatetax

• VAT:between10%ofsupplyvalueand10%ofsupplycost

Nocorporatetax,ResidencetaxorVATimposed

Tax reduction/exemption

Hi-techbusinessesareeligiblefortaxreductionorexemptionunderTheForeignInvestmentPromotionAct

Taxreduction/exemptionnotapplied

External audit

AbusinesswhosetotalassetamountintheprecedingbusinessyearcametoUSD90,253,000(KRW10billion)ormoreislegallyrequiredtohireanexternalauditor.

Noexternalauditrequired

Loans in Korea Possible,basedoncredit Realisticallyimpossible

Recognized as FDI Recognized Notrecognized Notrecognized

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Foreign Direct Investment ProcessForeigndirectinvestmentinKoreaincludesacquisitionsharesorequityofaKoreancorporationorbusiness

byaforeignnational;provisionofalong-term(over5years)loantoafinancedKoreancorporation;and

contributiontoanon-profitcorporation.

AminimumofKRW100million(approx.USD90,253)mustbeinvestedintheacquisitionofaKorean

business’sshares,andmorethan10%ofthetotalsharesorinvestmentinacompanyaninvestingforeign

nationalhasvotingrightsinmustbeownedtoconstituteaforeigndirectinvestment.

•Minimumrequiredinvestment:overKRW100million(approx.USD90,253)

•�Requiredforeigninvestmentratio:ownershipofover10%ofthetotalsharesorinvestmentinacompanya

concernedforeignnationalhasvotingrightsin

(Exceptions):•Contractswhichallowthedispatchorappointmentofexecutivepersonnel

•Contractswhichstipulatethesupplyorpurchaseofmaterialsorproductsforaperiod

longerthan1year

•Contractswhichstipulatetheprovision,acquisitionorjointresearchoftechnology

TheprocessofforeigninvestmenttakingplacethroughtheestablishmentofalocalcorporationinKoreais

asfollows.

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ThefirstactionrequiredwhenaninvestmenthasbeendecidedtobemadeinKoreaistoreportanestimationofinvestmenttobemade.However,investmentofthereportedamountisnotmandatory.•�Location:KOTRAheadoffice,domestic/overseasoffices,aforeignexchangebankheadofficeandbranches

•�Required documents:investmentreport,certifiedcopyofacorporationregistration(forcorporations),citizenshipcertificateorpassport(forindividuals),letterofattorney(whenreportedbyanagent)

Step 1Foreign Investment Report

ThisstepinvolvesthetransferofaninvestmentfundstoaforeigninvestmentbankinKoreaunderthenameofaforeigninvestor.TheinvestorisnotrequiredtoownanaccountinKorea,butisrequiredtotransfertheinvestmentfundsintoKoreainforeigncurrency.AndthetransferredmoneymustbeconvertedintoKoreanwonanddepositedinabankaccount.Aforeigncurrencypurchaseinvoiceisissued.

Step 2Transfer and Conversion of Investment Funds

TheinvestmentfundsareconvertedintoKoreanwonandpaidassharecapital.Asharecapitalpaymentinvoiceisissuedfromthebank.•Requestfortheaboveactionismadetoabankbytheinvestororajudicialscrivener.

•�Requireddocuments:shareholders’list,articlesofassociation,minutesofinauguralgeneralmeeting,minutesofboardofdirectors’meetings

Step 3Share Capital Payment

Step 4Corporation Establishment Registration

Step 5Business Registration

Step 6Foreign-Invested Company Account Setup

Step 7Foreign Investment Company Registration

Step 8Visa Request

Corporationestablishmentcanberegisteredatthecourthouse(districtoffice)underthejurisdictionofwhichthelocationofthecorporationfalls.•Registeredatacourthouse(districtoffice)

•�Requireddocuments:foreigninvestmentnotificationcertification,letterofattorney,executiveappointmentacceptanceletter,corporationseal,copyofleasecontract,minutesofboardofdirectors’meetings

Businessregistrationismadeatthetaxofficeunderthejurisdictionofwhichthelocationofthecorporationfalls.•Registeredatataxoffice

•�Requireddocuments:businessregistrationapplicationform,copyofforeigninvestmentnotification,foreigncurrencypurchase/depositcertificate,copyofleasecontract

Newcorporationsmustopenabankaccountusingabusinessregistrationnumber.Attherequestoftheforeign-investedcompany,thebankcantransferfundstothisaccountforthecompanytouseforbusinesspurposes.

Finally,thecompanymustregisterasaforeign-investedcompany.•RegisteredatKOTRAorInvestKOREA

•�Requireddocuments:foreign-investedcompanyregistrationapplicationform,businessregistrationform,foreigncurrencypurchase/depositcertificate

Afterregistrationasaforeign-investedcompany,anapplicationforaD8visaandalienregistrationcardmustbemadetotheInvestorSupportCenteratInvestKOREAortheKoreaImmigrationService.Theissuedvisaisvalidfor6monthsto3years.

AllpreparationsrequiredforbusinessactivitiesandsojourninKoreaare

madethroughtheaboveprocedures.Ifabusinesspremisecontractisinplace,

completionofstep1to8takesapproximately2weeks.

Theaboveprocedureofcorporationestablishmentisdifficultforindividuals

tocomplete.Forthisreason,itisadvisedthattheassistanceofalawfirmor

accountingfirmlistedintheSupportOrganizationssectiononpage91besought.

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Foreign Investment Incentives

Land SupportTheKoreangovernmentprovideslandfreeofchargeoratalowratetoforeign-investedcompanieswhichmeet

certaincriteria.Thislandcanincludeindividualforeigninvestmentzones,complex-typeforeigninvestment

zones,FreeTradeAreasandFreeEconomicZones.

ForeigninvestmentincentivesinKoreaarelargelydividedintothoseprovidedbythecentralgovernment

andlocalgovernments.Andthetypesofincentivesarelandsupport,taxsupport,cashgrantandother

support.

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Tax SupportInvestmentsinbusinessserviceoradvancedtechnologyindustrydesignatedbythe

MinistryofStrategyandFinanceorinvestmentsofasetvalueinamanufacturing,

distribution,R&Dcenterorhotel&resortbusinesswithinaforeigninvestmentzone

orFreeEconomicZoneareprovidedwithareduction/exemptiononcorporation

tax,incometax,localtaxanddividendtaxfor5to7years.

Taxreduction/exemptionisprovidedoncapitalgoodsofabusinessapprovedfortax

reduction/exemptionfor3yearsfromthedateofinvestmentreport(forreported

portions only). A system is in place for verification of tax reduction/exemption

eligibility of business service or advanced technology industry in advance to

assist investors with decision-making. Other tax support, such as investment

tax deductions and small/medium business tax reduction/exemptions, can be

receivedinadditiontotheaforementionedtaxincentives.

Cash GrantThecashgrantsystemisinplacetoattractforeign

investment in industries critical to the Korean

economy. Through negotiations between a foreign

investorandtheKoreangovernment,aminimumof

5%of the investment isprovided to the investor in

cash.

Suchcashsupportisprovidedforforeigninvestments

(withforeign-ownedshareofatleast30%andatleast

USD10 million) in business service and advanced

technology industry and greenfield investment in

parts/material manufacturing. It is also provided

to the establishment or expansion of business

facilities,includingfactoriesandR&Dcenters,which

cancreatealargenumberofjobs.Cashgrantscan

also be offered to investments that do not meet

the eligibility criteria through deliberation by the

foreign investment committee if such investments

aredeemedtohaveapositiveeffectontheKorean

economy,i.e.establishmentofalocalheadquarters

ofamultinationalcompanyortheestablishmentofa

regionalstrategyindustryexpectedtocontributeto

theregionaleconomicdevelopment.

However, theuseofsuchcashgrants isrestricted

to purchase/lease of land for business premises,

construction costs, capital goods, research

equipment/material purchase costs, base facility

installation costs, employment subsidies and

employment training subsidies. To attract more

foreign investments in the future, the Korean

government will redefine the industries that are

eligible for cash support and provide such grants

throughareviewof theexpectedeconomic impact

ofaforeigninvestment,ratherthanitsvolume.The

amountofcashsupportwillalsobeincreased.

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Foreign Investment IncentivesOther SupportPublicPropertyLease/ReducedLeaseFeesLand,factoriesandotherpublicpropertiesownedbythecentral

governmentorlocalgovernmentscanbeleasedorsoldtoaforeign-investedcompanythroughaprivatecontract

withoutconventionalprocedures,e.g.bidding.

Employment Subsidies / Employment Training Subsidies

Employmentsubsidiesoremploymenttrainingsubsidiesareprovidedtocompanieswithatleast30%foreign

investmentratioorcompanieswithaforeignnationalastheprincipalshareholder.Ingeneral,subsidiesare

providedforamaximumof6monthswhen20ormorenewemployeesarehired.

Incentives offered for investors by country

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Korea Singapore China Japan

Offered for

Hi-techbusinesses

Thoseinvestingalargeamount

Businessescontributingtotechnologicaladvanceoftheindustrialstructureviatheadoptionofnewtechnologiesorworkprocesses,orenhancedproductivity

Regionalheadquartersformultinationals N/A

Tax reduction /exemption

Taxreductionorexemptionfor5~7years

Exemptionfromincometaxonprofitearnedfrombusinessactivities

ExportdutiesandVATareexemptedwhenexportinggoodsproducedbyanFDIbusiness

N/A

Land support

Rentreducedby50~100% N/A

•Paying30%ofofficerentinthefirstyear

•Payingasubsidyforthefirst3years

•PayingasubsidyofUSD146.4/m2inthecaseofpurchas-ingabuilding

N/A

Cash grant

Notlessthan5%oftheinvestmentamount

ProvidingfinancialsupportinthecaseofbuildinganR&Dcenter

Payingexpensesassociatedwithintellectualpropertyrightsandhumanresources

N/A N/A

Other support

Employmentsubsidy

Education/trainingsubsidy

Payingoperation/R&D-relatedtrainingexpensesinthecaseofanewlyinstalledfacility

Itispossibletoapplyforasubsidyconcerningdirectors’vehiclesandhousingfromtheCityofBeijing.

Noseparateincentivesareofferedtoforeigninvestors,butsomelocalgovernmentsprovideincentives.

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Support OrganizationsITㆍDIGITAL CONTENTS INDUSTRY IN SEOUL / SEOUL METROPOLITAN GOVERNMENT

Support Organizations

Law Firms

Name Website Address Phone Number

Kim & Chang www.kimchang.com SeyangBuilding,#223,Naeja-dong,Jongno-gu,Seoul 02)3703-1101

Lee & Ko www.leeko.com/ #118,2-ga,Namdaemunno,Jung-gu,Seoul 02)772-4377

Bae, Kim & Lee www.bkl.co.kr/ #647-15,Yeoksam-dong,Gangnam-gu,Seoul 02)3404-0138

Shin & Kim www.shinkim.com #1-170,Sunhwa-dong,Jung-gu,Seoul 02)316-4275

Yulchon www.yulchon.com/ #944-31,Daechi3-dong,Gangnam-gu,Seoul 02)528-5237

Jisung Horizon www.jipyong.com/ #45,4-ga,Namdaemunno,Jung-gu,Seoul 02)6050-1635

Hwang Mok Park www.hmpj.com/ ShinhanBankBuilding,#120,2-ga,Taepyeo-ngno,Jung-gu,Seoul 02)772-2702

Lee International www.leeinternational.com/ #60-1,3-ga,Chungmuro,Jung-gu,Seoul 02)2262-6030

Chungjin lawcj.net/ n/a 02)735-5370(~5376)

Kim & Jung www.yjlaw.co.kr/ #647-9,Yeoksam-dong,Gangnam-gu,Seoul 02)552-7249

Kim & Kim www.kimkimlaw.com/ #10,Da-dong,Jung-gu,Seoul 02)755-2980

Hanol www.hanollaw.com/ #159-9,Samsung-dong,Gangnam-gu,Seoul 02)6004-2531

Darae www.daraelaw.co.kr/ #647-9,Yeoksam-dong,Gangnam-gu,Seoul 02)3475-7700

Sigong www.sigonglaw.com/ #677-25,Yeoksam-dong,Gangnam-gu,Seoul 02)565-3131

Mirae www.lawbjp.com/ #1706-10,Yeoksam1-dong,Seocho-gu,Seoul 02)3482-1121

Sojong www.sojong.com/ #737,Yeoksam1-dong,Gangnam-gu,Seoul 02)2112-1144

Darwin www.dawinlaw.com/main.htm Lv2,DaeryunBuilding,#828-25,Yeoksam-dong,Gangnam-gu,Seoul 02)537-1807

Sunmyung www.smlawyer.co.kr #157-27,Samsung-dong,Gangnam-gu,Seoul 02)559-0946

EYP www.laweyp.com/ #720-4,Yeoksam-dong,Gangnam-gu,Seoul 02)531-8062

Lian www.lianlawyers.com/ #51-7,Banpo4-dong,Seocho-gu,Seoul 02)535-5217

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Name Website Address Phone Number

Price Water house Coopers

Koreawww.pwc.com/kr/ko/ Lv21,LSYongsanTower,#191,Hangangno2-ga,Yongsan-gu,Seoul 02)709-3369

Deloitte Anjin www.deloitteanjin.co.kr/ Lv14,HanhwaSecuritiesBuilding,#23-5,Yeouido-dong,Yeongdeungpo-gu,Seoul 02)6676-2530

KPMG Samjung

www.kpmg.com/kr Lv10,StarTower,#737,Yeoksam1-dong,Gangnam-gu,Seoul 02)2112-0922

Ernst & Young www.ey.com/kr Lv3-8,TaeyongBuilding,#10-2,Yeouido-dong,Yeongdeungpo-gu,Seoul 02)3770-0921

Woorim www.wrac.co.kr Lv2,DonghunTower,#702-19,Yeoksam1-dong,Gangnam-gu,Seoul 02)566-4126

Daejoo www.bdodaejoo.co.kr Lv3,DonghaBuilding,#629,Daechi-dong,Gangnam-gu,Seoul 02)3452-2869

Woori www.wooricpa.co.kr/ 14F,H-Tower192-19Nonhyeon-dong,Gangnam-gu,Seoul,Korea 02)6052-4005

Sungto www.sungto.co.kr/ Lv17,KunseolHoigwan,#71-2,Nonhyun2-dong,Gangnam-gu,Seoul 02)513-0208

Dasanwww.dasantax.com.

ne.kr/Lv5,KMBuilding,#967-3,Daechi3-dong,Gangnam-gu,Seoul 02)2193-0141

Il Shin N/A Lv4,KMBuilding,#130-10,Samsung-dong,Gangnam-gu,Seoul 02)567-9100

Han Kyung hko.co.kr/ Lv4,TaewhaBuilding,#996-15,Daechi3-dong,Gangnam-gu,Seoul 02)552-2671

E-Hyun www.ehyunac.com Lv13,DongkyingBuilding,#824-19,Yeoksam1-dong,Gangnam-gu,Seoul 02)3011-1156

G-Pyung www.g-pyung.co.kr/ Lv14,WonbangBuilding,#143-42,Samsung2-dong,Gangnam-gu,Seoul 02)3420-3371

Sebit www.sebit.co.kr/ Lv2,KunseolHoigwan,#71-2,Nonhyun-dong,Gangnam-gu,Seoul 02)3438-2401

Dongnam www.dongnamcpa.com/ Lv4-5,KLNetBuilding,#748-14,Yeoksam1-dong,Gangnam-gu,Seoul 02)501-0024

Lian www.lianits.co.kr/ Lv8,HaesungBuilding,#51-7,Banpo4-dong,Seocho-gu,Seoul 02)537-1807

Daemyung Grant Thorton

www.dmgt.co.kr/ Lv3,DongshinBuilding,#140-30,Samsung2-dong,Gangnam-gu,Seoul 02)2056-3701

Taeyoung www.tya.co.kr/ Lv9,YoungpoongBuilding,#142,Nonhyun1-dong,Gangnam-gu,Seoul 010)4660-2093

Samwha shcpa.co.kr Lv9,InwooBuilding,#539-11,Shinsa-dong,Gangnam-gu,Seoul 02)554-6960

Horwath Choongjung

www.crowehorwath.net/KR/

Lv9,KoreaChamberofCommerceandIndustryBuilding,#45,Namdae-munno4-ga,Jung-gu,Seoul 02)3166-641

Sunmyung www.smcpa.co.kr Lv11,KyungamBuilding,#157-27,Samsung-dong,Gangnam-gu,Seoul 02)559-0946

Accounting Firms

ITㆍDIGITAL CONTENT INDUSTRY IN SEOUL

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