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Information of Land Supply

What is the DMC

Land Supply (Core and General Function Area)

Eligible Investors by Lot
Those intending to purchase and develop land within Seoul DMC are separated by business category/characteristics/entity.
Eligible Investors by Lot
Lot Category Potential Tenant Companies
Core and Recommended
Function Area
Education/R&D/
Hi-Tech Facility
Media and entertainment-related research,
development/digital
General Function Area General business facility, urban entertainment center, shopping center, management and developers

Land Supply Procedure and Types of Lot

Land Supply Procedure
A notice of the land supply business plan will be received by operators after undergoing Assessment.
Announcement of a supply notice-Submission of business plans-Examination of business plans-Selection of preferred bidders-Development
Types of Lot
Types of Lot
Category Lot Price Type
Core Function Area Supply price at preparation cost(for the public sector) Magnet Facility via Public Sector Projects
Appraised value (for the commercial sector) Education/Research-R&D Center/Business Support Center, IT Education Center
Recommended Function Area Supply price at preparation cost) Hi-tech Business Facilities by Commercial Sector
Appraised value (for the commercial sector) Venture Capital Close Support Facility / Company Office
General Function Area Highest bid Landmark Building & General Commerce
Hotel, Convention Center, UEC, Shopping Center

Incentives

Land Supply Incentives
  • Installment Payment Option
  • When purchasing a core function lot or a recommended function lot, an installment payment plan is possible depending on the contract amount.
    • 1) KRW 2 ~ 5 billion won: Payment due within 2 years
    • 2) KRW 5 ~ 20 billion won: Payment due within 3 year
    • 3) KRW 20 billion won and up: Payment due within 5 years
  • Annual Interest Rates per Lot
    • 1) Annual Interest Rates for Installment Payment: 6% per annum (in accordance with the City of Seoul's Public Property Management Ordinance)
    • 2) Foreign-invested Companies: 4%
    • 3) Apartment-type Factories: 4%
Supply Method
Supply Method
Category Eligible Investors
Incentives for purchase of land
  • - Land price negotiable down to the preparation cost for purchase through expanded incentive
  • - Installment payments can be made for up to 20 years.
  • - Annual interest rate of 4% for installment payment options
  • - Lower designated function ratio applied
Eligible for tax exemption
  • - Foreign-invested companies engaging in hi-tech and business support industries are eligible for other incentive packages.
  • - National taxes (corporate tax + income tax): 100% exemption for the first 5 years, 50% reduction for the next 2 years
  • - Local taxes (acquisition tax + registration tax): 100% exemption for the first 10 years, 50% reduction for the next 5 years

Benefits

Incentives for Foreign Investors
As a world-class digital technology cluster and Northeast Asia's top business center, Seoul Digital Media City will create an optimal business and residential environment.
Incentives for Foreign Investor
Category Benefits
Land Sale Plan Certain tracts of land are reserved for foreign investors, with additional bonus points awarded in certain cases to foreign investors upon review of their business potential.
Supply of Rental
Office Space
Priority is given to companies when they move into rental office buildings and venture-related facilities provided at an affordable price by the City of Seoul.
Supply of Rental Accommodation The City of Seoul offers rental housing for foreign nationals with an eye toward creating a convenient living environment.
Incentives in Foreign Investment-related Legislation Pursuant to the Foreign Investment Promotion Act and ordinances of the City of Seoul, hi-tech foreign companies are eligible for incentives such as tax exemption and/or reductions, financial support, and exemptions from other charges.
Long-Term Rent of Land and Buildings Foreign companies can rent land or buildings for up to 50 years (contract extension possible, if necessary).
Convenient Administrative Services
Together with the Seoul Business Agency and SH Corporation, Seoul Metropolitan Government's Digital Media City division (Investment Promotion Division) provides consultation and administrative support for inquiries.
  • Various administrative services and information on land purchase and support for development
  • Support for marketing and promotion to be provided to tenants


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