Article 1 (Purpose)

The purpose of this Municipal Ordinance is to prescribe matters necessary for the designation, and rescission of designation, of Jeju investment promotion zones pursuant to Articles 217 and 218 of the Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of Free International City.

Article 2 (Requirements for Designation of Jeju Investment Promotion Zone)

The Governor of Jeju Special Self-Governing Province (hereinafter referred to as "Governor") may designate a Jeju investment promotion zone (hereinafter referred to as "investment promotion zone") only where requirements under the following classifications are met:

1. Where he/she intends to designate an area pursuant to Article 217 (1) 1 of the Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of Free International City (hereinafter referred to as "Special Act") as an investment promotion zone, a fact falling under any of the following items shall exist:

(a) Designation of the prospective executor of a development project pursuant to Article 228 of the Special Act;

(b) Approval for the execution of a development project pursuant to Article 229 of the Special Act;

(c) Authorization, permission, approval, report, etc. having been obtained pursuant to respective Act by which the intent of operating a business pursuant to Article 36 (1) of the Enforcement Decree of the Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of Free International City (hereinafter referred to as "Enforcement Decree of the Special Act") can be confirmed;

2. Where he/she intends to designate an area pursuant to Article 217 (1) 2 of the Special Act as an investment promotion zone, it shall meet the requirements in the subparagraphs of Article 36 (2) of the Enforcement Decree of the Special Act.

Article 3 (Application for Designation of Investment Promotion Zone)

The investor falling under Article 217 (1) of the Special Act may prepare a document concerning a plan for the designation of an investment promotion zone pursuant to Article 5 for an area meeting the requirements pursuant to Article 2, and file an application for designation of the investment promotion zone with the Governor.

Article 4 (Determination and Notification whether to Formulate Plan for Designation of Investment Promotion Zones)

(1) If an application for designation of an investment promotion zone is filed as prescribed in Article 3, the Governor shall confirm or study the following matters, determine whether to formulate a plan for the designation of an investment promotion zone and notify the result to the investor within 30 days:

1. Feasibility of an investment plan;

2. Effect on the local economy, such as efficient utilization of land, increase in employment, etc.;

3. Whether the requirements under Article 2 are met.

(2) In order to judge whether to formulate a plan for the designation of an investment promotion zone as prescribed in paragraph (1), the Governor shall hear the opinions of the chairperson of the Jeju Free International City Development Center (hereinafter referred to as "chairperson of Development Center") and the head of relevant administrative Si.

(3) Where the head of an administrative Si presents an opinion on the designation of an investment promotion zone as prescribed in paragraph (2), it shall include the following matters:

1. Whether the facility subject to investment, which an investor intends to establish in an area where an application for designation of an investment promotion zone is filed, is appropriate for the special-purpose area, special-purpose district or special-purpose zone pursuant to the National Land Planning and Utilization Act;

2. Whether authorization, permission, etc. are obtained under the jurisdiction of the head of the relevant administrative Si as prescribed by Acts and subordinate statutes.

Article 5 (Formulation of Designation Plan)

(1) Matters to be included in a plan for the designation of an investment promotion zone shall be as prescribed in the following classifications:

1. Where a plan for the designation of an investment promotion zone is to be formulated for an area pursuant to Article 217 (1) 1 of the Act: Attached Table 1;

2. Where a plan for the designation of investment promotion zone is to be formulated for an area pursuant to Article 217 (1) 2 of the Act: Attached Table 2.

(2) Where the Governor formulates a plan for the designation of an investment promotion zone, he/she shall confirm whether it meets the requirements under Article 2.

(3) Where the Governor formulates a plan for the designation of an investment promotion zone, he/she shall hear the opinions of the chairperson of the Development Center and the head of an administrative Si having jurisdiction over the location of the relevant investment promotion zone, and allow residents to peruse the following matters for not less than 14 days by announcing such matters in the official report of Jeju Special Self-Governing Province and on the Internet website:

1. Objectives and details of designation of an investment promotion zone;

2. Place to peruse the plan;

3. Period during which opinions are to be submitted and methods thereof;

4. Other matters necessary for perusing such plan and submitting opinions thereon.

Article 6 (Designation of Investment Promotion Zones)

(1) Where the Governor intends to designate an investment promotion zone as prescribed in Article 217 (1) of the Special Act, he/she shall formulate a plan for the designation of an investment promotion zone pursuant to Article 5 and have it deliberated by the Deliberative Committee on Master Plan for Jeju Free International City (hereinafter referred to as "Deliberative Committee on Master Plan") pursuant to Article 226 of the Special Act.

(2) Where the Deliberative Committee on Master Plan deliberates on the matters in paragraph (1), it shall examine whether to grant designation in comprehensive consideration of the influence, etc. on the local economy, such as the feasibility of the relevant investments to attract, efficient use of land, increased employment, etc. based on the plan for the designation of investment promotion zone.

Article 7 (Modification of Designation)

(1) Where the details of designation of Jeju investment promotion zone designated as prescribed in Article 217 of the Special Act are to be modified, the Governor shall have such matters deliberated on by the Deliberative Committee on Master Plan: Provided, That in any of the following modification, this shall not apply:

1. Modification of the name of the development project;

2. Modification of the name of the investor or the name or title of company;

3. Modification of the project period up to 20/100 of the total project period;

4. Modification of the planned size, amount of investment and scale of employment up to 20/100 of the original plan;

5. Modification of the land utilization plan and the plan for major infrastructure due to the conditions of geographical or geological features.

(2) Articles 2 through 6 shall apply mutatis mutandis to the modification of an investment promotion zone pursuant to paragraph (1).

Article 8 (Management of Investment Promotion Zones)

The chairperson of the Development Center shall prepare and manage investment promotion zone management cards in Form 1 in order to manage investment promotion zones as prescribed in Article 217 (3) of the Special Act.

Article 9 (Obligation to Submit Data)

(1) The investor in an investment promotion zone shall record the amount of investment, state of employment, etc. on a half year basis in Form 2 and submit it to the chairperson of Development Center not later than the end of the relevant half year.

(2) Where the Governor or chairperson of Development Center requests data in addition to the biannual report under paragraph (1), the investor shall comply with such request.

Article 10 (Examining whether Investment is Made)

The chairperson of Development Center shall examine and confirm whether investments are made according to the public notification under Article 217 (2) of the Special Act, and notify the Governor of the result thereon not later than the end of every February.

Article 11 (Notification of whether Standards for Designation Are Violated, etc.)

Where the investor in an investment promotion zone fails to meet the standards for designation under Article 36 (1) of the Enforcement Decree of the Special Act, the chairperson of Development Center shall notify the Governor of such fact.

Article 12 (Order to Meet Standards for Designation)

Where an investor fails to meet the standards for designation under Article 36 (1) of the Enforcement Decree of the Special Act, the Governor shall specify a period within the extent of six months and order such investor to meet the standards: Provided, That where unavoidable reasons are recognized to be in existence, he/she may extend the period only once insofar as it does not exceed the original period for performance.

Article 13 (Hearings)

Where an investor fails to meet the standards for designation of an investment promotion zone under Article 12, the Governor shall hold a hearing as prescribed in Article 347 of the Special Act before making a request for the rescission of designation to the Deliberative Committee on Master Plan.

Article 14 (Procedures for Rescinding Designation)

(1) Where an investor fails to meet the standards for designation within the period for performance under Article 12, the Governor shall request the Deliberative Committee on Master Plan to deliberate on the rescission of designation within 30 days from the expiration of the period for performance.

(2) Where the Governor requests deliberation on the rescission of designation of investment promotion zone as prescribed in Article 218 of the Special Act, he/she shall prepare a proposal of rescission of designation including the following matters and submit it to the Deliberative Committee on Master Plan:

1. Name, location and size of the relevant investment promotion zone;

2. Trade name, name and nationality of the investor or public institution performing the project;

3. Details of major projects in which investment is made and investment projects that have been attracted;

4. Reasons for rescinding designation.

(3) Where the Governor prepares a proposal for terminating designation under paragraph (2), he/she shall hear the opinions of the investor and the chairperson of Development Center and attach such opinions to the proposal for rescission of designation.

(4) Where the Governor rescinds the designation of an investment promotion zone as prescribed in paragraph (2), he/she shall publicly notify such fact and the following matters in the official report of Jeju Special Self-Governing Province and on the Internet website, and inform the Commissioner of the National Tax Service, Commissioner of Korea Customs Service and the chairperson of Development Center of them within ten days from rescission:

1. Name, location and size of the investment promotion zone;

2. Trade name, name and nationality of the investor or public institution performing the project;

3. Reasons for rescinding designation.

ADDENDA

Article 1 (Enforcement Date)

This Municipal Ordinance shall enter into force on the date of its promulgation.

Article 2 (General Transitional Measures)

The investment promotion zone designated and publicly notified pursuant to the previous provisions at the time this Municipal Ordinance enters into force shall be deemed an investment promotion zone pursuant to this Municipal Ordinance.