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국내 전략산업 투자유치 인센티브 개편 방향(Reforming Incentive Policies to Increase FDI in Korea’s Strategic Industries)

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본 연구에서는 미국, EU, 일본, 중국 등 주요국의 최근 전략산업 투자유치 인센티브 제도에 대한 조사를 바탕으로 ‘현금지원제도 확충 및 개선’과 ‘첨단산업 특화단지 및 기회발전특구 활용’을 국내 전략산업 투자유치 인센티브 개선 방향으로 제시하였다. 구체적으로 현금지원제도 확충 및 개선 방향의 경우 현금지원 예산 규모의 확대, 소프트웨어 측면의 연구개발 지출에 대한 지원 확대, 고용창출 효과뿐만 아니라 고용의 질을 함께 고려한 현금지원 규모 산정 등이 필요한 것으로 분석되었다. 이와 함께 전략산업의 대규모 투자에 대한 파격적인 지원이 가능하도록 첨단산업 특화단지와 기회발전특구를 연계하는 방안을 제시하였다. Foreign direct investment(FDI) in Korea remains at a lower level compared to that of major countries, although the amount of FDI in Korea in 2022 on notification basis exceeded 30 billion USD for the first time in history. And major advanced countries have recently expanded investment incentives to strategic industries such as semiconductors and secondary batteries. Therefore, we need to make a landmark transformation of our FDI incentive policies. In this regard, this study first took a look at the recent trends of FDI in Korea and reviewed the incentive systems for attracting strategic investment in major countries such as the U.S., the EU, Japan, and China. And then it attempted to present policy directions for reforming incentive systems to attract strategic investment to Korea. In particular, it aimed to present the improvement of the cash incentive system as well as the use of specialized complexes for advanced industries and specialized zones for equal opportunity development.First, by looking at the recent trends of FDI into Korea (2010~2022), there are more FDI from advanced countries and tax haven countries such as U.S.A., Japan, Singapore, Malta, Netherland than from others. Also, we found more FDI in services industry than in manufacturing industry. Finally, there were more greenfield FDI than M&As. Next, we investigated recent incentive systems to attract investment in strategic industries in some key countries. These include the CHIPS and Science Act along with the Inflation Reduction Act of the U.S., and the European New Investment Strategy, InvestEU Program, and European Chips Act in the EU. We also analyzed Japan’s Direct Investment Promotion Strategy toward Japan, Promotion Act of 5G, Semiconductor Fund, and Green Innovation Fund, as well as China’s FDI expansion policy in the manufacturing sector. From this investigation, we confirmed that major countries (ⅰ) operate investment incentive systems without any discrimination between foreign and domestic firms, (ⅱ) provide large amounts of investment subsidies, and (ⅲ) have formed a social consensus that large-scale assistance is necessary to attract investment in strategic industries.(the rest omitted)

Suggested Citation

  • Kim, June Dong & Lee, Seong-Bong & Kim, Hyuck-Hwang, 2023. "국내 전략산업 투자유치 인센티브 개편 방향(Reforming Incentive Policies to Increase FDI in Korea’s Strategic Industries)," Policy Reference 23-7, Korea Institute for International Economic Policy.
  • Handle: RePEc:ris:kiepre:2023_007
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    Keywords

    Foreign direct investment; subsidies; incentives;
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