South Korea Film Tax Incentive

How Does South Korea's Film Tax Incentive Work?

South Korea offers film production incentives through the Korean Film Council (KOFIC) location incentive program, alongside tax credits for domestic productions. The global success of Korean content has driven rapid expansion of these programs.

KOFIC Location Incentive

KOFIC provides a cash rebate on foreign production expenditure incurred in Korea:

• 25% rebate: Productions shooting 10+ days and spending KRW 800M+ (~$600K)
• 20% rebate: Productions shooting 3+ days and spending KRW 50M-800M
• Up to 30%: Maximum rate for qualifying major productions

2026 Tax Credit Updates

Starting January 2026, the basic tax credit rate for large companies increased from 5% to 10%, with SMEs receiving 15%. A new 10-15% credit for webtoon content production runs through December 2028.

Why Productions Choose South Korea

Modern infrastructure. State-of-the-art studios in Seoul and Busan, including CJ ENM Studio Center and KOFIC Namyangju Studio.

Technical expertise. Korean crews are highly skilled in both practical and digital production techniques.

Diverse locations. Ultra-modern Seoul, historic palaces, mountainous countryside, coastal areas, and subtropical Jeju Island.

South Korea Film Incentive: Key Facts

• KOFIC location rebate: 20-30% on Korean expenditure
• Domestic tax credit: 10% (large) / 15% (SME)
• Min spend: KRW 50M + 3 shoot days
• Credit type: Cash rebate (KOFIC) + tax credit (domestic)
• Official resource: KOFIC