South Korea Film Tax Incentive

KOFIC Location Incentive

South Korea's principal national incentive for foreign production is the KOFIC Location Incentive administered through the Korean Film Council (KOFIC). The official KoBiz page states that the incentive offers a 25 percent cash rebate of Qualified Production Expenditures, which include expenditures made in Korea directly related to pre-production, production, and post-production provided by Korean audiovisual companies, as well as qualifying cast and crew compensation directly attributable to Korean activity.

Incentive Rates

• 25% cash rebate of Qualified Production Expenditures for full production in Korea
• 15% cash rebate for projects submitted after completion of shooting in Korea that are only in the process of post-production in Korea

Eligibility Thresholds and Caps

• Minimum days: more than five shooting days in Korea
• Minimum spend: more than KRW 400 million in Qualified Production Expenditures (KRW 50 million in certain qualifying co-production contexts involving specified countries and Asian Film Alliance Network members)
• Annual budget: KRW 896 million
• Per-project cap: KRW 400 million for co-production films; KRW 300 million for foreign projects

Applicant Requirements

The applicant must be a lawfully registered Korean producer and, in the case of foreign audiovisual works, must provide production services under contract to the non-Korean production company and manage the Korean production account.

Strategic Notes for Producers

South Korea is best understood as a national cash rebate programme focused specifically on inbound production and co-production rather than as a general tax-credit market. Its competitive value lies in the clarity of the rebate, the central role of KOFIC, and the ability to recover part of Korean production spend when the project is properly structured through a Korean producer or service company.

In practice, the programme strongly incentivizes productions that are doing substantial, real work in Korea and not merely minimal location activity. The per-project caps mean that the KOFIC incentive typically functions as a partial financing contribution rather than a primary anchor for very large productions.

Frequently Asked Questions

What is the South Korea film rebate?

South Korea offers a 20-30% (KOFIC location incentive) rebate, structured as a Cash Rebate + Tax Credit, with an annual program cap of Subject to annual budget. The program is designed to attract film and television productions by offsetting a portion of qualifying local expenditures.

How much is the South Korea film rebate?

The South Korea rebate is 20-30% (KOFIC location incentive), structured as a Cash Rebate + Tax Credit. The exact rate your production qualifies for may depend on factors such as local hiring, filming location, and production type.

What is the minimum spend to qualify for the South Korea film rebate?

Productions must meet a minimum spend threshold of KRW 50M (~$38K) + 3 shoot days in South Korea to be eligible. Spend typically includes below-the-line costs incurred within the region, though qualifying criteria vary by program — consult the local film office for the full eligibility rules.

Is there a cap on the South Korea film rebate?

Yes. The South Korea program has a program-wide cap of Subject to annual budget and a per-project cap of None specified. Productions should apply early, as allocations can be limited.

How do I apply for the South Korea film rebate?

Productions typically apply through the South Korea film office or the relevant government agency. Applications are generally submitted before principal photography begins, with final certification issued after production is complete and qualified spend is audited. Check the official film office website for current application guidelines, deadlines, and required documentation.