The new incentive programme goes into effect Jan 1, 2009 - replacing the outgoing programme that offered up to $100,000 for two films a year that shot 25% or more of footage in Gyeonggi province.
With Gyeonggi's new 10% rebate incentive, productions must spend at least KW200m ($138,000) in the area on food, gas, vehicle rentals, and other purchases of goods.
The province will return 10% of thisspendwith a maximum cap of KW100m ($69,000) per production. The productions must be set for theatrical release or TV broadcast.
Last year, Gyeonggi province launched an initiative to promote co-ventures with Hollywood, which includes a $100m fund for films, animation and games projects with global appeal.
Australia's Queensland state also signed a memorandum of agreement (MOU) with Gyeonggi province to foster the development of film and digital content, and promote understanding and cooperation.
Gyeonggi province is also looking into incentives for productions to employ Gyeonggi residents, and is set to hold a locations incentive presentation and discussion tomorrow in Seoul.