Where a small or medium enterprise has moved, on account of any of the following causes, its factory or plant into an industrial zone, an industrial zone under an urban plan, or an industrial land designated in accordance with the act for Encouragement of Investment prior to the enforcement of this Act, the land value increment Tax payable on the sale or transfer of its original factory or plant site (land) shall be levied at the lowest tax rate:

1.	Where the original factory land does not meet with the zoning requirements upon implementation of the urban planning or zoning plan;
2.	Where the relocation of factory or plant is applied by the said small or medium enterprise and is approved by the competent authority due to the difficulties in making necessary improvement to meet with the requirements for pollution control, public safety or maintenance of natural landscape; and
3.	Where the relocation of factory or plant implemented under the initiative assistance of the government.

Where the new factory land of a small or medium enterprise is transferred to anther party (or other partied) within three years after the factory relocation made under the preceding paragraph, the reduced portion of land value increment tax reduced while assessing such tax on the original factory land sold or transferred prior to the factory relocation shall be assessed supplementarily in accordance with the act.

2.	After selling land used for self-operated factories, the landowner purchases land in another urban planning industrial zone or on government-designated industrial land for factory establishment.

5.

The transfer registration of the title-ship shall be immediately completed after the current value of any land owned by the company with the transfer declared is confirmed. The land value increment tax duly born by the existing land title holder may be registered under the name of the company acquiring the land after the merger/consolidation and acquisition; in case of any further transfer of that land, the land value increment tax registered shall be paid on a priority basis over any and all liabilities and mortgage from the proceedings of the disposition of such land.

Where a bridge bank assumes the businesses, assets, and liabilities of a suspended insured institution according to Article 30, it may, when applying for registration of the alteration of the real estate owned by the suspended institution, and the movable properties that require registration and all encumbrances of the said institutions, directly process the registration by the certificate issued by the competent authority without paying registration fees. The land value increment tax borne by the original land owner is allowed to be deferred under the name of the land acquirer; the same applies when another insured institution assumes the business, assets, and liabilities of the bridge bank according to the stipulation in the preceding Article. However, at the time when the land with the said deferred tax is being transferred from the bridge bank or from the insured institution assuming the bridge bank, the land value increment tax allowed to be deferred at each transfer shall be paid on a priority over all other creditors' rights and mortgage right in the price received from the disposition of the said land.

Subparagraph 2, Article 28 of the Financial Holding Company Act 

After being approved by the competent authority to convert into a financial holding company or a subsidiary of a financial holding company, a financial institution shall comply with the following provisions:

2.

When land directly used by the financial institution is to be transferred, the registration of transfer of ownership of such land shall be done after the current value of such land has been determined in accordance with the Land Tax Act. The land value increment tax payable on such transfer may be accrued and deferred until the next transfer of such land by the transferee company.If the transferee company becomes bankrupt or is dissolved, the accrued and value increment tax shall have priority [over general creditors].

3.

If the Trustee acquires land by way of foreclosure of mortgages, the certificate of payment of land increment tax need not be submitted when applying for amendment registration. The tax payable upon transfer shall be borne by the original owner of such land pursuant to relevant laws. However, when the Trustee disposes of such land, the competent tax authority will have priority to collect the tax from the sale proceeds of such land for the tax payable by the original owner.

When the Trustee transfers the trust property to another SPC in accordance with the asset trust securitization plan, the preceding paragraph shall apply mutatis mutandis to the registration and taxes related to the asset transfer.

4.

Where the land assumed by the Extinguished Institution in accordance with Article 76 of the Banking Act is transferred to the Surviving Institution or Newly Incorporated Institution due to merger, the land value increment tax shall be exempted;

5.

If land owned by the Extinguished Institution is transferred along with the merger, except for land mentioned in the preceding subparagraph for which land value increment tax is exempted, after the present value of the land is decided upon examination in accordance with the Land Tax Act, the registration for transfer of the title to the land shall be effected, and the payable land value increment tax may be deferred and paid by the Surviving Institution or Newly Incorporated Institution until the land is transferred again. Upon bankruptcy or dissolution, the deferred land value increment tax shall be paid on a priority basis.

2.

Where a landownership holder sells the land used for the original project, and purchase land again for business operating in the new town within 2 years commencing from completion of transfer registration, for the balance of the price of the purchased land exceeding the land price of the original land minus the land value increment tax, the holder may, after starting operating, submit application to the taxation department to apply for refund of the shortage for paying the price of the newly purchased land from the land value increment tax already paid. However, in case the newly purchased land is retransferred or changed to use for industries other than listed in the range of encouragement within 5 years commencing from completion of transfer registration, the refunded tax shall be refunded again.