ANNOUNCEMENT 31 Jul 2009In July 2009, the government of Republic of Korea announced changed incentives for foreign investors entering the country.
NUMBER OF INTERVENTIONS
Ministry of Knowledge Economy (4 August 2009). Foreign Investors to Enjoy Greater Incentives. Available at http://www.mke.go.kr/language/eng/news/news_view.jsp?seq=825&srchType=1&srchWord=&tableNm=E_01_01&pageNo=2
On 31 July 2009 the Foreign Investment Promotion Act came into force. According to the Korean Ministry of Knowledge Economy, in a press release issued by its Trade Policy Division, "rent-free land will be provided at four parts and materials complexes reserved exclusively for foreign businesses. The revisions also encourage local governments to support foreign schools by providing financial assistance for construction work or the purchase of land."