ANNOUNCEMENT 05 Oct 2010In October 2010, the government of Republic of Korea announced changed incentives for foreign investors entering the country.
NUMBER OF INTERVENTIONS
Korea Herald, 5 October 2010, 'Korea to expand FDI zones for service sector': http://www.koreaherald.com/view.php?ud=20101005000845
WTO-UNCTAD-OECD Fourth Report on G20 Trade and Investment Measures, mid-May to mid-October 2010: http://www.oecd.org/daf/inv/investment-policy/46318551.pdf
On 5 October 2010, the Republic of Korea amended the Presidential Decree on the FDI Act. The amendments opened up investment in certain service sectors inside the designated FDI zones.
The service sectors involved include knowledge services, tourism, logistics, finance and education.
Moreover, the amendments allow for city centres - rather than peripheral industrial estates, harbour areas, etc. - to be designated as FDI zones.
Finally, the threshold for compulsory registration with the government of FDI was doubled from 50 to 100 million won (from US$ 44,500 to US$ 89,000).