Designation of investment areas
*City mayors and provincial governors will have the right to designate areas for foreign investment where foreign investors may receive preferential treatment. In addition, local autonomous governments, too, can provide financial assistance to foreign investors.
Faster factory approvals required
*The government is obliged to respond within 20 days to requests for approvals required to establish factories. Until now, the government has been obliged to respond within 30 days.
Govt. offices to buy more KT Mark equipment
*The number of public institutions and government agencies who are required to purchase equipment and appliances bearing the KT Mark up to 20 percent of their total requirements will be increased to 151 from 33.
*This year the government will introduce a research and planning assessment program that deals exclusively with the task of planning and evaluating R&D operations.
Longer penalties for breaching R&D project rules
*Companies who have breached rules on R&D projects will now be barred from participating in future research programs for a set period of three years instead of the current two years.
Blanket rates for Internet phone services
*Internet phone services offering blanket rates for both local and long distance calls will be launched in early this year.
*Starting from 1st April 2005, the government will tighten its regulations on sending spam mail, including advertisements, without the consent of recipients.
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