SEOUL, KOREA - The Korean government will revise its foreign investment incentive system to provide more benefits to investors creating more jobs, according to the Ministry of Trade, Industry and Energy.
As of now, foreign-invested areas are considered foreign investment districts, and investors can enjoy various benefits, including reduced rent when the investment exceeds USD 30 million (manufacturing industry) or USD 20 million (tourism industry).
With the revisions, foreign investors investing less than the set amounts can have their production facilities designated as part of a special foreign investment district provided they help create a certain number of new jobs.
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