World Economy

S. Korea Easing FEZ Rules

S. Korea Easing FEZ RulesS. Korea Easing FEZ Rules

South Korea’s deputy prime minister and minister of strategy and finance, Choi Kyung Hwan, has announced that regulations will be eased in South Korea’s eight free economic zones to enhance their ability to attract foreign direct investment. reported. During a ministerial meeting on international economic affairs on August 26, Choi said that the government is to implement policies that will, for example, permit companies in an FEZ to hire more foreign employees. The South Korean government hopes to boost inward FDI to $20 billion this year, as part of its plans to strengthen the country’s economic growth.