According to Yonhap News,
South Korea will work to reform its regulations on foreign investment in an effort to enhance the country's competitiveness as a destination for global investment, the industry ministry said Thursday.
A meeting was held to identify regulations that may be unfair to foreign companies or do not align with global standards, involving officials from the American Chamber of Commerce in Korea, the European Chamber of Commerce in Korea, the Seoul Japan Club and other related institutions, according to the Ministry of Trade, Industry and Energy.
The ministry said it will work to bolster Seoul's credit standing, as well as its attractiveness as a global investment destination, by removing or improving such regulations.
In 2024, foreign-invested firms accounted for 11 percent of the annual revenue raised by all companies here, according to the ministry. They also accounted for 6 percent of total employment and 21 percent of exports last year.
nyway@yna.co.kr
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Source: Yonhap News (February 20, 2025)