Korea to establish 'mini' FEZs for foreign investors

By Park Sae-jin Posted : April 19, 2013, 14:59 Updated : April 19, 2013, 14:59
The govenment said it will introduce "mini" free economic zones (FEZs) for foreign investors.

The decision came in a meeting of the Ministry of Trade, Industry and Energy's committee on foreign investment Wednesday, the ministry said.

The size of "mini" FEZs will be one-fourth of that of the existing FEZs for foreign investors, a ministry official said.

He said the government will provide significant incentives to foreign investors, such as tax exemption, reduction of rents and cash assistance.

The ministry held a roadshow in Daegu Friday for those seeking investment opportunities in Korea. Similar events will be held in other cities, it said.

By Josephine Liu Yan Yee
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