Korea to establish 'mini' FEZs for foreign investors

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

Park Sae-jin swatchsjp@ajunews.com