In an attempt to spark a resurgence in Foreign Direct Investment in Korea, the Korean government has proposed the development of Mini Free Economic Zones. These zones are an attempt to attract SMEs that supply parts to Korean companies.
These Mini-FEZs are
expected to charge rent far lower than market value in Korea, offer tax
incentives, while offering no fee leases for companies that bring into
the country technology and invest over USD 1 million in the local
The exact details of the plan are not known. I will update the readers when more details become known.
I suspect that the plan will, also, be a benefit to companies already in Korea that are looking to modernize facilities.
IPG is engaged in projects for companies and entrepreneurs doing business in Bangladesh, Cambodia, China, Korea, Laos, Myanmar, the Philippines, Vietnam and the U.S.