Apr 18, 2013

Foreign SME's will now may be Qualified for Free Economic Zones

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 economy.

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.


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SeanHayes@ipglegal.com

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.

www.ipglegal.com