중앙데일리

Tax Favors for Foreign Investment Expanded

Sept 15,1998
The government decided to confer new tax favors on foreign investment for 280 high-tec industrial sectors including precision machines, environmental sectors, energy and materials.
According to this decision, the number of foreign investment sectors which receive tax favors increases from 265 to 516 and the tax exempt ratio for foreigners rises from 10% to 25%.
Lee Kyu Sung, finance minister, made the announcement at an explanatory meeting on September 15 in which about 300 people including foreign companies' executives and diplomats participated.
Minister Lee said,'It is desperate for Korea to attract foreign capital so as to overcome its current economic difficulties. Therefore, the government will do its best to induce foreign capitals more.'


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