Regulations in Cummunications Industry Impediment to Foreign Investment

'There are tons of useless restrictions in Korea that prevent us from investing in the communication industry.'
William Schroeder(48), the American president of PSI Net, held an interview on March 15 at the Westin Chosun Hotel in Seoul and emphasized his frustration on the excesses of government control in Korea.
His company is famous for launching the world's first commercial service venture on the Internet back in 1989. It recorded total sales of 260 million dollars in 1998.
It has a customer network of 55,000 companies throughout the world that utilize the information and communications company.
He said, 'The current regulation that puts a ceiling on foreign ownership of a Korean company's stock at under 50 percent is restrictive and counterproductive, since no one wants to commit to a large investment that would only secure it less than half of a company's shares. It's got to be altered up to 100 percent, totally free.'
Schroeder graduated from Cornell University in biology and has earned the nickname the 'Frontiersman of the commercial Internet.'