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Inward FDI regime and some evidences of spillover effects in Korea

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  • Inward FDI regime and some evidences of spillover effects in Korea
  • Kim, June-Dong
  • Korea Institute for International Economic Policy


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Title Inward FDI regime and some evidences of spillover effects in Korea
Similar Titles
Material Type Reports
Author(English)

Kim, June-Dong

Publisher

Seoul:Korea Institute for International Economic Policy

Date 1999-06
Series Title; No Working Paper / 99-09
ISBN 89-322-4052-3; 89-322-4026-4(세트)
Pages 64
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Direct Investment
Holding Korea Institute for International Economic Policy

Abstract

This paper seeks to document Korea's inward foreign direct investment regime and some evidences of its spillover effects. Since the financial crisis of the late 1997, the Korean government started to actively promote inward foreign direct investment (FDI). In November 1998, the Korean government enacted the Foreign Investment Promotion Act. This new legislation focuses on creating an investor-oriented policy environment by streamlining foreign investment procedures, strengthening investment incentives and establishing an institutional framework for investor relations, including a one-stop service. The Korean government also undertook full-fledged liberalization in the area of hostile cross-border M&A and foreign land ownership.
As of July 1998, the government liberalized medium-term foreign loans in order to reduce the burdens on businesses seeking foreign capital. The requirement that commercial borrowing from abroad should exceed $1 million was eliminated. (The rest omitted)