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  • Foreign direct investment is one source of creating jobs.

  • As such, the Korean government is making all-out efforts to boost foreign investment, which

  • is where Korea′s eight free economic zones come in.

  • Song Ji-sun reports. "To attract more foreign direct investment,

  • Korea has established eight free economic zones over the past dozen years, with their

  • total area amounting to 330 square kilometers... or half the size of Singapore. This one in

  • Incheon was the first to be set up in 2003... and is the biggest of the eight."

  • Foreign investors can receive tax exemptions and incentives when setting up their businesses

  • in these free economic zones. BMW is one of many enjoying the benefits since

  • building its first driving center in Asia at Incheon.

  • "It took years to choose the location through multiple feasibility tests, and we are fully

  • satisfied with our decision. It′s close to the capital and the metropolitan area.

  • It′s close to the airport,... which enables us to provide maintenance service when our

  • clients fly out." Korea seeks to become the center of East Asia

  • in terms of investment... by attracting more FDI in the eight free economic zones.

  • But further deregulation is needed to fight rising competition within the region... as

  • China and Taiwan also launched similar free trade zones last year.

  • "FDI coming into Korea if you go back to 2003, it′s gone up by about a factor of 3. So

  • it′s good progress, roughly on a par with other countries in Asia, but good, solid progress.

  • The competition is there though. I think that′s key. Korea is not alone in doing this."

  • The researcher also points out that inefficiencies in labor and financial markets are slowing

  • things down,... while Korea′s infrastructure and high level of education stand out as advantages

  • compared to its global competitors. Song Ji-sun, Arirang News.

Foreign direct investment is one source of creating jobs.

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韓国の自由経済水域は東アジアFDIの中心地を目指す KFEZ 비즈스니 (Korea′s Free Economic Zones aim to become center of FDI in East Asia KFEZ 비즈니스)

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    Max Tsai に公開 2021 年 01 月 14 日
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