SANTIAGO, Chile, Jan. 20 (Korea Bizwire) — InvestChile, the public agency that promotes foreign investment in the country, wrapped up 2021 with a record US $28 billion in its project portfolio. This is the highest figure to date since the agency was founded five years ago, and represents a 25.1% increase over 2020. The projects [...]
SEOUL, Nov. 19 (Korea Bizwire) — Foreign investment companies registered in South Korea feel most uncomfortable about the government’s introduction of the new workplace disaster law and raising the minimum wage, a survey showed Thursday. The Korea Enterprises Federation, a major business lobby group, conducted a survey of 220 foreign investment companies with more than [...]
SEOUL, Nov. 2 (Korea Bizwire) — Foreign direct investment (FDI) pledged to the country has surged more than 5,000 times in 60 years, which helped play a key pillar of now Asia’s fourth-largest economy, the industry ministry said Tuesday. In 1962, a local carmaker reported receiving US$3 million in foreign investment, the first of its [...]
SEOUL, Nov. 28 (Korea Bizwire) — New foreign direct investment (FDI) pledged to South Korea has surpassed the previous record high, led by rising interest in the nation’s high-tech industries and startups in emerging sectors, government data showed Wednesday. South Korea received US$23.04 billion worth of FDI commitments as of Tuesday, already breaking last year’s [...]
CHUNCHEON, March 14 (Korea Bizwire) – Gangwon Province is prolonging the effective period of the Real Estate Investment Immigration Act at the Alpensia resort in Pyeongchang. The Real Estate Investment Immigration Act was part of a strategy to attract foreign capital investment and successfully host the 2018 Winter Olympic Games. In 2011, Alpensia was designated as one [...]
JEJU, Dec.10 (Korea Bizwire) – Accommodation facilities owned by foreigners are increasing on Jeju Island, where more than 10 million tourists from Korea and abroad visit every year. According to the local government, 20 properties with a total of 1,976 rooms were owned by foreigners as of September. Among Jeju’s total of 321 properties and [...]
SEOUL, July 1 (Korea Bizwire) – Foreign ownership of South Korean stocks has fallen below the 30-percent level for the first time in nearly four years as market heavyweights preferred by offshore investors underperformed small-caps this year, the nation’s bourse operator said Wednesday. The value of local stocks held by foreign investors was estimated at [...]
SEOUL, April 8 (Korea Bizwire) – To facilitate foreign investment in its Saemangeum project, the Korean government plans to ease related regulations concerning employment and usage of the land. On April 7, the Ministry of Land, Infrastructure and Transport and the Saemangeum Development Agency announced that a revised bill containing these changes had been approved. The [...]
SEOUL, Oct. 21 (Korea Bizwire) – In bringing about opposite results for its program to attract more foreign investment, the Korea Trade-Investment Promotion Agency (KOTRA) turned out to have given half of its incentives none other than to its employees, rather than granting it to the eligible outside candidates. According to National Assemblyman Lee Chae-ik [...]