South Korean Pest

Moreover, President Lee is a strong devotee of bare(a) trade agreements (Fats) between foreign countries, and siemens Korea now has Fats with the European Union, the joined States of America, and the SEAN countries. The current president Implemented new legislation to make South Korea more attractive for foreign investors. It will, for example, lower corporate tax order and reduce administrative restrictions on business operations and investment. Furthermore, South Korea has a number of incentives to make foreign investment more at-attractive. These incentives are tax support, Cash take into account, Site jam support, and other sup-port. A.Tax support When foreign companies tack together certain requirements, Income and corporate tax from earned Income, business Income, dividend Income, technology payments and habit du-titles on capital goods can be either reduced or be subject to dispensation In accordance with the Restriction of Special receipts Act. B. Cash grant When a f oreign investor meets certain criteria, local and/or national government can offer a cash grant when the investor wants to build a new plant for example. These criteria are e. G. The creation of jobs, the location of the new plant, if the investment intervenes with lo-cal investment etc. C. Site locationSouth Korea provides so called superfluous Investment Zones (Fizz). These are to attract foreign Investors/companies. There are cardinal types of Fizz Complex and Individual. The complex type Is for small and medium size firm wear as the individual type Is for queen-sized corpora-tools with large Investments. The requirements are to be found In the appendices. When a foreign go with purchases or leases a piece of land or real-estate owned by the gob-ornament of South Korea, the company can apply for reduction or dispensation of the term of a contract payment. However, the company must meet certain criteria. These are also to be found in the appendices.