And economy－related ministries announced
plans to lift regulations... seeking to foster growth engines through foreign
investment. Our Song Ji－sun has the details. Korea is gaining recognition as an attractive
investment destination. But even as more investors acknowledge Korea′s
importance， they also say there′s plenty of room for improvement. According to a survey by the Korean Chamber
of Commerce， more than half of the foreign investors surveyed said Korea has increased
in significance， espec
ially after it agreed on a free trade pact with China. However， they also said the investment environment
is not any more favorable than before. That′s why Seoul is working to remove regulations
and open doors to more investment. With the new deregulation package， Seoul
is seeking to attract 30－billion dollars in investment by 2017， a marked increase
from the 19－billion dollar record set last year. Starting next month， and for the first two
years since their founding in Korea， companies with for
eign investment will no longer have
to limit the number of foreign employees to less than 20 percent of the workforce. In addition， foreign start－ups seeking
to register a business will soon face less paperwork. The lifting of other regulations will give
foreign companies opportunities to develop medical cosmetics and own airport maintenance
services. In addition to easing regulations for foreign
investors， the government will work toward fostering new growth engines on the domestic
front by sup
porting the convergence of industries like healthcare and financial technology. As a first step， the related ministries
will help start－ups expedite the process of turning their ideas into products. ″The latest set of deregulation moves is
aimed at improving efficiency... and creating a greater synergy effect among government
agencies and ministries. To do that， the government plans to remove
redundant processes and emphasize collaboration. Song Ji－sun， Arirang News.″
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