FOREIGN INVESTMENT PROMOTION ACT OF KOREA INTRODUCTION Details of Enactment and Amendment – Enactment: This Act was enacted on September 16, 1998 as Act No. 5559, repealing the previously enforced Foreign Investment and Foreign Capital Inducement Act, in order to widely ease the regulations and restrictions on investment by foreigners and expand the tax incentives therefore, and to reorganize from all sides the systems related with foreign investment such as designation of foreign investment zones. – Amendment: This Act has
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