The article introduces exhaustively 1998 Law of South Korea on Promotion of Foreign Investment(hereinafter referred to as 1998 Law on Foreign Investments)while also touches upon historical change and development of sy...The article introduces exhaustively 1998 Law of South Korea on Promotion of Foreign Investment(hereinafter referred to as 1998 Law on Foreign Investments)while also touches upon historical change and development of system of direct investments by foreigners in South Korea In a great number of laws pertinent to direct investments by foreigners in South Korea,1998 Law on Foreign Investments is one of the most important legal documents In the course of amendment,the fundamental principle followed changed from the principle of "regulation and administration"to one of"assistance and promotion" It mainly deals with system of application and report of investments by foreigners In order to speed up processes of various acceptance/permit formalities,the law provides that within KOTRA,a Center for Assistance of Foreign Investments shall be instituted and One-stop service system shall be set up Besides,the tax preferential system has been expanded in the said law,defining clearly regions where investments by foreigners may be made and financial and economic assistance central government shall provide to local governments on purpose to encourage the latter to implement measures for absorbing foreign investments The author points out that against the background of global economic integration,1998 Law on Foreign Investments serves as a new starting point of South Korean government to seek development in ever fierce competition of international capital展开更多
文摘The article introduces exhaustively 1998 Law of South Korea on Promotion of Foreign Investment(hereinafter referred to as 1998 Law on Foreign Investments)while also touches upon historical change and development of system of direct investments by foreigners in South Korea In a great number of laws pertinent to direct investments by foreigners in South Korea,1998 Law on Foreign Investments is one of the most important legal documents In the course of amendment,the fundamental principle followed changed from the principle of "regulation and administration"to one of"assistance and promotion" It mainly deals with system of application and report of investments by foreigners In order to speed up processes of various acceptance/permit formalities,the law provides that within KOTRA,a Center for Assistance of Foreign Investments shall be instituted and One-stop service system shall be set up Besides,the tax preferential system has been expanded in the said law,defining clearly regions where investments by foreigners may be made and financial and economic assistance central government shall provide to local governments on purpose to encourage the latter to implement measures for absorbing foreign investments The author points out that against the background of global economic integration,1998 Law on Foreign Investments serves as a new starting point of South Korean government to seek development in ever fierce competition of international capital
