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The Korean government has unveiled a set of measures to boost the regional economy.
It includes easing regulations and providing stronger incentives... so that regional governments
can attract more corporate investment. Arirang's Hwang Ji-hye has the details. The
Korean government is on its way to generating momentum for the nation's economic recovery,...
and this time,... the focus is on regional economies.
After a meeting led by President Park Geun-hye to foster trade and investment on Wednesday,...
the government laid out a set of measures to boost the regional economy.
The finance ministry said... the government will focus on easing regulations and expanding
incentives... to bolster corporate investment. Through the measures,... the construction
of commercial facilities will be allowed in areas... freed from "green belt" development
restrictions. While the government designates certain areas
as green belts to protect forests and prohibit reckless development,... the areas are only
used for home construction, even after the restrictions are scrapped.
Companies that move their offices to outside of the capital area will also have their corporate
taxes eased for a longer period of time. Besides easing regulations and boosting incentives,...
the government also said that it will provide support for business projects led by more
than 50 regional development blocs. The projects were proposed by local governments
to foster new growth engines. The government expects the set of measures
to boost investment in regional economies... by around 13-billion dollars.
Hwang Ji-hye, Arirang News.