Overseas Expansion Companies' 'Return to Domestic Market' Requirement Relaxation Bill Passed

On the 1st, the plenary session held at the National Assembly passed the partial amendment bill to the Public Officials Ethics Act. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Lim Chun-han] The target industries for overseas companies returning to Korea will be expanded, and the requirements will be relaxed.

On the 1st, the National Assembly passed the "Amendment to the Act on Support for Overseas Companies Returning to Korea," which relaxes the support requirements for overseas companies returning to Korea.

This bill expands the target industries for support to "quarantine and immunity-related industries and other industries prescribed by Presidential Decree," and relaxes the requirements for reducing overseas operations in advanced industries.