SOUTH KOREA

Foreign Investors to Get Tax Breaks: The government is expanding tax benefits to foreign investors to promote investment in eight industries. Sectors slated for tax exemption include high-speed elevators, automated storage systems, high-tech textile machinery, optical and specialized cables, core parts of high-definition television and displays such as liquid crystal displays. In addition, the number of technology imports for which South Korean companies will be able to receive tax exemptions will expand--an effort to encourage imports of advanced technologies. South Korea will deregulate port facility operations, tree nurseries, logging, liquor wholesaling, trade brokering, charcoal retailing, feed wholesaling and aircraft leasing.