Foreigners Increasingly Set Up Investing Firms

 KoreaTimes 2000.07.06

The setup of foreign investing companies has been increasing sharply this year.

According to the Small and Medium Business Administration (SMBA) yesterday, the number of investing firms set up by foreigners reached eight at the end of June this year.

Of them, six are newly established this year.

Three were set up by U.S. concerns while the other three were founded by Japanese.

The foreign investing firms have 65.1 billion won in capital, sharing 3.5 percent of the entire capital by the 136 total investing companies.

The SMBA said a growing number of foreign companies have begun to opt for direct investment through the establishment of investing firms, encouraged by eased investment restrictions and growth on the KOSDAQ market, although they previously preferred indirect investment.