PROSPECTS OF DEVELOPMENT FREE TRADE ZONES IN SOUTH KOREA

There is a great deal of potential for development free trade in Korea, as the country has a number of advantages that could make it a strong candidate for such a trade agreement. Korean Free Economic Zones are designed to actively attract foreign investment by improving the business environment and living conditions of foreign-invested companies and by maximizing the autonomy and investment incentives of companies through deregulation. The prospects of further development of free trade in Korea are promising. There are various policies to promote free trade, such as reducing tariffs and non-tariff barriers, improving customs procedures, and providing support for small and medium-sized enterprises to expand their export.