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April 2nd, 2008
Seoul to subsidize foreign-invested companies
Foreign-invested companies can now receive government subsidies during the first half of 2008.
Seoul Metropolitan City government announced it would receive applications from such companies for subsidies until April 18.
The announcement came after the revising of a related law to ease the conditions for subsidies and improve the whole incentive process. The city government will provide the promised subsidies either in the first or the latter half of the year, depending on the request of the eligible company.
The strategic areas that Seoul plans to assist are digital content, information and communication, biotechnology, nanotechnology, finance, business, service and fashion.
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