South Korea to Expand Free-Trade Zones to Boost Exports Amid COVID-19 Pandemic, Report Says
South Korea will expand its free-trade zones in an effort to boost exports during the COVID-19 pandemic, according to an April 6 report from the Yonhap News Agency. The measures will expand the size of the Incheon International Airport free-trade…
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zone and the Busan Port by about 10% and 30%, respectively, the report said, and comes as the country’s exports decreased for 14 consecutive month before a slight rebound in February. The zones provide companies with eased regulations and customs benefits.