The South Korean government is actively pursuing regulatory reforms to entice multinational corporations to relocate their Asia-Pacific headquarters to Korea from Singapore and Hong Kong to bolster the nation's supply chain and bilateral relations. The government will continue to conduct labor reforms and other deregulatory measures to satisfy global standards, as the president clarified that the government's role is to help businesspeople work more freely.
The American Chamber of Commerce in Korea (AMCHAM) has suggested to include targeted incentives, expatriate support, and easing regulations unique to Korea, such as the workplace safety act, cloud service restrictions, and frequently changing tax laws.
Korea stands at a significant juncture to establish itself as a regional headquarters, offering economic strengths and expertise in technology. Collaboration between government and foreign chambers is emphasized to foster an attractive business environment.
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