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Welcome to KoreanFest.com
  General Information of Korea  
   Investor-Oriented Support System
All current laws and regulations related to FDI have been streamlined and incorporated into a single legal framework represented by the new Foreign Investment Promotion Act (FIPA), which took effect in November 1998. This will enable foreign investors to take advantage of one-stop service and uniform treatment. To Attract More FDI: South Korea is creating a business-friendly environment for foreign investors. Various incentives, inclu…
   World-Class Logistics Hub
Incheon International Airport, opened in March 2001, is equipped with state-of-the-art facilities and provides advanced traffic networks for its customers. With its strategic location, the new airport is poised to become a leading logistics and transportation hub in Northeast Asia. Expansion plans for the airport area include establishing a Free Trade Zone, International Business District and Special Economic Zone. Gwangyang Port, a log…
   Economic Outlook
Korea has been rapidly integrating itself into the world economy since the onset of the 1997 crisis. The Government has advanced a new paradigm that involves upgrading business practices to international standards, promoting human resources and technology development and enhancing institutional efficiency. * Cargo Volume and Trans-shipment Rate at Incheon International Airport [Unit: million tons] * Source: Incheon In…
   Social Welfare
Employment The employment structure of Korea has undergone remarkable changes since the beginning of industrialization in the early 1960s. In 1960, workers in the agricultural, forestry and fishery sectors accounted for 63 percent of the total labor force. However, this figure dropped to 7.3 percent in 2007. By contrast, the share of the tertiary industry (service sectors) grew from 28.3 percent of the total labor force in 1960 to 75.0 percent in 2007. …
   Education
Koreans have traditionally placed great importance on education as a means for self-fulfillment as well as for social advancement. Modern schools were first introduced in the 1880s. After the founding of the Republic of Korea in 1948, the government began to establish a modern educational system, making six years of elementary school attendance mandatory since 1953. Today, Korea boasts one of the highest literacy rates in the world. An emphasis on ed…
   Media
Newspaper and News Agencies The first edition of the Dongnipsinmun, [The Independent]. Launched on April 7, 1896, it was Korea's first privately-owned all-Hangeul newspaper The Korean press is now well over a century old. Korea's first modern newspaper, the Dongnip Sinmun (Independence Newspaper), was established in 1896 by Dr. Seo Jae-pil. The Dongnip Sinmum was a bilingual paper with 300 copies of four tabloid pages printed th…
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