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PACIFIC WATCH

South Korea

January 17, 1994|From Times Staff and Wire Reports

Limits on Foreign Ownership to Remain: Finance Minister Hong Jai-hyung said in a radio report that the government will keep in place a regulation that limits the stake overseas investors may take in local companies to 10%. In an interview with the state-run KBS radio last week, Hong said the ceiling will remain intact for at least the first six months of this year. However, Hong declined to say when the adjustment will be made. The ministry has promised the U.S. government that the limit on investment will be relaxed this year. However, South Korean officials have been reluctant to raise the ceiling, saying that an increase in the influx of overseas funds will contribute to inflation.

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