South Korea to Allow Tobacco Investment

[Robert Weissman <rob@essential.org>]

South Korea's Ministry of Finance and Economy said it will fully deregulate
its retail oil sector as well as its property market and other
sectors...Meanwhile, foreign investors will be partially able to manufacture
tobacco products in South Korea beginning July 1, while the gambling
industry will be partly  deregulated beginning May 1, 1999....The foreign
direct-investment plan is part of the government's five-year initiative to
liberalize its economy. On April 1, 10 sectors were completely deregulated,
including the securities industry and the golf-course industry.

Source: "South Korea to Deregulate Its Oil and Property Sectors", Dow Jones
Newswires, 7 May 1998

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