(MENAFN- Qatar News Agency) More than half of foreign companies operating in South Korea are dissatisfied with the country's investment environment due to a volatile economy and lack of policy consistency, a poll showed Monday.
The same poll showed that there were more firms that anticipated a decrease in foreign investment this year than those that expected an increase, according to (Yonhap) news agenc
According to the recent poll of 201 foreign companies by the Korea Chamber of Commerce and Industry (KCCI), 55% of the respondents said that the local investment climate was unfavorabl
A lack of policy consistency was cited as the biggest reaso
Other key causes included factors contributing to economic volatility, excessive regulation, tense relations with labor unions and negative public sentiment toward conglomerate
Some 53% said business-related government legislations would have negative impact, with 49.8% saying they would consider scaling back their investments should the regulations toughe
The most burdensome legislation cited by the foreign firms was the revision to ordinary wage calculations and reduction of working hours
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