The government plans to open up more local industries to foreign companies and cut red tape in greenbelt land use in its efforts to boost sagging foreign direct investment and revive the economy.

The plans were revealed after the third ministerial meeting on regulatory reform presided over by President Park Geun-hye at Cheong Wa Dae on Wednesday.

Park called for a market-friendly regulatory environment, which she hoped would lead to job creation and growth.

bbabo.Net