Summary of New Changes in 2001

Korea Times (Seoul, Korea), January 1, 2001 | Go to article overview

Summary of New Changes in 2001


The following are the systems that the country will create or change next year in the sectors of finance, fair trade, trade, information and telecom and broadcasting.

Finance: The second stage of foreign exchange liberalization takes effect Jan.1, allowing considerable freedom to transfer remittances abroad.

However, any remittances exceeding $10,000 will require a report to the National Tax Administration and the Customs Service, while those exceeding $50,000 will need to get the Bank of Korea's prior approval.

Restrictions on foreign travel expenses will also be freed up, but any amount exceeding $10,000 will require customs notification. Travelers with more than $50,000 will be required to report to the central bank, which will notify the National Tax Service.

Limits on expenses related to extended foreign residence and study will also be lifted, but those going over $100,000 annually will need approval from the Bank of Korea beforehand. Tax authorities will examine the funding source for amounts over $100,000, to prevent overseas money laundering and tax evasion.

Deposits in financial institutions abroad will also be liberalized. But one-time deposits exceeding $50,000 will be reported to the central bank, while those exceeding $10,000 per year will be reported to the tax office.

The depositors will be required to make notifications of their balances at least once a year.

Fair Trade: From April 1, there will be an overall limit on capital investment. Those firms belonging to large conglomerates will be barred from holding stakes in other companies that exceed 25 percent of their capital. However, exceptions will be made for acquiring new shares and stock dividends.

Listed firms will be allowed to hold 30 percent of stakes in their affiliates. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Summary of New Changes in 2001
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.