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IEA RECOMMENDS KOREA SCRAP REGULATIONS ON FOREIGN INVESTMENTS.
AsiaPulse News, June, 2002
SEOUL, June 5 Asia Pulse - The International Energy Agency (IEA) commended South Korea for diversification of energy supply and market reforms, but called for more attention to energy efficiency in its review of Korea's energy policies Wednesday.
This is the third time the IEA has reviewed Korea's energy policies and the first time since Korea became an IEA member in March.
"Korea is highly dependent upon external sources of energy, but the country has managed successfully to diversify its supply," said visiting Executive Director of the IEA Robert Priddle.
In the report, he recommended the Korean government scrap ceilings and regulations on foreign investments and ban price distortions by revising tax policies.
The Ministry of Commerce,...
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