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Japan and South Korea agree to a bilateral accord
Japan and South Korea have agreed in principle to a bilateral accord aimed at facilitating direct investment to enhance economic ties between the two nations.
Japanese government officials said the investment agreement will be implemented possibly next summer.
The accord would mandate that both nations provide protective steps for direct investment transactions, such as owning companies or setting up subsidiaries or affiliates in the other country.
Japanese industry sources raised doubts over the effectiveness of the agreement since labor-management issues have been a major source of concern among Japanese companies in promoting direct investment in South Korea.
23/12/01 0:10:45 | ABC Radio Australia News
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