Over the past six decades, the relationships between Korea and foreign businesses have advanced from rudimentary investment in low-end manufacturing industries to the establishment of high-level research and development centers.
Although the Korean market is relatively small compared to giants like China and Japan, and more regulated than free trade havens like Hong Kong and Singapore, foreign companies see Korea as a more crucial location for product development because of well-educated researchers and cutting-edge IT infrastructure.
In the 1960s and 1970s, the amounts of foreign investment in Korea were relatively small by design and could mostly be found in manufacturing. Under Park Chung Hee, foreign investment was valued mostly for the expertise and technology local companies could gain from it.
For full article, see Joongang Daily.