South Korea will soften entry rules for business travelers in an effort to vitalize foreign investment in the nation's free economic zones, the government said Tuesday.

The revised rule grants rights to go through express immigration desks even to prospective investors who have not signed a formal investment contract, while the current rule permits only those who have already invested in the nation, officials told local media.

According to the Ministry of Knowledge and Economy, the revised rule will go into effect next month.

The special benefit will be offered to business people who have submitted or signed memorandums of understanding or letters of intent, even if no formal deal has been reached yet, a ministry official said.

Under the revised rule, prospective investors, who plan to invest 10 million or more U.S. dollars in manufacturing industry or 5 million or more U.S. dollars in distribution industry, may take advantage of entering through the express desks, the ministry said.

The revision is in line with the government's movement to attract more investment into free economic zones that the nation is currently constructing.

Source: Xinhua