Under the new law - which was passed on May 1 - foreign investors will be exempt from paying tax on interest income and capital gains on holdings of South Korean monetary stabilization bonds.
It is hoped that the tax cut will boost investment by up to KRW12 trillion (USD10bn).
Th bill will also allow South Korean bonds to be included in Citigroup Inc's World Government Bond index; a guide which is tracked by investors world-wide.
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