The government will foster the halal and kosher food industries and allow the name of conglomerates to be used when naming professional sports stadiums as part of efforts to boost private investment.
 
The decision came during the government’s tenth meeting on promoting trade and investment chaired by President Park Geun-hye on Wednesday.
 
The government will provide tax credits for five percent of investments conglomerates and other firms make in venture firms.

A large-scale culture complex that features a premium outlet, theme park and K-pop culture will be created in Uijeongbu and a virtual reality cluster will be set up in Sangam Digital Media City.
 
The government will also institutionalize the production, distribution and follow-up management process for pets to foster related businesses into new industries.
 
The government expects the latest steps will result in investments of some three-point-six trillion won and create related jobs.