However, lowered value of Korean Won helps in price competition abroad. On the other hand, it means heavier burden on the import of production equipment and key components which Korea still depends on from foreign countries. From January 1999, under pressures from WTO and rules about admission to the OECD, these items were excluded from the list of products eligible for government import protection, and Korean companies are now facing free competition with foreign brands in Korea's domestic market. At the same time, it is hoped this open market policy will activate the expansion of sales and technology development from Korean companies. However, in 1999, a slow turn-on towards the increase of domestic market volume and export is being observed in all industry sectors.
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