skipnavigation

go contents

Living areas explanation

This information is drafted as of October 15, 2014.
save print bookmark sendEmail close
 Registration
A foreign investor or a foreign-capital invested company, shall file the registration of a foreign-capital invested company with the president of the Korea Trade Investment Promotion Agency or the head of a foreign exchange bank according to the procedures as prescribed under the relevant Acts and subordinate statutes, where he (she) completed the payment of the object of investment or acquired the existing stocks or stakes. The rise of any pre-defined reason after registration may cancel a registration:
Registration
Cause for registration
- A foreign investor or a foreign-capital invested company, where such investor or company falls under one of the following cases (including where such investor or company comes to fall under one of the following cases due to capital increase), shall file the registration of a foreign-capital invested company within 30 days from the day on which the relevant cause for registration occurs (Article 21.(1) of the 「Foreign Investment Promotion Act」and Article 27.(1) and Article 40.(2) of the Enforcement Decree of the same Act):
1. Where such investor or company has completed the payment of the object of investment;
2. Where such investor or company has acquired the existing stocks or stakes already issued by a Korean corporation or a company run by a national of the Republic of Korea (referring to having paid for the existing stocks);
3. Where such investor or company has acquired stocks or stakes using convertible bonds, exchangeable bonds, stock depositary receipts, and such other similar instruments as may be converted into, available for the acceptance of, or exchanged for stocks or stakes; and
4. Where such investor or company has completed making a contribution to a non-profit corporation. (However, if the non-profit corporation fails to satisfy the requirements set forth in each subparagraph of Article 2.(5) of the 「Enforcement Decree of the Foreign Investment Promotion Act」, it shall make registration within thirty days from the date on which such requirements are met).
Registration of changes
Causes for alteration registration
- Where any of the following reasons for alteration registration occurs to a registered foreign-capital invested company, such company shall file a request to register the alteration within 30 days from the day on which a cause for the alteration registration has occurred (Article 27.(2) and Article 40.(2) of the Enforcement Decree of the 「Foreign Investment Promotion Act」):
Application for registration of changes
- A person intending to register changes regarding a foreign-capital invested company, shall enclose the following documents with an application form for registration of changes (Form no.17 of the Enforcement Rule of the 「Foreign Investment Promotion Act」) and submit to the president of the Korea Trade Investment Promotion Agency or the head of a foreign exchange bank (Article 17.(2) of the Enforcement Rule of the 「Foreign Investment Promotion Act」):
Issuance of registration certificates
- Where the conditions meet the criteria for registration of changes, the foreign-capital invested company shall be issued a certificate of registration (Form no. 18 of the Enforcement Rule of the 「Foreign Investment Promotion Act」) (Article 17.(3) of the Enforcement Rule of the 「Foreign Investment Promotion Act」).
Permission cancellation & registration cancellation
Reason for permission cancellation & registration cancellation
- Where a foreign investor or a foreign-capital invested company falls under one of the following cases, the president of the Korea Trade Investment Promotion Agency or the head of a foreign exchange bank may revoke the permission or cancel the registration thereof (Article 21.(3) of the 「Foreign Investment Promotion Act」 & Article 30.(2)·Article 40.(2) of the Enforcement Decree of the 「Foreign Investment Promotion Act」):
1. Where a foreign-capital invested company which was registered has gone out of business or has not conducted its business activities for two consecutive years or more;
2. Where a foreign-capital invested company which was registered or a foreign investor who was granted permission has not complied with a correction order of the Ministry of Trade, Industry and Energy or has not carried out other necessary measures;
3. Where there are reasons for the dissolution of a foreign-capital invested company;
4. Where a foreign investor or a foreign-capital invested company has applied for the cancellation of registration;
5. Where a foreign investor has conveyed or lent the registration certificate of a foreign-capital invested company to another person;
6. Where a foreign investor has effected the registration of a foreign-capital invested company in disguise of the payment of the object of investment; and
7. Where a foreign investor has conveyed all of his stocks to a Korean national or a Korea corporation or loses part or all of his stocks, etc., due to capital reduction in a foreign-capital invested company.
.