Invest KOREA

"Yes, a local government can provide cash grants for foreign direct investment based on Article 14-2 (1) of FIPA.

Article 14-2 (1) of FIPA regulates that cash grants can be provided to foreign direct investment by central and local governments in certain cases. More specifically, the Article states that when foreign direct investment is made to newly install or expand factory facilities, etc. to operate a business prescribed by Article 121-2 (1) 1 of the Restriction of Special Taxation Act, central and local governments can provide the funds needed for the purpose prescribed by Presidential Decree such as establishment of a factory facility to the relevant foreigner. As such, it is made clear that a local government is eligible to provide cash grants for foreign investment.

In addition, Article 14-2 (4) of FIPA states that a local government may prescribe matters concerning the determination on the provision of cash grants, the method for calculating limits on cash grants, procedures for negotiating the investment support with foreigners and other necessary matters by ordinance, except otherwise expressly prescribed in Paragraph (3) of the same Article. In this regard, the matters to be prescribed by local government ordinances are not whether cash grant will be provided or not, but the method and procedure for provision of cash grant as prescribed by Article 14-2 (3), the method and procedure required for payment of cash grant, etc. depending on regional circumstances, etc. Also, because Article 14-2 (1) states a legal ground for providing cash grants for foreign investment, it cannot be said that cash grants can be provided only when it is stipulated again by ordinances."

"In this case, the alien can create, manage and operate a private qualification.

The Constitution of the Republic of Korea states that “the status of aliens shall be guaranteed as prescribed by international laws and treaties” (Article 6 (2)), and in accordance with this principle, many laws treat aliens as equally as Korean nationals. As a rule, in laws other than those related to basic rights recognized only to Korean nationals such as voting rights and political rights including the right to hold public office, it is interpreted that there are no restrictions on aliens unless there are explicit regulations imposing restrictions on them. Also, Article 17 (1) of the Framework Act on Qualifications states that “any” corporation, organization or individual other than the State may create, manage and operate a private qualification in a sector other than those prescribed by its subparagraphs, and Article 23 (4) of the Enforcement Decree of the same Act stipulates that the minister of the competent ministry shall issue a registration certificate if the requested private qualification does not fall under the banned categories. In addition, Article 18 of the Act does not include aliens in persons disqualified as a private qualification manager, which means that aliens are not disqualified to become private qualification managers who can create, manage and operate private qualifications. Moreover, by allowing everyone to create, manage and operate private qualifications and receive government accreditation on the qualifications, the purpose of the Framework Act on Qualifications is to ensure that private qualifications are invigorated and their credibility are enhanced, thereby improving the socio-economic status of people through promoting lifelong vocational competency (Article 1). In addition, the legislative objective of the Act is opening the qualification system to individuals so that persons with skills and talent in a particular field can be given an opportunity to succeed by practicing expertise in the field and ultimately contribute to the diversification of society and creation of an open system. Considering this, there is no reason to restrict an alien from creating a private qualification in accordance with the Framework Act on Qualifications. Furthermore, the fact that the competent minister may manage and supervise the management and operation of private qualifications by private qualification managers regardless of whether they are domestic persons or aliens should be taken into account as well. For example, where a person who registers, manages and operates private qualifications in accordance with the Framework Act on Qualifications violates the Act, the competent minister may issue an order requiring the relevant private qualification manager to correct the relevant offense (Article 18-2), and may suspend the relevant qualification if the manager fails to comply with the corrective order (Article 18-3 (1) 3). And if necessary, the competent minister may provide instructions necessary for the guidance and supervision of registered qualification-related affairs under his/her jurisdiction, by requiring the registered qualification managers to report on their business or submit data, etc. (Article 18-5). "

Foreigners who cannot speak Korean can call 112 or 119 or use the bbb free interpretation service around the clock. – When a foreigner calls the 112 emergency number, a three-way call is set up with the caller, 112 personnel and interpreter. – In the case of fire or an emergency medical situation, you can call the Safety Report Center at 119. You can report the emergency through the same interpretation services that are provided at 112. – To use bbb Korea's service, call their representative number at 1588-5644 and select the extension number of the language that you speak, and you will be connected to the volunteer interpreter‘s cell phone (services in 20 languages). ※How to use the bbb mobile application – Connect to the smartp application of bbb, and select the extension number of the language that needs interpretation. Without going through the automatic response system, you are immediately and conveniently connected to the mobile phone of the volunteer that provides interpretation for that language. ※ Emergency Ready application: Disaster and emergency alert for foreigners – The Emergency Ready application was developed by the Ministry of Interior and Safety. it can be used to make a 119 report or receive various push notification services in English and Chinese, including information on locations of emergency medical facilities, police stations, fire stations, embassies, and emergency situations regarding COVID-19.

Korea has the ’volume-based waste fee’ system, under which a fee is imposed based on the amount of waste. Waste is sorted out and recyclables are separated and then disposed of. Waste should be disposed of in a designated area in a designated bag according to the type of waste. 1. General waste (for disposal) – Unrecyclable waste should be disposed of in a designated bag. – Volume-based waste bags can be purchased at supermarkets or discount marts nearby. The color and size of general waste bags and food waste bags differ by disstrict, so make sure to purchase waste bags that match your district. 2. Recyclable garbage (for recycling) – Paper, bottles, scrap metal, cans, vinyl, plastic, etc. can be recycled, and must be disposed of in the designated collection area for recyclables. Some llarge apartment complexes have a day of the week designated for collection of recyclables. 3. Food waste – When disposing of food waste, foreign substances and liquid must be removed. Then the waste must be put in the food waste collection bin or discharged in a bag exclusively for food waste. – Each local government has a volume-based food waste collection system based on RFID. ※ General waste that can be mistaken as food waste – The following items must be placed in a general waste bag: 4. Large-sized waste (furniture, home appliances, etc.) – Large-sized waste such as old furniture or electronic appliances that can no longer be used cannot be put in a volume-based bag. In such case, they are disposed of after reporting to the governing district. First, a sticker must be purchased at the district (dong) community center, apartment community center, or district (gu/ gun) webpage. After attaching this sticker, the item can be disposed of on the designated date for collection.

When a foreigner who has registered as an alien changes his/her place of stay, he/she must report change of place of stay to the head of the district (si/gun/gu or eup/myeon/dong) or the head of the immigration office governing the place of stay within 14 days from the date of move-in. ◎ Report period: Within 14 days from moving to the new place of stay ※However, beginning from December 10, 2020, a report must be made within 15 days from the date of move-in (revised Immigration Act). ◎ Documents to be submitted: – When applying in person: Passport or alien registration certificate, integrated application form (Attached form 34 of the Enforcement Rules of the Immigration Act), document proving place of stay – If an agent is applying: Power of attorney, agent's ID, family relations registration document or other document confirming family relations (for foreigners under the age of 17, his/her parent can report on his/her behalf) ※ When a foreigner that has made an alien registration does not report within 14 days from changing his/her place of stay, he/she shall be imposed a penalty of up to KRW 1 million for violating Article 36 of the Immigration Act.

The webpage of the Korea Association of Realtors shows a list of the global realtors in Korean, English, Japanese and Chinese. In addition, the Seoul city government webpage, and other webpages of each local government provide information on licensed real estate brokerages that use foreign languages. ※ In addition, there are various applications showing real estate offerings available on the market. – Zigbang: www.zigbang.com – Dabang: www.dabangapp.com – Hanbang: www.karhangbang.com – Naver Real Estate: land.naver.com ※ Real estate brokerage fee – The real estate brokerage fee is set according to the transaction amount. The rates also differ according to the regulations of the city or province. The webpage of the Korea Association of Realtors (www.kar.or.kr) has information on the real estate brokerage fee of each city or province. ※1. The real estate brokerage fee ceiling is the amount calculated by multiplying the transaction amount with the maximum rate. When that amount exceeds the ceiling, the ceiling is used as the brokerage fee. 2. In the case of brokerage of sale or exchange with transaction amount of at least KRW 900 mln, or lease of housing worth KRW 600 mln or more, the following provisions apply: A. Brokerage fee shall be within the following range. It shall be determined by the brokerage contract: (1) Sale or exchange of at least KRW 900 mln: 9/1000 of the transaction amount or less (2) Lease of at least KRW 600 mln: 8/1000 of the transaction amount or less

The major ones are Jeonse, monthly rent, and semi-Jeonse. 1. Jeonse – This is a lease method that is unique to Korea. A lump-sum amount is given to the owner of the house as a key money deposit. The tenant resides in the house for a certain period. After the contract period is over, he/she receives the full amount of the key money deposit from the owner. The Jeonse contract is usually for a term of two years (one year in the case of officetels), and it is prescribed in the law that the house owner cannot terminate the contract within two years unless the tenant so agrees. Thus, pursuant to the Housing Lease Protection Act, even if it is a one year contract, if the tenant wishes, he/she can reside in the house for two years. 2. Monthly rent – This is a lease contract in which the lessee pays a monthly rent to the lessor. In the case of a ‘rent with deposit‘, a certain amount is paid as a key money deposit along with a fixed monthly rent, while ‘rent with no deposit‘ refers to paying only the monthly rent. In general, in the case of monthly rent, a deposit is paid together with a monthly rent, and maintenance costs are paid in addition. 3. Semi-Jeonse – This is a mixed type of lease contract. In the above two cases, the full amount of the Jeonse deposit is given to the house owner in order to lease the house. Or, a monthly contract is established based on which a monthly rent is paid. In the case of semi-Jeonse, a certain deposit amount is paid, and a monthly rent is paid, and thus this is the same idea as the ’rent with deposit’. But at the point of renewing the Jeonse contract, if the landlord demands an increase in the Jeonse deposit, the additional Jeonse deposit can be paid by making a tantamount raise in the monthly rent.

Korean language institutes of major universities nationwide, as well as foreigner support centers and private educational institutes provide on/offline classes. 1. Offline classes – Seoul Global Center: http://global.seoul.go.kr – Incheon Free Economic Zone Global Center: www.ifez.go.kr – Busan Foundation for International Cooperation: www.bfic.kr 2. Online classes – Barunsori, National Institute of the Korean Language: www.korean.go.kr/hangeul/cpron/main.htm – KBS Let’s Learn Korean: http://rki.kbs.co.kr/learn_korean/lessons/e_index.htm – Talk to Me in Korean: https://talktomeinkorean.com 1. Offline classes – Institute of International Education, Kyung Hee University: www.iie.ac.kr – Korean Language Institute, Yonsei University: www.yskli.com – Korean Language Classes, Sogang University: http://korean.sogang.ac.kr – Korean Language Center, Korea University: http://klc.korea.ac.kr – Language Education Institute, Busan National University: https://lei.pusan.ac.kr – Korean Language Institute, Hansei University: http://www.hansei.ac.kr/kor/471/subview.do – Easy Korean Academy: www.edukorean.com 2. On/offline – Nuri, King Sejong Institute: www.sejonghakdang.org

Although foreign schools, foreign educational institutions, and Korea International School (Jeju Campus) have similar names, the classification, legal basis and entry qualifications are all different.

※ The Ministry of Education's general information site (www.isi. go.kr) has various information regarding foreign educational institutions, from foreign kindergartens to foreign schools, international schools, etc.

Foreigners residing in Korea can apply for credit card issuance, and the issuance criteria differs depending on the card company. ◎ Eligibility – Foreigners with an alien registration card employed in Korea ◎ Required documents – Document certifying income (for at least the past 3 months), labor contract, alien registration card ◎ Procedure for issuance – The credit card evaluation team conducts the document evaluation. When the applicant does not pass the evaluation, a credit card can be issued with a deposit as collateral. In the case of corporations, it is possible to apply for a credit card exclusively for foreign-invested companies (such cards are issued by Shinhan Bank, Hana Bank).