The Office of the Foreign Investment Ombudsman would like to inform you that the regulations on the move-in of the related parties of the foreign-invested companies located in a free economic zone have been eased thanks to the partial amendment of the relevant act.
The current 「Special Act on Designation and Management of Free Economic Zones」 has prevented a foreign-invested company located in a free economic zone from providing site and facilities to its related parties, imposing excessive regulations on its business activities.
Article 16 (6) 3 of the Special Act on Designation and Management of Free Economic Zones has been amended to exclude foreign-invested companies from the subject of related parties (enforced on January 9, 2024.)
A foreign-invested company located in a free economic zone is now able to provide land and facilities to its related foreign-invested companies, so that it is expected that the integrated operation of the site and facilities will lead to enhancing management efficiency.
If you need further information, please click here.