On 9 May 2023, SK GVT proposed to revise foreign investment rules.
- SK GVT proposed to revise the Enforcement rules of foreign investment promotion act.
- Amendments aim to simplify documents required for reporting foreign investment.
- Create a simplified investment overview form, which consists only of matters required when reporting foreign investment using unappropriated earned surplus.
- Ask to fill in the import declaration number instead of resident/foreigner registration number in the application form for confirmation of in-kind investment completion.
- Improve terminology in relevant forms and guidelines on how to fill out the forms.
- The consultation is open to the public until 19 June 2023.