The terms used in this Act are defined as follows: <Amended on Aug. 18, 2020>
1. The term "real estate" means land or building;
2. The term "real estate, etc." means real estate or a right to acquire real estate;
3. The term "party to transaction" means a buyer and seller of real estate, etc., including a foreigner, etc. defined in subparagraph 4;3-2. The term "party to a lease contract" means the lessor and lessee of real estate, etc., including the foreigners, etc. defined in subparagraph 4;
4. The term "foreigner, etc." means any of the following individuals, corporations or organizations:(a) An individual who is not a national of the Republic of Korea;(b) A corporation or organization incorporated under the statutes or regulations of a foreign State;(c) A corporation or organization at least a half of whose employees or members fall under item (a);(d) A corporation or organization at least a half of whose executive officers, such as managing general partners or directors, fall under item (a);(e) A corporation or organization in which persons falling under item (a) or corporations or organizations falling under item (b), hold at least a half of its capital or a half of the voting rights;(f) A foreign State;(g) An international organization prescribed by Presidential Decree.