Act on Report on Real Estate Transactions — Article 7 (Principle of Reciprocity)

The Minister of Land, Infrastructure and Transport may prohibit or restrict an individual, corporation or the government of a State that prohibits or restricts a national of the Republic of Korea, a corporation or organization incorporated under the statutes and regulations of the Republic of Korea, or the Government of the Republic of Korea from acquiring or transferring land in its territory, from acquiring or transferring of land in the territory of the Republic of Korea, as prescribed by Presidential Decree; provided, the same shall not apply where such acquisition or transfer is necessary to implement a treaty concluded in accordance with the Constitution and any statute.