(1) The State, etc. may sell their land, etc. to a foreign-invested company, etc. by a negotiated contract, notwithstanding the relevant provisions of any Act falling under any subparagraph of Article 13 (1).
(2) Foreign-invested companies that may purchase land, etc. pursuant to paragraph (1) shall be limited to those that meet the minimum foreign investment ratio prescribed by Presidential Decree, and shall maintain the minimum foreign investment ratio for a period prescribed by Presidential Decree from the date of acquisition of the relevant land, etc.; provided, the same shall not apply in cases falling under any subparagraph of Article 13 (2).
(3) In selling land, etc. under paragraph (1) to a foreign-invested company, etc., where it is deemed impracticable for the purchaser to pay the purchase price in a lump sum, the payment deadline may be extended or the payment may be made in installments, as prescribed by Presidential Decree, notwithstanding Article 50 (1) of the State Property Act, Article 37 of the Public Property and Commodity Management Act, and Article 39 (3) of the Act on the Management of Public Institutions.[This Article Added on Feb. 4, 2020]