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Foreign Investment Promotion Act — Article 14-3 (Monetary Rewards for Inducing Foreign Investment)

외국인투자 촉진법 제14조의3

This English translation is based on the Korean text effective 2023-12-14. The Korean law has since been amended (current version effective 2026-01-02) — check the Korean original.

(1) The head of a local government may grant monetary rewards to a person recognized as having greatly contributed to inducing foreign investment in proportion to the outcomes of inducing foreign investment, as prescribed by ordinance of the local government.

(2) The head of a public institution may grant monetary rewards to a person recognized as having greatly contributed to inducing foreign investment according to the standards established by the Minister of Trade, Industry and Energy, after deliberation and decision by the Foreign Investment Committee in proportion to the outcomes of inducing foreign investment; provided, no monetary rewards shall be paid in addition to the monetary rewards provided under paragraph (1). <Amended on Mar. 23, 2013>[This Article Wholly Amended on Jan. 30, 2009]

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