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Foreign Investment Promotion Act — Article 16 (Foreign Investment Promotion Offices)

외국인투자 촉진법 제16조

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) Central administrative agencies, the Special Metropolitan City, Metropolitan Cities, the Special Self-Governing City, Dos, the Special Self-Governing Province, and Sis/Guns/Gus (Gus refers to autonomous Gus) may each designate the office in charge of foreign investment as a foreign investment promotion office or establish a foreign investment promotion office in order to efficiently provide support for foreign investment by encouraging the smooth handling of civil petitions concerning permission, authorization, license, approval, designation, cancellation, report, recommendation, consultation, etc. related to foreign investment (hereinafter referred to as "permission, etc."), by supporting swift handling of grievances of foreign investors and foreign-invested companies and by establishing a cooperative system among related institutions. <Amended on Apr. 5, 2010; Dec. 11, 2012>

(2) When a foreign investment promotion official receives a request for cooperation by a relevant administrative agency, the Investment Support Center, or the grievance committee with respect to civil petitions concerning foreign investment, he or she shall cooperate in a positive manner. <Amended on Apr. 5, 2010>

(3) Except as provided in paragraphs (1) and (2), matters necessary for the functions and business of the foreign investment promotion office shall be prescribed by Presidential Decree.[This Article Wholly Amended on Jan. 30, 2009]

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