(1) The Minister of Trade, Industry and Energy and the competent Minister may require foreign investors, foreign-invested companies, the president of the Korea Trade-Investment Promotion Agency, the heads of the relevant financial institutions, and other interested parties to report on matters deemed necessary concerning foreign investment under this Act. <Amended on Mar. 23, 2013; Jan. 27, 2016>
(2) The Minister of Trade, Industry and Energy may require subordinate public officials or the heads of the relevant administrative agencies to conduct investigations into the following, where deemed necessary for the enforcement of this Act: <Amended on Mar. 23, 2013>
1. Matters concerning the introduction, use, and disposal of the funds (including objects of investment; hereafter in this Article the same shall apply) and capital goods invested by foreigners;
2. Deleted; <Jan. 27, 2016>
3. Matters concerning the implementation of the matters permitted or reported under this Act.
(3) To conduct an investigation under paragraph (2), the subject of the investigation shall be notified of the investigation plan which includes the time and date, grounds, details, etc. by no later than seven days prior to the investigation; provided, the foregoing shall not apply where an emergency or the giving of a prior notice can defeat the purpose of such investigation due to destruction of evidence, etc.
(4) Anyone who conducts an investigation under paragraph (2) shall carry a certificate of identification indicating his/her authority and produce it to relevant persons, and deliver a document stating the name, time of access, aim of access, etc. at the time he or she gets access, to relevant persons.
(5) In any of the following cases, the Minister of Trade, Industry and Energy may issue a corrective order or take other necessary measures against the relevant foreign investors, foreign-invested companies, person who has introduced or used funds or capital goods invested by a foreigner into Korea, and any other interested party: <Amended on Mar. 23, 2013; Jan. 27, 2016>
1. Where a person fails to implement the matters permitted or reported under this Act, or where what the person has implemented is illegal or unjust;
2. Where a person has discovered any of the facts provided in the subparagraphs of Article 4 (2).
(6) Where a foreign investor (including a foreign investor that fails to file for registration under Article 21 (1)) falls under any of the following, he or she shall transfer the stocks, etc. he or she owns to a national of the Republic of Korea or a Korean corporation or enterprise within six months from the day referred to in the following; provided, the period for transfer may be extended up to six months with approval of the Minister of Trade, Industry and Energy where there is any unavoidable cause: <Added on Jan. 27, 2016; Feb. 4, 2020>
1. Where he or she fails to comply with a corrective order issued under paragraph (5), the day on which the period for complying with such corrective order expires;
2. Where permission is revoked or registration is canceled under Article 21 (4) 3, the day on which the permission is revoked or the registration is canceled.
(7) Where a person who has introduced funds and capital goods into Korea for foreign investment fails to clear the capital goods through the customs or fails to take the custody thereof within the storage period prescribed by the Customs Act, the head of the customs office may sell them, as prescribed by Presidential Decree. <Amended on Jan. 27, 2016>[This Article Wholly Amended on Jan. 30, 2009]