(1) Except as otherwise provided in the statutes of the Republic of Korea, a foreigner may engage in various activities of foreign investment in the Republic of Korea without restraint.
(2) No foreigner shall be restricted from making any foreign investment prescribed in this Act, except in the following circumstances:
1. Where he or she threatens national security and public order;
2. Where he or she has harmful effects on public health and sanitation or environmental preservation or is against Korean morals and customs;
3. Where he or she violates any statutes of the Republic of Korea.
(3) The categories of businesses in which foreign investment is restricted in accordance with any of the subparagraphs of paragraph (2) and the details of restrictions shall be prescribed by Presidential Decree.
(4) Where the head of a relevant administrative agency restricts foreign investment, such as treating foreigners or foreign-invested companies unfavorably compared to nationals of the Republic of Korea or Korean corporations or enterprises or charging additional liabilities to foreigners or foreign-invested companies, in statutes and regulations other than this Act, public notices, etc., the Minister of Trade, Industry and Energy shall combine and publicly announce the details thereof each year, as prescribed by Presidential Decree. Where the head of a relevant administrative agency intends to amend or add any restriction, he or she shall have a prior consultation with the Minister of Trade, Industry and Energy. <Amended on Mar. 23, 2013; Feb. 4, 2020>[This Article Wholly Amended on Jan. 30, 2009]