(1) A foreigner (including specially related personnel prescribed by Presidential Decree in cases falling under Article 2 (1) 4 (a) (ii); hereafter in this Article the same shall apply) who intends to make a foreign investment by either of the methods provided for in the items of Article 2 (1) 4 shall, in advance, report thereon to the Minister of Trade, Industry and Energy, as prescribed by Decree of the Ministry of Trade, Industry and Energy.
(2) Notwithstanding paragraph (1), a foreigner who intends to make a foreign investment by any of the following methods may report thereon within 60 days from the acquisition of stocks, etc.:
1. Where the foreigner acquires existing stocks, etc. issued by a listed stock corporation under the Financial Investment Services and Capital Markets Act (excluding public purpose corporations referred to in Article 152 (3) of that Act and corporations that are restricted from acquiring stocks under separate Acts);
2. Where the foreign investor acquires stocks, etc. issued upon capitalizing reserves of the relevant foreign-invested company, revaluation reserves thereof, or other reserves prescribed by other statutes or regulations;
3. Where the foreign investor acquires stocks, etc. of a surviving corporation or a newly incorporated corporation after a merger, all-inclusive stock swap or transfer, or spinoff by means of stocks he or she is holding at the time of the relevant foreign-invested company's merger, all-inclusive stock swap or transfer with another company, or spinoff;
4. Where the foreigner acquires stocks, etc. of a foreign-invested company registered under Article 21 by means of purchase, inheritance, testamentary gift, or gift from a foreign investor;
5. Where the foreign investor acquires stocks, etc. by investing the proceeds from the stocks, etc. acquired under the statutes of the Republic of Korea;
6. Where the foreigner acquires stocks, etc. using convertible bonds, exchangeable bonds, stock depositary receipts, and such similar ones as bonds or receipts that may be converted into, taken over as, or exchanged for stocks, etc.
(3) Of the details reported under paragraph (1) or (2), where any of the matters prescribed by Decree of the Ministry of Trade, Industry and Energy, such as the foreign investment ratio (referring to the ratio of the stocks, etc. owned by a foreign investor to the total stocks, etc. of a foreign-invested company; hereinafter the same shall apply), is modified, a foreigner may reflect such modified matter when reporting to Minister of Trade, Industry and Energy.
(4) Upon receipt of a report filed under paragraphs (1) through (3), the Minister of Trade, Industry and Energy shall issue a certificate of completion of report to the relevant person without delay.[This Article Wholly Amended on Jan. 27, 2016]