For the purpose of this Act, the term "foreigner" means an individual, a juristic person or an organization falling under any of the following subparagraphs:
1. An individual who does not have the nationality of the Republic of Korea;
2. A juristic person or an organization falling under any of the following items:(a) A juristic person or an organization established in accordance with foreign Acts and subordinate statutes;(b) A juristic person or an organization not less than a half of the employees or members of which fall under subparagraph 1;(c) A juristic person or an organization not less than a half of its executives, such as employees conducting affairs or directors, of which fall under subparagraph 1;(d) A juristic person or an organization not less than a half of its capital or not less than a half of voting rights of which are possessed by persons falling under subparagraph 1 or juristic persons or organizations falling under item (a). In such cases, when calculating the capital or the number of voting rights, it shall be deemed that persons falling under subparagraph 1 or juristic persons or organizations falling under item (a) hold bearer stocks of a stock company.[This Article Wholly Amended by Act No. 9186, Dec. 26, 2008]