51 |
FAQ on FDI in Korea 2023 (Q182~Q185)
■ FAQ on FDI in Korea 2023 (Q182~Q185)
Visa
Q182
What are the types and classifications of visas?
1. Types of visas
Single-entry visa
Entry limited to one occasion within the expiration period
Expiration period: 3 months from the date of issuance
Multiple-entry visa
The visa holder can enter the country on two or more occasions withinthe expiration date.
. . .
작성일 2024-04-08
2024
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50 |
FAQ on FDI in Korea 2023 (Q176~Q181)
■ FAQ on FDI in Korea 2023 (Q176~Q181)
Environment
Q176
What rules apply to the collection, transport, storage and recycling of waste that is subject to restrictions on cross-border transfer?
In regard to the collection, transport and recycling of waste that is exported or imported, the Wastes Control Act or theAct on the Promotion of Saving and Recycling of Resources is applied.
herefore, when intending to collect, tran . . .
작성일 2024-04-02
2024
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49 |
FAQ on FDI in Korea 2023 (Q170~Q175)
■ FAQ on FDI in Korea 2023 (Q170~Q175)
Environment
Q170
When intending to establish a factory, what environment-related laws should be complied with?
Before establishing a factory, if the manufacturing facilities,etc. that are to be established within the factory fall underthe category of "facilities that discharge environmentalpollutants" as defi ned by environment-related laws, a priorpermit/approval must be acquired regarding est . . .
작성일 2024-03-25
2024
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48 |
FAQ on FDI in Korea 2023 (Q166~Q169)
■ FAQ on FDI in Korea 2023 (Q166~Q169)
Labor
Q166
Is payment of retirement allowance mandatory for an employee that is leaving the company?
In accordance with Article 34 of the Labor StandardsAct and Article 4 of the Act on Guarantee of RetirementAllowance to Employees, when an employee retiresafter working for at least a period of one year, retirementallowance pertaining to the average wage of at least 30days must be paid for one . . .
작성일 2024-03-19
2024
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47 |
FAQ on FDI in Korea 2023 (Q161~Q165)
■ FAQ on FDI in Korea 2023 (Q161~Q165)
Labor
Q161
Should only Sunday be designated as the weekly holiday?
According to Article 55 of the Labor Standards Act, a day ofpaid leave must be guaranteed for an average of at least oncea week. However, it does not prescribe a certain day as theweekly holiday. This means Sunday does not necessarilyhave to be the designated weekly holiday. The day whichmarks the beginning of a week can be desi . . .
작성일 2024-03-11
2024
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46 |
FAQ ON FDI IN KOREA 2023 (Q156~Q160)
■ FAQ on FDI in Korea 2023 (Q156~Q160)
Labor
Q156
What are the conditions that must be satisfied in order to make an interim settlement of severance paymennts?
Article 8 (2) of the Act on the Guarantee of Employees' Retirement Benefits stipulates that "Any employer may,upon request by an employee due to a ground prescribed by Presidential Decree, pay such employee a retirement allowance for his/her continuous service period prior to . . .
작성일 2024-03-04
2024
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45 |
AQ on FDI in Korea 2023 (Q151~Q155)
■ FAQ on FDI in Korea 2023 (Q151~Q155)
Labor
Q151
Is there extra pay if a worker has worked on Workers' Day?
The Designation of Workers' Day Act prescribes that "The first day of May each year shall be designated as Workers' Day,which shall be a paid holiday under the Labor Standards Act."
A "paid holiday" is a day on which there is no obligation to provide laborservice, while receiving a payment that would have been r . . .
작성일 2024-02-26
2024
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44 |
FAQ on FDI in Korea 2023 (Q147~Q150)
■ FAQ on FDI in Korea 2023 (Q147~Q150)
Labor
Q147
Is it a violation of the law if a regular labor- management council is not held because the workers' members have not been organized?
Article 6 of the Act on the Promotion of Workers' Participationand Cooperation states that a council shall be composed ofthe same number of members representing workers andemployers, and each number of members shall be not lessthan three but not more t . . .
작성일 2024-02-19
2024
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43 |
FAQ on FDI in Korea 2023 (Q143~Q146)
■ FAQ on FDI in Korea 2023 (Q143~Q146)
Labor
Q143
What is the discrimination rectification system for non-regular workers?
The discrimination rectification system was newlyintroduced under the Act on the Protection, etc. of FixedTerm and Part-Time Workers and the Act on the Protection,etc. of Temporary Agency Workers. It was introduced toprohibit unfavorable treatment against non-regular workerson the ground of his/her employment . . .
작성일 2024-02-13
2024
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42 |
FAQ on FDI in Korea 2023 (Q136~Q142)
■ FAQ on FDI in Korea 2023 (Q136~Q142)
Factory Establishment and Location
Q136
Is a tenant company of a service-type foreign investment zone (FIZ) eligible for tax reduction or exemption?
No tax reduction or exemption benefits are provided forservice-type FIZ tenant companies under the Restriction ofSpecial Taxation Act.
The Restriction of Special Taxation Act defines individual-type FIZ andcomplex-type FIZ tenant compan . . .
작성일 2024-02-06
2024
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41 |
FAQ on FDI in Korea 2023 (Q131~Q135)
■ FAQ on FDI in Korea 2023 (Q131~Q135)
Factory Establishment and Location
Q131
Is a foreign-invested company moving into a national industrial complex eligible for a reduction in land rent?
Cases where a foreign-invested company receives 100% rent exemption:
Where a foreign investor makes an investment according to specificcriteria and the foreign-invested company operates in the areawhere the foreign in . . .
작성일 2024-01-29
2024
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40 |
FAQ ON FDI IN KOREA 2023 (Q126~Q130)
■ FAQ on FDI in Korea 2023 (Q126~Q130)
Factory Establishment and Location
Q126
Should a company continue to meet the standard factory area ratio even after the factory has been built and registered according to the standard factory area ratio?
The standard factory area ratio is enforced to prevent factoryestablishment for the purpose of speculation. Therefore, thecompany needs to maintain the construction area equal toor greater than the standard factory area ratio even afterreporting the construction and . . .
작성일 2024-01-23
2024
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39 |
FAQ on FDI in Korea 2023 (Q121~Q125)
■ FAQ on FDI in Korea 2023 (Q121~Q125)
Factory Establishment and Location
Q121
Should a company have land ownership over the site when applying for factory establishment approval?
A company does not need to have ownership over the landwhen applying for factory establishment approval. Onlythe right to use the land is necessary. Once it is confirmeda factory can be built on the site after examining therequirements for moving into the site, the company canapply for factory establishment approval after obtaini . . .
작성일 2024-01-16
2024
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38 |
FAQ on FDI in Korea 2023 (Q117~Q120)
■ FAQ on FDI in Korea 2023 (Q117~Q120)
Factory Establishment and Location
Q117
What measures are taken against a foreign- invested company in a foreign investment zone (FIZ) that does not fully execute its project plan?
A company that moves into an FIZ should completely carry out its business plan submitted at the time of signing of the tenancy contract within five years of the date of concluding the contract. In accordance with Article 26-2 (5) and (6) of theEnforcement Decree of the Foreign Investment . . .
작성일 2024-01-09
2024
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37 |
FAQ on FDI in Korea 2023 (Q114~Q116)
■ FAQ on FDI in Korea 2023 (Q114~Q116)
Factory Establishment and Location
Q114
If a company wishes to move into a foreign investment zone (FIZ), does the entire amount of the investment need to be executed by the time when the tenancy contract is signed?
A114
For a manufacturing company, not all of the minimum investmentamount needs to have arrived when the tenancy contract is signe . . .
작성일 2024-01-02
2024
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