Foreign investment support centers
Foreign investment support center of Korea Trade–Investment Promotion Agency (KOTRA)
- To comprehensively perform counseling, guidance, public relations, investigation, and research related to foreign investment, as well as handle and vicariously conduct civil petition affairs, business incubation, and other support affairs for foreign investors and foreign-invested companies, a foreign investment support center was established at KOTRA (Article 15 (1) of the Foreign Investment Promotion Act).
※ What is the Foreign Investment Support Center (INVEST KOREA)?
· It is a national investment attraction organization established within the Korea Trade-Investment Promotion Agency (KOTRA) to support the successful entry of foreign companies into Korea.
· The Foreign Investment Support Center provides comprehensive services for foreign companies such as investment counseling, investment reporting, establishment of companies, support for business activities in Korea, and resolution of management difficulties.
Foreign investment ombudsman
Foreign investment ombudsman system
- To handle grievances of foreign investors and foreign-invested companies, foreign investment ombudsmen shall be commissioned from among persons with extensive knowledge and experience in foreign investment work (Article 15-2 (1) of the Foreign Investment Promotion Act).
- To handle grievances of foreign investors and foreign-invested companies, a foreign investment ombudsman may request necessary cooperation from the heads of relevant administrative agencies and related organizations if necessary, and may recommend them to improve related matters (Article 15-2 (3) and (4) of the Foreign Investment Promotion Act).
Foreign investment promotion office
Installment of the foreign investment promotion office
- Every central administrative agency, special self-administering city, metropolitan city, Do, and Si/Gun/Gu (referring to autonomous Gu) may each designate an office in charge of foreign investment to work as a foreign investment promotion office, or install a foreign investment promotion office for rendering efficient support for foreign investment by properly supervising the handling of civil petitions concerning permissions, authorizations, licensing, approvals, designations, revocations, reports, recommendations, and consultation related to foreign investment. The office may assist the prompt settling of grievances for foreign investors and foreign-capital invested companies and establish systems for cooperation with appropriate agencies (Article 16 (1) of the Foreign Investment Promotion Act).
Project manager (PM)
Project manager (PM) system
- The head of KOTRA may designate ① an employee of KOTRA, ② a dispatched officer (referring to a public official dispatched to a foreign investment support center or executives and employees of a related organization), or ③ a public official or employee of a central administrative agency, local government, or public institution related to foreign investment as a project manager (PM) to efficiently support the investment affairs of foreign investors or foreign-invested companies (former part of Article 21-2 (1) of the Enforcement Decree of the Foreign Investment Promotion Act).
- Once the PM is assigned, it will be notified to the related foreign investors and foreign-invested companies (latter part of Article 21-2 (1) of the Enforcement Decree of the Foreign Investment Promotion Act).