1. What Was Foreign Investor Registration?
Foreign investor registration was a system under which a foreign investor was required to register certain personal information with the Financial Supervisory Service (FSS) before initially acquiring or disposing of securities listed on the KOSPI or KOSDAQ markets, or securities offered or sold for the purpose of listing on those markets.
2. Which Foreign Investors Were Subject to Registration?
The registration requirement applied to individuals holding foreign nationality who had not maintained a domicile or residence in Korea for six months or more, as well as foreign governments, foreign local governments, foreign public institutions, foreign companies established under foreign law, international financial organizations established pursuant to treaties, and other persons designated by applicable regulations of the Ministry of Finance and Economy.
3. What Documents Were Required for Foreign Investor Registration?
A foreign investor seeking registration was required to complete the Foreign Investor Registration Application in accordance with the FSS regulations governing the securities industry and submit it to the FSS together with official documents verifying the investor’s identity.
If the application was submitted by an authorized representative, the applicant was also required to submit documents such as a Power of Attorney or a Standing Attorney Agreement.
If the application satisfied all applicable requirements, the FSS would issue a Foreign Investor Registration Certificate.
4. Could a Foreign National Who Had Resided in Korea for Six Months or More Obtain a Foreign Investor Registration Certificate?
A foreign national who had maintained a domicile or residence in Korea for six months or more was classified as a foreign national subject to national treatment and therefore was not required to obtain a Foreign Investor Registration Certificate.
Source: e-Financial Complaints Center, Official Interpretations & Regulatory FAQ