When a non-resident acquires shares (newly issued or existing shares) of a Korean resident entity, such as a Korean corporation, a securities acquisition report must be filed with a designated foreign exchange bank under the Foreign Exchange Transactions Act if the investment amount is less than KRW 100 million or the acquired equity interest is less than 10%.
In April 2023, Our Law Firm successfully completed the securities acquisition reporting process with Hana Bank on behalf of a non-resident investor (a U.S. citizen) who acquired newly issued shares of a Korean corporation. Our firm prepared and submitted all required documentation and successfully completed the reporting process.