Category of Business (KSIC)

Standards for Permission

Growing of cereal crops and other crops for food (01110)

- Growing of rice and barley is prohibited

Farming of beef cattle (01212)

- Permitted where the foreign investment ratio is less than 50%

Inshore and coastal fishing (03112)

Manufacture of other basic inorganic chemicals (20129)

- Permitted with the exception of manufacture and distribution of nuclear fuel

Manufacture of other smelting, refining and alloys of non-ferrous metals (24219)

Nuclear power generation (35111)

- Prohibited

Hydroelectric power generation (35112)
Fire power generation (35113)
Other power generation (35119)

- The sum of power plant facilities purchased by foreigners from Korea Electric Power Corporation (KEPCO) must not surpass 30% of the total domestic power plant facilities

Transmission and distribution of electric power (35120)

- The foreign investment ratio must be less than 50%
- Voting stocks owned by foreign investors < Dominant stocks held by Korean nationals

Disposal of radioactive waste (38240)

- Radioactive waste management business is prohibited under Article 9 of the Radioactive Waste Control Act

Wholesale of meat (46312)

- Permitted where the foreign investment ratio is less than 50%

Coastal water passenger transport (50121)
Coastal water freight transport (50122)

Permitted if each of the following conditions is met :
- Transport of passengers or freight between South and North Korea;
- Joint venture with a shipping company of the Republic of Korea;
- The foreign investment ratio is less than 50%

International air transport (51)
Domestic air transport (51)
Small air transport (51)

- Permitted where the foreign investment ratio is less than 50%

Publishing of newspapers (58121)

- Permitted where the foreign investment ratio is less than 30%

Publishing of magazines and periodicals (58122)

- Permitted where the foreign investment ratio is less than 50%

Radio broadcasting (60100)

Prohibited

Over-the-air broadcasting (60210)

Prohibited

Program distribution (60221)

- Permitted where the foreign investment ratio is 49% or less
(* General programming channel and specialized news channel businesses are prohibited.)
* Program distribution refers to program providing business under the Broadcasting Act

Cable networks (60222)

- CATV broadcasting business is permitted where foreign investment ratio is 49% or less (* CATV relay broadcasting business is prohibited)

Broadcasting via satellite and other broadcasting (60229)

- Permitted where foreign investment ratio is 33% or less
(* Internet multimedia broadcasting business is permitted where the foreign investment ratio is 49% or less)

Wired telecommunications (61210)

- Permitted where the sum of shares (limited to voting shares, including depositary receipt (DR) and other share equivalents and equity interests) held by a foreign government or a foreigner (including fictitious corporation of foreigners) is 49% or less of the total issued shares of the company (Foreigners are not allowed to become a majority shareholder of KT. However, they may invest in KT where they own less than 5% of the total shares.)
* Fictitious corporation of foreigners: a corporation whose largest shareholder is a foreign government or a foreigner (including a specially-related person as referred to in Article 9 (1) 1 of the Financial Investment Services and Capital Markets Act), and not less than 15/100 of the gross number of whose issued stocks are owned by the said foreign government or foreigner.
- Telecommunications resellers business (61282) is permitted
- Supplementary communications business is not restricted

Mobile communications (61220)

Satellite communications (61230)

Other electronic communications (61299)

News agency activities (63910)

- Permitted where the foreign investment ratio is less than 25%

Domestic commercial bank (64121)

- Permission is limited to commercial banks and local banks
(* Specialized banks, and agricultural/fisheries/livestock cooperatives are prohibited.)