* Optimal geographical conditions inherent: The natural seaport around the harbor is surrounded by natural breakwaters and there is little damage from typhoons or tsunamis. The average depth of water is 14 meters, the tidal difference is 9-10 meters, and the number of storm days is 6.8 days.

* It is located in the shortest distance from China’s coastal commercial belt, and is located in the 24-hour economic zone with a voyage distance of 389km to Yingcheng, 537km to Dalian, and 630km to Qingdao.

* High Logistics Competitiveness: Time and logistics costs are reduced for cargo in the metropolitan area compared to other domestic ports thanks to time and cost savings

* Ranked 5th in total cargo volume nationwide (as of 2020)

* 5 car ferry routes: Weihai, Lianyungang, Yantai, Iljo, Yeongseong

* container carriers: Janggeum Merchant Marine, Dowoo Shipping, SITC, HEDE (HongKong), Sealand Maersk, Dongjin Merchant Marine, Namseong Shipping, Heunga Shipping, Goryeo Shipping, etc.

* There are a total of 29 ports of call for container liners, and Southeast Asia includes Vietnam, the Philippines, and Thailand, and the Chinese district includes Dalian, Tianjin, Qingdao, Shanghai, Ningpa, Weihai, Seokdo, Shenzhen, and Hong Kong.

* There are a total of 8 other routes (automotive routes), and ports of call are the Americas (Tacoma, Portland, San Diego, Baltimore, Philadelphia, etc.), Europe (Southampton, Eliat, etc.), Australia (Sydney, Melbourne, etc.), Asia (Manila, Singapore, PR, Jakarta, China, Japan), Middle East (Dubai, Kuwait, Bahrain, etc.), Latin America (Balboa, Montevideo, etc.)

* Water supply plan

* In the case of supplying land created under Article 9-7 (1) of the Act (hereinafter referred to as “land created” hereinafter) to a foreigner-investing company, foreign educational institution, or foreign medical institution;

* In case of supplying developed land to the state or local government

* When a small and medium-sized business cooperative or business association supplies land to be created to its members or business operators pursuant to Article 6-5 (2) 3

* Other cases where the Mayor/Do Governor deems it necessary to attract foreign investment or revitalize free economic zones.

* In case it can be supplied through a private contract in accordance with relevant laws and regulations

* In case the foreigner is a corporation or group
* When a foreigner is an individual
* Individuals who hold Korean nationality and but are residing in a foreign country

* A foreigner-investing company is a domestic corporation established in accordance with domestic law, and the accounting and settlement of accounts are independent of the foreign parent company.

* In addition, domestic branches (offices), as foreign corporations, conduct accounting and settlement of accounts with the foreign headquarters, and the applicable law is the “Foreign Exchange Transactions Act”, and pays taxes only on income generated in Korea, and the head office/branch of a foreign exchange bank that received a report on the establishment of a branch for the first time. Only (ddesignated foreign exchange trading banks) can introduce operating funds and send negligent remittances

* According to Article 2, Paragraph 1, Paragraph 1 of the Foreign Investment Promotion Act, “foreigners” are defined as individuals with foreign nationality, corporations established under foreign laws, and other international economic cooperation organizations.

* Meanwhile, according to the provisions of Article 2, Paragraph 2 of the same Act and Article 3 of the Enforcement Decree, cases of foreign nationals who have obtained a foreign permanent residence permit and an equivalent residence permit are also included in the scope of foreigners according to the Act.

* Therefore, if an overseas Korean who has obtained permanent residence in a foreign country makes foreign investment in accordance with the Foreign Investment Promotion Act, it is recognized as a foreign investor pursuant to Article 2, Paragraph 1, Item 5 of the same Act. However, in this case, the investment funds must be overseas source funds. In other words, domestic assets (cash, securities, real estate, etc.) owned by overseas Koreans cannot be directly invested as an investment object for foreign investment.

* “Foreigner” under Article 2, Paragraph 1, Paragraph 1 of the Foreign Investment Promotion Act is defined as an individual holding foreign nationality, a corporation established by foreign law, or other international economic cooperation organization.
* Therefore, if a Paper Company established in a tax avoidance area is a corporation established under foreign law, investment is not restricted as it falls under Article 2, Paragraph 1, Item 1 of the Foreign Investment Promotion Act.

* According to Article 2, Paragraph 1, Item 4 (a) of the Foreign Investment Promotion Act, foreign investment is defined as a “foreigner” who owns stocks or shares in a Korean corporation (including a corporation under establishment) or a corporation run by Korean nationals. The subject of the report is a foreigner (however, foreign permanent residents with Korean nationality may be considered foreigners)

* When a foreigner-investing company reinvests its own retained earnings, the subject of the investment is not a foreigner but a Korean (a foreigner-investing company established under the domestic law is a domestic corporation), so it cannot be the subject of an investment report.

* In addition, when a foreign investor acquires stocks, etc. issued when the foreigner-investing company’s reserves, revaluation reserves and other reserves under the provisions of laws and regulations are transferred to capital (Article 7 (1) of the same Act) and When stocks, etc. are acquired through investment in negligence from stocks, etc. (Article 7, Paragraph 4 of the same Act), it is required to report, which assumes that the retained earnings have gone through the process of reverting to foreigners (foreign investors).

* Therefore, in cases where a foreign investor acquires new stocks by investing in a foreigner-investing company with dividends received from the foreigner-investing company, or when a foreigner-investing company acquires stocks issued free of charge by transferring profit reserves to capital, the Foreign Investment Promotion Act Although it is recognized as a foreign investment under the the Foreign Investment Promotion Act.,but only re-investing the retained earnings on the expansion of facilities etc without the profit distribution disposal and capital transfer procedure (issue of new stocks by the decision of the general meeting of shareholders or the board of directors) can not be acknowledged as a foreign investment.

* When the person can not report directly to KOTRA’s 36 overseas offices, or if he(she) is unable to report directly, delegate the authority to the agent for all reporting and procedures related to foreign investment, and the agent can report with a power of attorney.

* It is possible although when you bring cash or other means of payment, you must report it to the customs office and receive a certificate of foreign exchange declaration (confirmation) (Foreign Exchange Transaction Regulations)

* Even if you do not have an account number, you can receive funds in Korea by indicating only the name of the foreign exchange bank branch and the payee. A temporary account number may be assigned to foreign investment notification.

* The remitted money can be used after company incorporation registration or after a capital increase.

* After completing the registration of incorporation by depositing the capital in a bank and submitting the share payment certificate and other company incorporation documents to the registry office, submit a certified copy of the registration of incorporation to the bank. And the bank will open a bank account under the name of the company(corporate account number) and transfer, the fund and the company will be able to use such fund from this point.