earticle

영어

The government called for a US 19.5 Billion International Monetary Fund(IMF) rescue package immediately after the financial crisis occurred early in November, 1997. The IMF subsequently disbursed the requested funds to Korea on the condition that the Korean government push ahead with high-profile restructuring under extremely difficult economic circumstances. Korea’s foreigner Land Acquisition Act was drastically revised in 1998, responding to the opening policy of land market.The result of this study is as following:first, While the Foreigner Land Acquisition Act provides for ‘Land’-holding, it fails to cover the ‘building’ which are more inverts-worthy. Since foreigner investor tend to show more interests in the invest-worthy building than in the land.second is matter of most favoured nation and reciprocity. According to the current status on the acquisition of domestic land by foreigner, the number of overseas Korean acquisition is still prevalent and that of pure foreigner land acquisition for the purpose of investment is relatively small. Therefore we should improve our legislation continuously so the foreigner acquisition of domestic land is connected with higher productivity of our economy.finally, The Act conversed its permit system of foreign land-holding into the reporting system, with some exceptions to the military preservation zone