“Even if you invest just $1 in foreign direct investment, you must report it”... To avoid paying fines, you must pay attention to the obligation to report foreign exchange transactions

Foreign currency report/reporting flow chart. Mr. A, a resident provided by the Financial Supervisory Service, sold real estate in the United States and deposited the money in a local bank instead of bringing it into the country, and did not ‘pre-report foreign currency deposit transactions’ to a foreign exchange bank. Resident B sold a 10% stake (10%) in a Chinese local corporation to another resident for 50 million won, but did not report the change to the foreign exchange bank within 3 months. The Financial Supervisory Service said last year that foreign exchange...