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Foreign-invested companies may remit funds in the name of capital reductions, dividends, or liquidated funds. Domestic branches may remit funds as operating revenue or liquidated funds.
Resident Foreigners
Remittance of funds carried in from abroad requires notification to the head of a foreign exchange bank with documents certifying payment attached. The acquisition of real estate from funds generated domestically requires notification to the governor of the Bank of Korea.
Non-Resident Foreigners
Overseas remittance of gains from disposal of real estate is available with documents notified for the acquisition. If real estate acquisition has not been notified, notification should be made to the governor of the Bank of Korea.
