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This excerpt taken from the GRVY 20-F filed Jun 30, 2009. General
The Foreign Exchange Transaction Law and the Presidential Decree
and regulations under such Law and Decree, or the Foreign
Exchange Transaction Laws, regulate investment in Korean
securities by non-residents and issuance of securities outside
Korea by Korean companies. Under the Foreign Exchange
Transaction Laws, if non-residents wish to acquire Korean
securities, a report must be filed with the President of Korea
Exchange Bank or the President of Bank of Korea except for
certain cases (provided, however that, under the
Financial Investment Services and Capital Markets Act,
foreigners cannot acquire equity securities issued by public
corporations in excess of a fixed limit, and under the Foreign
Investment Promotion Law, foreigners are either not allowed or
restricted in making an investment in certain industries.
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Under the Foreign Exchange Transaction Laws, (i) if the
Korean government deems that it is inevitable due to the
outbreak of natural calamities, wars, conflict of arms or grave
and sudden changes in domestic or foreign economic circumstances
or other situations equivalent thereto, the Ministry of Strategy
and Finance, or the MOSF, may temporarily suspend payment,
receipt or the whole or part of transactions to which the
Foreign Exchange Transaction Laws apply, or impose an obligation
to safe-keep, deposit or sell means of payment in or to certain
Korean governmental agencies or financial institutions; and
(ii) if the Korean government deems that the international
balance of payments and international finance are confronted or
are likely to be confronted with serious difficulty or the
movement of capital between Korea and abroad brings or is likely
to bring on serious obstacles in carrying out currency policies,
exchange rate policies and other macroeconomic policies, the
MOSF may take measures to require any person who intends to
perform capital transactions to obtain permission or to require
any person who performs capital transactions to deposit part of
the means of payment acquired in such transactions in certain
Korean governmental agencies or financial institutions, in each
case subject to certain limitations thereunder.
This excerpt taken from the GRVY 20-F filed Jun 27, 2008. General
The Foreign Exchange Transaction Law and the Presidential Decree
and regulations under such Law and Decree, or the Foreign
Exchange Transaction Laws, regulate investment in Korean
securities by non-residents and issuance of securities outside
Korea by Korean companies. Under the Foreign Exchange
Transaction Laws, non-residents may invest in Korean securities
only to the extent specifically allowed by such laws or
otherwise permitted by the Foreign Exchange authorities,
including the Minister of Strategy and Finance, or the MOSF. The
Financial Services Commission, or FSC, has also adopted,
pursuant to its authority under the Korean Securities and
Exchange Act, regulations that restrict investment by foreigners
in Korean securities and regulate issuance of securities outside
Korea by Korean companies.
Under the Foreign Exchange Transaction Laws, (i) if the
Korean government deems that it is inevitable due to the
outbreak of natural calamities, wars, conflict of arms or grave
and sudden changes in domestic or foreign economic circumstances
or other situations equivalent thereto, the MOSF may temporarily
suspend payment, receipt or the whole or part of transactions to
which the Foreign Exchange Transaction Laws apply, or impose an
obligation to safe-keep, deposit or sell means of payment in or
to certain Korean governmental agencies or financial
institutions; and (ii) if the Korean government deems that
the international balance of payments and international finance
are confronted or are likely to be confronted with serious
difficulty or the movement of capital between Korea and abroad
brings or is likely to bring on serious obstacles in carrying
out currency policies, exchange rate policies and other
macroeconomic policies, the MOSF may take measures to require
any person who intends to perform capital transactions to obtain
permission or to require any person who performs capital
transactions to
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deposit part of the means of payment acquired in such
transactions in certain Korean governmental agencies or
financial institutions, in each case subject to certain
limitations thereunder.
This excerpt taken from the GRVY 20-F filed Jun 29, 2007. General
The Foreign Exchange Transaction Law and the Presidential Decree
and regulations under such Law and Decree, or the Foreign
Exchange Transaction Laws, regulate investment in Korean
securities by non-residents and issuance of securities outside
Korea by Korean companies. Under the Foreign Exchange
Transaction Laws, non-residents may invest in Korean securities
only to the extent specifically allowed by such laws or
otherwise permitted by the Foreign Exchange authorities,
including the Minister of Finance and Economy, or the MOFE. The
Financial Supervisory Commission, or FSC, has also adopted,
pursuant to its authority under the Korean Securities and
Exchange Act, regulations that restrict investment by foreigners
in Korean securities and regulate issuance of securities outside
Korea by Korean companies.
Under the Foreign Exchange Transaction Laws, (i) if the
Korean government deems that it is inevitable due to the
outbreak of natural calamities, wars, conflict of arms or grave
and sudden changes in domestic or foreign economic circumstances
or other situations equivalent thereto, the MOFE may temporarily
suspend payment, receipt or the whole or part of transactions to
which the Foreign Exchange Transaction Laws apply, or impose an
obligation to safe-keep, deposit or sell means of payment in or
to certain Korean governmental agencies or financial
institutions; and (ii) if the Korean government deems that
the international balance of payments and international finance
are confronted or are likely to be confronted with serious
difficulty or the movement of capital between Korea and abroad
brings or is likely to bring on serious obstacles in carrying
out currency policies, exchange rate policies and other
macroeconomic policies, the MOFE may take measures to require
any person who intends to perform capital transactions to obtain
permission or to require any person who performs capital
transactions to deposit part of the means of payment acquired in
such transactions in certain Korean governmental agencies or
financial institutions, in each case subject to certain
limitations thereunder.
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