Can an individual borrow foreign capital from overseas?

Yes, an individual can borrow foreign capital from overseas.If the individual is a non-profit organization or a non-resident, then the designated transaction has to be notified to the Bank of Korea through a foreign exchange bank. The individual who has borrowed foreign capital from overseas has to deposit the received capital into an account of a resident in the designated foreign exchange bank and use it for the purpose as stated at the time of notification / application for permission.