There is no relationship between employment succession and the change of the majority shareholder after selling stocks.However, if the change of the majority shareholder leads also to a change of the management, and the new management is considering a new business direction, then it might also have an impact on the employment of the workers.

– But in that case, it would be equal to a layoff, which would require a justifiable reason
pursuant to Art. 30 of the Labor Standards Act.

A collective agreement is decided autonomously by the labor and management aiming at achieving a stable labor-management relationship. It is a legal entity and both parties are obliged to stick to the regulations faithfully.
The parties involved in the collective agreement must not commit themselves to industrial action for a change of the agreement. They are also obligated to discourage other workers from industrial action (obligation for peace), which is not a clause in the collective agreement, but rather an inherent obligation.
Accordingly, it is not possible to engage in industrial action demanding any changes in the collective agreement during its validity. In case of violation, the person will be subject to civil and penal liability.

Before 1998, most of the disputes were about wage increases and collective agreements.
But recently, the majority of the disputes deal with job security in connection with restructuring.
Concerning the resolution of the disputes, there is an increase of resolutions resulting from autonomous bargaining
The government ensures autonomous bargaining between the labor and management in terms of wage and collective bargaining
Objective date and information needed for the bargaining are quickly provided, but if the dissenting opinions persist, the Labor Relations Commissions will help to find a quick solution to the problem through mediation.

In order to receive duty exemption, the capital goods have to be used for business eligible for tax deduction.
Therefore, if the capital goods are used for other purpose, then the exempted duty will be charged.
Furthermore, at the stage of customs clearance, it is not possible to divide the use of the capital goods according to the type of business they will be used for. Therefore, it is not possible to get duty abatement depending on their use.

If a used car imported by a foreign investor wants to be recognized as freight, the car has to be registered as private possession before departure (at least three months)

In this case, for a car per a house, it is exempted from the duties if the car was made in Korea and then exported. However, for a car per a house, it has to be paid customs duty if the car was made in foreign country regardless of used period.
In order to pass through the customs clearance, the car should be a sedan, jeep or station wagon and the size of the car should not be exceed a capacity of 9 people, and documents that prove evidence of registration including a car registration issued by government of the country where has been or certificate of insurance have to be submitted. However, large trucks, caravans and pick-up trucks cannot clear customs as freight when moving to Korea.
Customs duties for a car are following, and for a used car, if the actual paid price cannot be found, customs duty is calculated by taking reference to the list of price in the blue book by taking also the depreciation cost and insurance fee into consideration.

Under the Article 121.3.1 of the Special Tax Treatment Act, capital goods, introduced by a foreign invested company from a foreign investor registered based on the Article 5.1 of the Foreign Investment Promotion Act, and capital goods introduced for investment in stock by a foreign investor, are can be exempted for duties.
Therefore, for the capital goods, except for investment in stock, customs duties can be exempted within the range of investment made from a foreign investor according to notification of FDI, and if the actual investment is less than the required amount to get approval for tax deduction, customs duties abated within the introduced investment. 

The capital goods have received duty exemption during import clearance. If they should be disposed of before five years have passed from the date of import notification, a disposal notification of capital goods has to be made in advance at the place of FDI notification.
In this case, it is assumed that the imported capital goods are used for purposes other than notified or disposed, so that the exempted value-added tax, and special excise tax have to be paid. 

Since a paper company is an entity established under foreign law, it falls under Art. 2, paragraph 1 of FIPA and is not restricted. 

♦ Continuous source of foreign currency

– Securing a steady influx of foreign capital without the burden of additional foreign debt; FDI
is targeted on long-term profits and is therefore more secure than other purely financial
investments.
– Positive effects on the restructuring of domestic companies through M&A by foreign-
invested companies if domestic capital is insufficient.

♦ Economic benefits

– The imported foreign capital itself will contribute to a higher production rate of the industry,
increasing the value-added and therefore improving the productivity of the overall economy
as well as promoting economic growth through technology transfer, higher employment,
and increased exports.
– Synergy effects
· Promoting economies of scale, versification of products, improving efficiency through
the network of headquarters and branch offices of the multinational companies, as well
as improving the flexibility of the management structure.
– Increasing competitiveness
· Increasing the competitiveness within the market and thus improving the efficiency of
the domestic economic structure. Increasing the welfare of consumers through price
decreases.
– Technology transfer and propagation
· Technology propagation to other domestic companies, such as employing research
staff mainly from foreign-invested companies and their affiliates having received tech-
nology transfer or from companies that have received technology directly from their
headquarters.
– Pros and cons regarding the balance of payments
· On the one hand, better balance of payments are achieved by replacing imports
through domestic production; however, more imports of raw
materials and parts from the headquarters will lead to worsening of the balance of
payments.
· Production-based foreign investment will improve the balance of payments positions, but
the effects of a market-approach based foreign investment with the objective of
domestic sales will depend on how well the finished products can replace imports and
on the supply status of capital goods from overseas.
· Capital inflow from the branch will improve the balance of payments; however, payment
of royalties, and transfer of profits will lead to worsening of the balance of payments.
– Creating employment
· Higher employment through the need for more workforce directly in the branch office
and in the headquarters to meet the increased supply needs for capital goods and raw
materials. Also, the need for more staff in affiliated companies due to the distribution
and delivery of the finished product.
· However, there is also a possibility of less employment, if labor-intensive production
methods are replaced by capital-intensive methods.

The deadline would be the day of starting the business, Dec. 31, since it is the last day of the business year.