📋 Korean Law Insight | Natural Resources & Foreign Investment
By Attorney NOH UJIN | HANBYOL LAW LLC, Seoul
Korean Mining and Natural Resources Law for Foreign Investors
South Korea may not be commonly associated with large-scale mining, yet the country possesses significant deposits of tungsten, molybdenum, graphite, and rare earth elements that are strategically vital to global semiconductor, battery, and defense supply chains. As global demand for critical minerals intensifies — driven by the clean energy transition and geopolitical reconfiguration of supply chains — foreign investors are increasingly eyeing Korea's mining sector. This guide provides a comprehensive overview of the legal framework governing mining and natural resources in Korea, including the Mining Act (광업법), the Act on Foreign Investment Promotion (FIPA / 외국인투자촉진법), environmental permitting, and recent developments in Korea's critical minerals strategy.
1. Overview of Korean Mining Law
The primary statute governing mining activities in Korea is the Mining Act (광업법), administered by the Ministry of Trade, Industry and Energy (MOTIE / 산업통상자원부). The Mining Act establishes a state ownership doctrine for mineral resources — all underground mineral deposits are owned by the state (국가 소유), regardless of surface land ownership. Private parties may acquire mining rights through a licensing regime.
1.1 Types of Mining Rights
| Right Type | Description | Duration |
|---|
| Mining License (광업권 — 탐광권) | Exploration right to conduct geological surveys and test extraction | 7 years (renewable) |
| Mining Right (광업권 — 채굴권) | Right to commercially extract designated minerals from a defined area | 20 years (renewable) |
| Mineral Collection Permit (채취허가) | Small-scale or incidental mineral collection authorization | As specified |
1.2 Regulated Minerals
The Mining Act designates specific minerals subject to the licensing regime, including gold, silver, copper, iron, coal, uranium, rare earth elements (REEs), graphite, lithium, cobalt, and tungsten. Sand, gravel, and aggregate quarrying is regulated separately under the Aggregate Extraction Act (골재채취법).
2. Licensing Procedure
Foreign investors seeking to engage in mining operations in Korea must navigate the following steps:
- Establish a Korean Legal Entity: Foreign companies typically establish a wholly-owned Korean subsidiary (주식회사) or register a local branch. A Korean legal entity is required to apply for and hold mining rights — foreign companies cannot directly hold mining rights in Korea.
- Foreign Investment Notification/Report: Under FIPA, foreign investment in mining must be reported to the Korea Trade-Investment Promotion Agency (KOTRA) or an authorized foreign exchange bank within 30 days of investment. Mining does not appear on the restricted industries list, but uranium mining requires governmental pre-approval.
- Application for Mining License / Mining Right: Applications are filed with MOTIE, which evaluates technical capability, financial capacity, and compliance history. The application must include a proposed mining area, targeted minerals, geological survey reports, and a proposed work plan.
- Environmental Impact Assessment (EIA): Projects meeting certain thresholds (generally 30,000 m² or more) require an EIA under the Environmental Impact Assessment Act (환경영향평가법). The EIA process involves public notice, expert review, and ministerial consultation — typically taking 6–18 months.
- Land Use Permitting: Mining operations in forested, agricultural, or protected areas require additional permits from the Korea Forest Service (산림청), Ministry of Agriculture, or the Ministry of Environment (환경부).
- Registration and Commencement: Upon grant, the mining right must be registered with the mining registry (광업원부). Operations must commence within the statutory period or the right may lapse.
3. Korea's Critical Minerals Strategy
Korea is heavily dependent on imports for critical minerals essential to its semiconductor, EV battery, and defense industries. In response to supply chain vulnerabilities exposed by the COVID-19 pandemic and US-China tech tensions, the Korean government has implemented a Critical Minerals Security Strategy (핵심광물 확보전략), including:
- Korea Resources Corporation (KORES / 한국광물자원공사): State-owned enterprise mandated to develop and secure mineral resources both domestically and overseas. KORES often enters into joint ventures with foreign mining companies.
- 33 Strategic Minerals Designation: MOTIE has designated 33 critical minerals (lithium, cobalt, nickel, manganese, graphite, REEs, etc.) as strategic resources. Domestic supply chain development for these minerals is supported with government subsidies, tax incentives, and fast-track permitting.
- Overseas Mineral Development Support: KORES provides financial and technical support for Korean companies developing overseas mineral assets, with a preference for joint ventures with foreign mining majors.
- Korea-US Critical Minerals MOU: The 2023 Korea-US Critical Minerals Agreement provides a framework for bilateral cooperation on mineral supply chain security, including incentive provisions under the US Inflation Reduction Act (IRA) for Korean-processed minerals.
4. Environmental and Reclamation Obligations
Mining operators in Korea are subject to extensive environmental obligations:
- Mining Damage Prevention Plan (광해방지계획): Required at the permitting stage; updated annually. The plan must address prevention of ground subsidence, acid mine drainage, dust, and water contamination.
- Mine Reclamation Fund: Operators must establish and contribute to a mine reclamation fund (광해방지기금), administered by the Korea Mine Rehabilitation and Mineral Resources Corporation (한국광해광업공단, KOMIR). Post-closure, operators remain liable for environmental remediation costs for 30 years.
- Soil Contamination Remediation Act (토양환경보전법): Mining operators who cause soil contamination are strictly liable for cleanup costs, including contamination discovered after mine closure or ownership transfer.
5. Transfer and Assignment of Mining Rights
Mining rights in Korea are transferable subject to MOTIE approval. Key restrictions include:
- Transfer requires MOTIE approval — automatic transfer or pledge without approval is void.
- Mortgaging (저당권 설정) of mining rights is permitted as collateral for project financing, subject to registration.
- Mining rights are encumbered by any existing surface land rights and must be coordinated with landowners (compensation obligations exist under the Mining Act).
6. Tax Regime for Mining
- Royalties / Production Levies: Korea does not impose a dedicated mining royalty on private operators. However, the government may receive a share of production in certain state-managed resources.
- Corporate Income Tax: Standard CIT rates apply (9–24%). Mining exploration expenses may be capitalized and amortized or expensed immediately at the taxpayer's election.
- Property Tax and Aggregated Land Tax: Mining rights themselves (and the land within the mining area) are subject to local property taxation.
- Customs Duty Exemption: Equipment imported exclusively for use in mining exploration or extraction may qualify for customs duty exemption or reduction under FIPA-based investment incentives or the Customs Act exemptions for industrial machinery.
7. Dispute Resolution in Mining
Mining disputes in Korea — including license revocations, compensation disputes with landowners, and environmental liability claims — are resolved through:
- Administrative Appeal (행정심판): Against MOTIE licensing decisions within 90 days of the decision.
- Administrative Litigation (행정소송): Before the Seoul Administrative Court or competent district court.
- Civil Litigation: For compensation claims against third parties or landowners.
- Arbitration: Investor-State Dispute Settlement (ISDS) under Korea's BITs/FTAs (including KORUS, Korea-EU FTA, and Korea's BIT network) is available to foreign investors aggrieved by government action affecting mining rights.
📌 Official References
Frequently Asked Questions (FAQ)
Q1: Can a foreign company directly hold a mining license in Korea?
No. Under the Mining Act, mining rights must be held by a Korean legal entity. A foreign company must first establish a Korean subsidiary (주식회사) or register a local branch before applying for a mining license. The Korean entity must demonstrate technical and financial capability to obtain the license.
Q2: Are there any minerals that are restricted or prohibited for foreign investment?
Uranium mining is subject to separate governmental pre-approval requirements under nuclear energy legislation and is effectively restricted for private (especially foreign) operators. Certain designated strategic minerals may require additional national security review. Aggregate quarrying (모래, 자갈) is regulated by a separate act but generally open to investment.
Q3: How long does it take to obtain a mining license in Korea?
The mining license process itself typically takes 6–12 months from application. However, if an EIA is required (which is common for operations of 30,000 m² or more), the overall permitting timeline can extend to 2–3 years. Fast-track procedures may be available for strategic mineral projects under the Critical Minerals Security Strategy.
Q4: What ISDS protections are available to foreign mining investors in Korea?
Korea has concluded approximately 100 bilateral investment treaties (BITs) and investment chapters in FTAs (KORUS, Korea-EU, KAUSFTA, etc.). Foreign investors in mining can invoke ISDS arbitration (typically under ICSID or UNCITRAL rules) if the Korean government takes action that constitutes expropriation, denial of fair and equitable treatment, or discrimination. The Korea-US FTA provides particularly robust investor protections.
Q5: What environmental liability risks should foreign mining investors consider?
Korea imposes strict liability for soil contamination under the Soil Contamination Remediation Act, meaning operators are liable regardless of fault. Environmental liability survives ownership transfer for 30 years post-closure. Environmental due diligence, including Phase I and Phase II site assessments, is essential before acquiring mining rights or mining companies in Korea.
Q6: How does the Korea-US IRA partnership benefit Korean mining operations?
Under the 2022 US Inflation Reduction Act and the Korea-US Critical Minerals Agreement (2023), minerals processed or refined in Korea may qualify as "friendly nation" minerals for purposes of the IRA's EV battery tax credit provisions. This creates commercial incentives for foreign mining investors to establish processing operations in Korea as a strategic supply chain hub for US market access.
Q7: Is a joint venture with KORES (Korea Resources Corporation) advantageous for foreign mining investors?
Yes, in many cases. A KORES joint venture provides: (i) state backing that may accelerate permitting, (ii) access to KORES's overseas mineral network and government-supported financing, (iii) preferential treatment under the Critical Minerals Security Strategy subsidy and support programs. However, investors should negotiate carefully on governance rights, profit sharing, and exit mechanisms.
📚 Related Articles
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📋 韩国法律洞察 | 自然资源与外商投资
作者：NOH UJIN 律师 | HANBYOL LAW LLC，首尔
外资企业韩国矿业与自然资源法律指南
韩国拥有钨、钼、石墨及稀土元素等对全球半导体、电池及国防供应链至关重要的战略矿产资源。随着全球对关键矿物需求持续增长，外国投资者对韩国矿业领域的关注度日益提升。本指南全面介绍韩国矿业相关法律框架，涵盖《矿业法》（광업법）、《外商投资促进法》（외국인투자촉진법）、环境许可及近期关键矿物战略动向。
一、韩国矿业法概述
韩国矿业活动的主要法规为《矿业法》，由产业通商资源部（MOTIE）主管。《矿业法》确立了矿产资源国家所有原则——地下矿产资源归国家所有，与地面土地所有权无关。私人主体可通过许可制度取得采矿权。
1.1 采矿权类型
| 权利类型 | 说明 | 期限 |
|---|
| 探矿权（탐광권） | 进行地质勘查和试采的权利 | 7年（可续期） |
| 采矿权（채굴권） | 在特定区域商业开采特定矿产的权利 | 20年（可续期） |
| 矿物采集许可 | 小规模或附带性矿物采集授权 | 按批准期限 |
二、许可申请程序
- 在韩国设立法人实体（外国公司不能直接持有采矿权）
- 按《外商投资促进法》向KOTRA或指定外汇银行申报外商投资
- 向产业通商资源部申请探矿权/采矿权
- 开展环境影响评价（占地3万平方米以上须进行）
- 获取土地利用相关许可
- 完成采矿权登记并在法定期限内开始作业
三、韩国关键矿物战略
韩国对半导体、电动汽车电池及国防工业所需关键矿物的进口依赖度较高。为应对供应链风险，韩国政府推出关键矿物安全保障战略，主要举措包括：
- 韩国矿物资源公社（KORES）：国有企业，负责国内外矿产资源的开发与保障，常与外国矿业公司组建合资企业。
- 33种战略矿物认定：产业通商资源部已将锂、钴、镍、锰、石墨、稀土等33种矿物列为战略资源，并提供补贴、税收优惠及快速审批等支持。
- 韩美关键矿物谅解备忘录：2023年韩美关键矿物协议为双边矿物供应链安全合作提供框架，韩国加工矿物可享受美国《通货膨胀削减法案》（IRA）激励条款。
四、环境及复垦义务
- 须在申请阶段制定并每年更新矿害防止计划。
- 须向由韩国矿害矿业公团（KOMIR）管理的矿害防止基金缴纳资金，矿山关闭后30年内仍须承担环境修复责任。
- 根据《土壤环境保全法》，矿业运营者对土壤污染承担严格责任。
五、采矿权转让及质押
韩国采矿权可在产业通商资源部批准下转让；可为项目融资设立抵押权，须办理登记手续；需协调地面土地权利人关系，《矿业法》规定了相应的补偿义务。
六、税务制度
- 韩国不对私人矿业运营者征收专项资源税。
- 适用标准企业所得税率（9%~24%），勘探费用可资本化摊销或当期费用化。
- 进口矿山专用设备可申请关税豁免或减免。
📌 官方参考资源
常见问题（FAQ）
Q1：外国公司能否直接在韩国持有采矿许可证？
不能。根据《矿业法》，采矿权须由韩国法人持有。外国公司须先在韩国设立子公司或登记分支机构，方可申请采矿权。
Q2：哪些矿物对外商投资有限制？
铀矿开采须单独获得政府批准，实际上对私人（尤其是外国）运营者严格限制。部分战略矿物可能需要额外的国家安全审查。
Q3：在韩国获得采矿许可证需要多长时间？
申请程序本身通常需要6至12个月。若需开展环境影响评价（一般适用于3万平方米以上项目），整体审批周期可延长至2至3年。战略矿物项目可适用快速审批程序。
Q4：外国矿业投资者可获得哪些ISDS保护？
韩国已签订约100项双边投资协定及自由贸易协定投资章节。外国矿业投资者如受到韩国政府征收、不公平对待或歧视性行为影响，可依据ICSID或UNCITRAL规则提起ISDS仲裁。
Q5：与KORES合资对外国投资者有何优势？
合资通常可获得：①政府背书加速审批；②KORES境外矿产网络及政府支持融资；③关键矿物安全保障战略补贴及支持项目优先待遇。但投资者须就治理权、利润分配及退出机制进行充分谈判。
📚 相关文章
📋 韓国法律インサイト | 天然資源・外国投資法
執筆：NOH UJIN 弁護士 | HANBYOL LAW LLC、ソウル
外国投資家のための韓国鉱業・天然資源法ガイド
韓国はタングステン、モリブデン、黒鉛、レアアース元素などの戦略的鉱物資源を保有しており、グローバルな半導体・電池・防衛サプライチェーンにおいて重要な位置を占めています。クリーンエネルギー転換と地政学的サプライチェーン再編を背景に、外国投資家の韓国鉱業セクターへの関心が高まっています。本ガイドでは、鉱業法（광업법）、外国人投資促進法（FIPA）、環境許可、韓国の重要鉱物戦略の最新動向について包括的に解説します。
1. 韓国鉱業法の概要
鉱業活動を規律する主要法令は鉱業法であり、産業通商資源部（MOTIE）が所管します。鉱業法は鉱物資源の国家所有原則を定め、地下鉱物資源は地表土地の所有権に関わらず国家が所有します。民間は許認可制度により採掘権を取得できます。
1.1 採掘権の種類
| 権利の種類 | 内容 | 存続期間 |
|---|
| 探鉱権（탐광권） | 地質調査・試掘を行う権利 | 7年（更新可） |
| 採掘権（채굴권） | 特定区域で指定鉱物を商業採掘する権利 | 20年（更新可） |
| 採取許可 | 小規模・付随的な鉱物採取許可 | 許可に定める期間 |
2. 許認可取得手続
- 韓国法人（株式会社）の設立または支店登録（外国法人は採掘権を直接保有不可）
- FIPAに基づくKOTRAまたは指定外国為替銀行への外国投資申告
- 産業通商資源部への探鉱権/採掘権申請
- 環境影響評価（EIA）の実施（3万㎡以上が対象）
- 森林・農地・保護区域内での土地利用許可取得
- 採掘権の登記および法定期間内の操業開始
3. 韓国の重要鉱物戦略
- 韓国鉱物資源公社（KORES）：国内外の鉱物資源確保を使命とする国有企業。外国鉱業会社との合弁事業を積極的に推進。
- 33種の戦略鉱物指定：リチウム、コバルト、ニッケル、マンガン、黒鉛、REE等を戦略資源に指定し、補助金・税制優遇・優先許認可で国内サプライチェーン整備を支援。
- 韓米重要鉱物MOU（2023年）：IRAの電気自動車バッテリー税額控除においてKOREAN処理鉱物を「友好国」鉱物として認定するための枠組みを提供。
4. 環境・原状回復義務
- 許認可段階で鉱害防止計画の策定・年次更新が必要。
- 韓国鉱害鉱業公団（KOMIR）が管理する鉱害防止基金への拠出が義務付けられており、閉山後30年間の環境修復責任が継続。
- 土壌汚染浄化法により、土壌汚染に対する無過失責任が課される。
5. 採掘権の譲渡・抵当
採掘権は産業通商資源部の承認を条件に譲渡可能。プロジェクトファイナンスの担保として抵当権設定も可能（登記必要）。地表土地権利者との調整・補償義務あり。
📌 公式参考資料
よくある質問（FAQ）
Q1：外国法人が韓国で採掘ライセンスを直接保有できますか？
いいえ。鉱業法により、採掘権は韓国法人が保有する必要があります。外国法人は韓国子会社の設立または支店登録後、採掘権申請が可能となります。
Q2：外国投資が制限される鉱物はありますか？
ウラン採掘は原子力関連法令に基づく政府事前承認が必要で、実質的に私的（特に外国）事業者への制限が設けられています。一部の戦略鉱物は追加の安全保障審査が必要となる場合があります。
Q3：採掘ライセンス取得にはどのくらいの期間が必要ですか？
申請プロセス自体は通常6〜12ヶ月。EIAが必要な場合（3万㎡以上が対象）、全体の許認可期間は2〜3年に及ぶことがあります。
Q4：KORESとの合弁はなぜ有利ですか？
国家の後ろ盾による許認可促進、KORESの海外鉱物ネットワーク・政府支援融資へのアクセス、重要鉱物安全保障戦略補助金・支援プログラムの優先適用などのメリットがあります。ただし、ガバナンス権、利益分配、エグジットメカニズムについて慎重な交渉が必要です。
Q5：韓国への外国鉱業投資家はISDS保護を受けられますか？
はい。韓国は約100のBITおよびFTA投資章を締結しています。外国鉱業投資家は、政府による収用・公正衡平待遇の否定・差別的取扱いがあった場合、ICSID/UNCITRALルールに基づくISDS仲裁を申立てることができます。
📚 関連記事
📋 Perspectiva Legal Coreana | Recursos Naturales e Inversión Extranjera
Por el Abogado NOH UJIN | HANBYOL LAW LLC, Seúl
Derecho Minero y de Recursos Naturales en Corea para Inversores Extranjeros
Corea del Sur posee depósitos estratégicamente vitales de tungsteno, molibdeno, grafito y elementos de tierras raras, fundamentales para las cadenas de suministro globales de semiconductores, baterías y defensa. A medida que crece la demanda mundial de minerales críticos impulsada por la transición energética limpia, los inversores extranjeros muestran un interés creciente en el sector minero coreano. Esta guía proporciona un análisis jurídico completo del marco regulatorio que rige la minería y los recursos naturales en Corea, incluyendo la Ley de Minería (광업법), la Ley de Promoción de la Inversión Extranjera (FIPA), los permisos medioambientales y los últimos avances en la estrategia coreana de minerales críticos.
1. Fundamentos del Derecho Minero Coreano
La Ley de Minería, administrada por el Ministerio de Comercio, Industria y Energía (MOTIE), establece el principio de propiedad estatal de los recursos minerales: todos los depósitos minerales del subsuelo pertenecen al Estado, con independencia de la titularidad del suelo. Los particulares pueden adquirir derechos mineros a través del régimen de concesiones.
1.1 Tipos de Derechos Mineros
| Tipo de Derecho | Descripción | Duración |
|---|
| Concesión de Exploración (탐광권) | Derecho a realizar estudios geológicos y extracción de prueba | 7 años (renovable) |
| Concesión de Explotación (채굴권) | Derecho a extraer comercialmente minerales designados en un área definida | 20 años (renovable) |
| Permiso de Recolección | Autorización de recolección mineral a pequeña escala | Según lo especificado |
2. Procedimiento de Concesión
- Constitución de una entidad jurídica coreana (las empresas extranjeras no pueden ser titulares directas de derechos mineros)
- Notificación de inversión extranjera a KOTRA o banco de divisas autorizado conforme a FIPA
- Solicitud de concesión ante MOTIE
- Evaluación de Impacto Ambiental (EIA) para proyectos de 30.000 m² o más
- Obtención de permisos de uso del suelo en zonas forestales, agrícolas o protegidas
- Registro de la concesión e inicio de operaciones en el plazo legal
3. Estrategia Coreana de Minerales Críticos
- Korea Resources Corporation (KORES): Empresa pública encargada del desarrollo y la seguridad de recursos minerales, tanto nacional como internacionalmente. Con frecuencia establece joint ventures con empresas mineras extranjeras.
- Designación de 33 Minerales Estratégicos: MOTIE ha designado 33 minerales críticos (litio, cobalto, níquel, manganeso, grafito, REE, etc.) como recursos estratégicos, con apoyo mediante subsidios, incentivos fiscales y tramitación acelerada.
- Acuerdo de Minerales Críticos Corea-EE.UU. (2023): Marco para la cooperación bilateral en seguridad de la cadena de suministro de minerales, con provisiones de incentivos bajo la Ley de Reducción de la Inflación (IRA) para minerales procesados en Corea.
4. Obligaciones Medioambientales y de Restauración
- Elaboración y actualización anual del Plan de Prevención de Daños Mineros.
- Aportaciones obligatorias al Fondo de Prevención de Daños Mineros, gestionado por KOMIR. La responsabilidad medioambiental post-cierre se extiende durante 30 años.
- Responsabilidad objetiva por contaminación del suelo conforme a la Ley de Protección del Medio Ambiente del Suelo.
5. Transmisión y Gravamen de Derechos Mineros
Los derechos mineros son transmisibles con la aprobación de MOTIE. Es posible constituir hipotecas sobre derechos mineros como garantía para la financiación de proyectos, previa inscripción registral. Los derechos mineros están sujetos a los derechos superficiarios existentes, existiendo obligaciones de compensación frente a los propietarios del suelo.
📌 Referencias Oficiales
Preguntas Frecuentes (FAQ)
P1: ¿Puede una empresa extranjera ser titular directa de una concesión minera en Corea?
No. En virtud de la Ley de Minería, los derechos mineros deben ser titularidad de una entidad jurídica coreana. La empresa extranjera debe primero constituir una filial coreana o registrar una sucursal local antes de solicitar una concesión minera.
P2: ¿Existen minerales restringidos a la inversión extranjera?
La minería del uranio está sujeta a requisitos específicos de aprobación gubernamental previa y está efectivamente restringida para operadores privados, especialmente extranjeros. Algunos minerales estratégicos designados pueden requerir revisión de seguridad nacional adicional.
P3: ¿Cuánto tiempo se tarda en obtener una concesión minera en Corea?
El proceso de solicitud en sí suele tardar de 6 a 12 meses. Si se requiere EIA (habitual para proyectos de 30.000 m² o más), el plazo total puede extenderse de 2 a 3 años. Los proyectos de minerales estratégicos pueden acogerse a procedimientos acelerados.
P4: ¿Qué protecciones ISDS están disponibles para los inversores mineros extranjeros?
Corea ha suscrito aproximadamente 100 TBI y capítulos de inversión en TLC (KORUS, Korea-UE, etc.). Los inversores mineros extranjeros pueden invocar arbitraje ISDS (normalmente bajo las reglas CIADI o CNUDMI) si el Gobierno coreano adopta medidas constitutivas de expropiación, denegación de trato justo y equitativo o discriminación.
P5: ¿Qué ventajas ofrece una joint venture con KORES?
Respaldo estatal para agilizar los trámites de concesión; acceso a la red de minerales en el exterior y financiación con apoyo gubernamental de KORES; tratamiento preferente en los programas de subsidios y apoyo de la Estrategia de Seguridad de Minerales Críticos. No obstante, es esencial negociar cuidadosamente los derechos de gobernanza, el reparto de beneficios y los mecanismos de salida.
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