미국의 외국인 투자규제 대상과 특징 -미국의 외국투자위험심사현대화법(FIRRMA)을 중심으로-

Abstract

On January 13, 2020, the U.S. Treasury Department redefined the jurisdiction and authority of the Committee of Foreign Investment in the United States. And in order to strengthen CFIUS’ screening process for specific transactions and investments, the United States has established the final rules of the Foreign Investment Risk Review Modernization Act of 2018. The U.S. wants to control and block critical technologies against China through FIRRMA. If it loses control of emerging technologies and critical infrastructure, it is feared that there will be risks to the U.S. economy and security. The Trump administration, in particular, is implementing regulations aimed at ‘China Manufacturing 2025.’ The U.S. has implemented tariffs on Chinese products, intellectual property protection policies and a ban on technology transfers. The fight between the U.S. and China over technology hegemony is taking shape through FIRRMA. And it marks the beginning of a new type of global Cold War. FIRRMA, effective February 13, 2020, is a revision to existing rules on specific investments in the United States by foreign. It stipulates compulsory screening procedures for foreign investments and transactions in the United States about businesses to critical technology or critical infrastructure, and sensitive personal data, etc. And the United States has newly enacted screening rules for certain kinds of real estate transactions by foreign countries. This gives CFIUS authority to review certain real estate in the United States in the case of a transfer or purchase of a foreign. FIRRMA reaffirms that CFIUS should examine investments and transactions from foreign for national security protection. In this study, I’d like to review FIRRMA standards and regulatory targets. In particular, I’d like to focus on the covered control transactions, covered investments, U.S. Business and TID U.S. Business. I reviewed the legislative background of FIRRMA and the link between CFIUS and FIRRMA. Specifically, I analyzed U.S. business and control, TID U.S. business, definition and standards of substantial interest of FIRRMA. In conclusion, the purpose of this study is to examine in depth the standards and targets for foreign investment regulations in the United States and to present implications for the Foreign Investment in Korea.