CHINA SYSTEM · OPERATING LOGIC
Read the concept through its operating structure
The market-access list applies to domestic and foreign actors
The market-access list identifies prohibited or licensed activities for domestic and foreign actors. Filing, qualifications, special zones and post-entry rules may still apply outside it.
The foreign-investment list is a special rule for foreign investors
The foreign-investment list sets pre-entry equity and partner conditions, with national and FTZ versions. Outside it, sector licensing and general regulation still apply.
Security review is a separate test
Foreign-investment security review assesses national-security impact and actual control; it may apply even where a sector is not restricted by a negative list.
Permission to enter is not permission to operate freely
Company formation does not mean unrestricted operations; sector licenses, land and environment, product certification, data, export controls, procurement and platform rules can constrain the model.
Korean firms must align three rule sets with one business model
Before entry, map product, customer, data, capital control, geography and revenue to the universal list, foreign list, security review and sector licenses; FTZ treatment does not automatically scale nationwide.