The Justice Ministry said yesterday it will allow more dual citizenships in an effort to draw foreign investors and "exceptional talent" in various areas such as the arts and science.
In its new policy report to President Lee Myung-bak, the ministry said it plans to lower the minimum requirement for foreign investors to get dual citizenships starting in 2009.
It will also allow limited dual nationality for those who show exceptional talent in the arts, science and other fields.
Those who have been given foreign nationality due to involuntary circumstances, such as adoption or birth abroad, will also be allowed dual nationality, the ministry said.
Justice Minister Kim Kyung-han put forward a plan to reduce the number of human rights violation cases in law enforcement and to take strong measures against those who unjustly accuse lawful processes of being suppressive.
"We will lead the way in building an advanced state by providing a firm and just legal culture," he said.
The ministry is to revise the bankruptcy law to offer repayment rights to corporations with higher possibilities of revival when they take a loan for working funds.
The trust law will also be revised to allow conversion of trust properties into securities, in order to prevent bankruptcies caused by temporary lack of liquidity.
The Ministry of Government Legislation and the Anti-corruption and Civil Rights Commission also gave new policy briefings to the president.
The Legislation Ministry said it will shorten the usual 120-day legislative period to less than 30 days to speed up legislation of bills needed to help revive the economy and support the livelihoods of the poor.
The civil rights commission reported that all civil petition centers will be unified in order to collect all the opinions of the people.
By Bae Hyun-jung

(tellme@heraldcorp.com)