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The ripple effect of inviting foreign capital is infinite. It brings job creation and the effect of the influx of the population, forms new economic bloc in the corresponding area, and also cotributes economic revitalization in the whole regional economy. Furthermore, it is able to contribute another creation of value-added by increasing foreign reserve nationally. Because of the effect of attracting foreign capital, for such reasons as mentioned, all countires of the world and local autonomous entities are active in attracting foreign capital. Especially, it gets attention as the growth momentum which vitalize the nation and region in the world economic recession. Korea realized that attracting foreign capital is way out of crisis with financial crisis in late 1997, and has made an effort to create free trade zone and support various policies. Korea made an effort to report positivity of inviting foreign capital by offering the better investment environment to foreign capital firm, but the rated result is not that high. Nevertheless, Korea keeps trying for inviting foreign capital and tries to find the solution from attracting Chinese capital. Korea strengthened economic cooperation with China and created "Saemangeum Economic Cooperation Parks, SECP". SECP is to develope city by attracting native and foreign investment with Korea and China. It is necessary to introduct "Real Estate Investment and Immigration System" for success of SECP. Real Estate Investment and Immigration System has positive effects. It creates demand about tourist facilities that would be parcelled out developing tourist attraction, improves development work of tuourist resort in underdeveloped region by promoting additional investment of foreign capital, revitalizes local economy, and attracts foreign tourists. I would like to investigate effectiveness and economic effect of Real Estate Investment and Immigration System that is implemented in the partial areas, and moreover propose remedy that can maximize positive effects of Real Estate Investment and Immigration System for succesful creation of "Saemangeum Economic Cooperation Parks" after compare and analyze Real Estate Investment and Immigration System of the countries (regions) which has implemented it in advance of Korea.
