「TELECOMMUNICATIONS BUSINESS ACT」 line equipment, falls under any of the following, such person shall not be permitted to file for registration of the facilities-based telecommunications business under Article 6 (1): <Amended on Dec. 24, 2018> 1. The State or local governments; 2. Foreign governments or foreign corporations; 3. A corporation, the shares of which are held by a foreign government or a foreign person in excess of the limitation on shareholding under Article 8 (1). (2) Notwithstanding paragraph (1) 1, where a local government intends to implement any of the following non-profit projects for public interest, it may register the facilities-based telecommunications business with the Minister of Science and ICT. In such cases, Article 6 (1) shall apply mutatis mutandis to the standards and procedures for registration, and the financial capabilities under subparagraph 1 of that paragraph may be substituted by a plan for financing the expenses necessary to perform the relevant business: <Newly Inserted on Jul. 18, 2023> 1. Public Wi-Fi (referring to Wi-Fi provided publicly by the State or a local government in public places or other places prescribed by Presidential Decree) business; 2. IoT business to handle local government affairs under Article 13 of the Local Autonomy Act. (3) When the Minister of Science and ICT intends to register the facilities-based telecommunications business prescribed in paragraph (2), he or she may request the relevant local government to undergo evaluation by an external specialized institution regarding the appropriateness, etc. of the relevant business, as prescribed by Presidential Decree. In such cases, the relevant local government shall comply with such request, unless there is a compelling reason not to do so. <Newly Inserted on Jul. 18, 2023> [Title Amended on Dec. 24, 2018; Jul. 18, 2023] Article 8 (Limitations on Shareholding by Foreign Governments or Foreign Persons) (1) A foreign government or foreign person may holds shares (excluding different classes of shares with no voting rights prescribed in Article 344-3 (1) of the Commercial Act, but including voting shares equivalents, such as security depositary receipts, and equity shares; hereinafter the same shall apply) of a facilities-based telecommunications business operator who meets the criteria prescribed by Presidential Decree for the type, installation area, etc. of telecommunications line equipment (referring to a person who has filed for 법제처 7 국가법령정보센터