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ENFORCEMENT DECREE OF THE ACT ON THE AGGRAVATED PUNISHMENT, ETC. OF SPECIFIC ECONOMIC CRIMES

Presidential Decree No. 11381, Mar. 12, 1984

Amended by Presidential Decree No. 12106, Mar. 30, 1987

Presidential Decree No. 12464, jun. 17, 1988

Presidential Decree No. 12600, Dec. 31, 1988

Presidential Decree No. 13328, Mar. 18, 1991

Presidential Decree No. 13870, Mar. 6, 1993

Presidential Decree No. 14438, Dec. 23, 1994

Presidential Decree No. 14915, Feb. 15, 1996

Presidential Decree No. 15761, Apr. 1, 1998

Presidential Decree No. 20674, Feb. 29, 2008

Presidential Decree No. 20947, Jul. 29, 2008

Presidential Decree No. 21615, Jul. 7, 2009

Presidential Decree No. 21744, Sep. 21, 2009

Presidential Decree No. 23535, Jan. 25, 2012

Presidential Decree No. 25435, jun. 30, 2014

Presidential Decree No. 25532, Aug. 6, 2014

 Article 1 (Purpose)
The purpose of this Act is to provide matters delegated under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes and necessary matters for its enforcement: <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 2 (Scope of Loan, etc.)
The term "matters as prescribed by Presidential Decree" in subparagraph 3 of Article 2 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (hereinafter referred to as the "Act") refers to any of the following subparagraphs: <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
1. Sub-lease of foreign capital;
2. Purchase of promissory note;
3. Irrespective of whether it is described as investment and finance, loan, payment, guarantee of payment, cash financing, acquisition of debenture, etc., any act of financing capital or guaranteeing debts by a financial institution under subparagraph 1 of Article 2 of the Act in the course of its business.
 Article 3 (Person Engaged in Supervisory Duties in Supervisory Organization)
The term "any person who is engaged in supervisory duties at the supervisory organization" referred to in Article 12 (2) of the Act means executive officers or employees in either of the following organizations, who are engaged in duties of audit or inspection (including duties of temporary audit or inspection) of the financial institutions under the jurisdiction of the said organizations, and high-ranking officers who are in charge of such duties, and the representatives of the supervisory organizations concerned: <Amended by Presidential Decree No. 15761, Apr. 1, 1998>
1. The Financial Supervisory Service;
2. Mutual Savings and Finance Companies;
3. National Agricultural Cooperatives Federation;
4. National Federation of Fisheries Cooperatives;
5. National Livestock Cooperatives Federation;
6. National Credit Union Federation of Korea;
7. Korean Federation of Community Credit Cooperative;
8. Korea Insurance Corporation.
 Articles 4 through 8 Deleted. <by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 9 (Notification of Investigating Agency, etc.)
(1) If a state action has been instituted against a person who has committed a crime under Article 3, 4 (2) (including a criminal who had attempted but failed to complete a crime), or 5 (4), or 8 of the Act, the chief of a district prosecutor’s office or the chief of district prosecutor’s branch office shall notify the said state action to the Minister of Justice without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(2) The Minister of Justice may request the submission of materials from the head of a relevant agency or an enterprise, if necessary for the control of an economic criminal. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 10 (Agencies and Enterprises Subject to Employment Restrictions)
(1) The term "any financial institution, any institution to which the State or local government contributes wholly or partly in the capital, and any institution which receives any contribution and assistance from the State or local government" under the main body of Article 14 (1) of the Act refers to the agencies in attached Tables 1 through 3.
(2) The term "any enterprise having a close relation with a convicted crime" in the main body of Article 14 (1) of the Act refers to any of the following enterprises:
1. An accomplice (including a person who has committed a crime set forth in Article 6 of the Act, corresponding to the convicted criminal under Article 5 of the Act; hereinafter the same shall apply in this paragraph) of a criminal convicted pursuant to Article 3, 4 (2) (including an attempted crime), Article 5 (4), or 8 of the Act, or an enterprise to which the accomplice’s lineal ascendant or descendent, sibling, or spouse has invested, whose total amount of investment accounts for not less than five percent of the total amount of stocks issued or invested;
2. An enterprise in which the accomplice convicted under Article 3 (4) 2 (including an attempted crime), Article 5 (4) or 8 of the Act was employed at the time of committing the crime, or is currently employed as an executive officer or a supervisory staff at a position not lower than the manager of department;
3. An enterprise which has gained profits through a criminal act that has been found guilty under Article 3 (4) 2 (including an attempted crime), Article 5 (4) or 8 of the Act;
4. A third person who has acquired financial benefits through a criminal act which has been found guilty under Articles 3, 5 (4) and 8 of the Act or an enterprise to which the third person’s lineal ascendant or descendant, his brother or sister, or spouse has invested, whose total investment amount is not less than the specified amount under subparagraph 1;
5. An enterprise in which a third person prescribed in subparagraph 4 was employed at the time of committing the crime, or is currently employed as an executive officer or a supervisory staff at a position not lower than the manager of department;
6. An enterprise in which an enterprise prescribed in subparagraphs 1 through 5 has invested and the investment amount is not less than the specified amount under subparagraph 1.
 Article 11 (Scope of Government-Licensed Business to which Permission, etc. is Prohibited)
The term "government-licensed business prescribed by Presidential Decree" in 14 (2) of the Article refers to an entity which should obtain permission, authorization, license, registration, designation, approval, and patent (hereinafter referred to as "permission, etc.") from an administrative agency in order to conduct a particular business or activity, and the relevant administrative agency shall be the head of a central administrative agency, the Seoul Special Metropolitan City Mayor, Metropolitan City Mayor, or Do Governor (the relevant administration agency includes subordinate agencies or other agencies which are delegated or entrusted with an authority of permission etc. pursuant to Acts and subordinate statutes).
 Article 12 (Notification of Employment Restriction, etc.)
The Minister of Justice shall always be aware of the results of trial on a person who has committed a crime under Article 3, 4 (2) (including a criminal who had attempted but failed to complete a crime), 5 (4), or 8 of the Act, and where a judgment is made against the person, the Minister of Justice shall notify the convicted person of the restrictions on employment, the prohibition of permission, etc. and the scope of the prohibition under Article 14 (1) and (2) without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 13 (Application for Employment Approval)
(1) A person who desires to obtain employment approval from the Minister of Justice under the proviso of Article 14 (1) of the Act shall submit to the Minister of Justice a written application for employment approval one month before the intended employment date. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(2) Where the Minister of Justice has decided as to whether or not he may approve the employment under the proviso of Article 14 (1) of the Act, he shall notify the applicant of the result without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 14 (Application for Approval concerning Permission, etc. on Government-Licensed Business)
(1) A person who desires to obtain approval from the Minister of Justice under the proviso of Article 14 (2) of the Act in order to operate the government-licensed business under Article 11, shall submit an application for the approval to the head of a competent administrative agency which deals with permission, etc. of a relevant government-licensed business. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(2) A written application for the approval under paragraph (1) shall be accompanied with a copy of the application document concerning permission, etc. of a government-licensed business.
(3) In cases where the head of a competent administrative agency has received an application for the approval under paragraph (1), he shall ascertain that the copy of the application document for the permission, etc. of government-licensed business is not different from the original, and shall send the application for the approval to the Minister of Justice without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
(4) When the Minister of Justice has decided whether or not he may approve the government-licensed business after receiving an application for the approval under paragraph (3), he shall notify the results thereof to the applicant and the head of a competent administrative agency without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 15 (Management of Sensitive Information and Personally Identifiable Information)
(1) The Minister of Justice may manage sensitive information pursuant to Article 23 of the Personal Information Protection Act or data containing resident registration numbers, passport numbers, driver’s license numbers, alien registration numbers pursuant to Article 19 of the Enforcement Decree of the same Act, or any other personal information, if it is necessary for conducting following affairs:
1. Affairs concerning employment approval under the proviso of Article 14 (1) of the Act or approval of permission, etc. under the proviso of paragraph (2) of the same Article;
2. Affairs concerning the request for dismissal or revocation of permission, etc., under Article 14 (4) of the Act;
3. Affairs necessary for conducting the affairs prescribed in paragraphs (1) or (2).
(2) The head of administrative agency in charge of permission, etc. may manage the data containing personal information under paragraph (1), if it is necessary for conducting the affairs concerning the application for approval of permission, etc. pursuant to Article 14 (2) of the Act and Article 14 of the Decree.
[This Article Newly Inserted by Presidential Decree No. 25532, Aug. 6, 2014]
ADDENDUM
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 12106 Mar. 30, 1987>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 12464, Jun. 17, 1988>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 12600, Dec. 31, 1988>
Article 1 (Enforcement Date)
This Decree shall enter into force on April 1, 1989.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 13328, Mar. 18, 1991>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 13870, Mar. 6, 1993>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 14438, Dec. 23, 1994>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 14915, Feb. 15, 1996>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Article 2 Omitted.
ADDENDA <Presidential Decree No. 15761, Apr. 1, 1998>
(1) (Enforcement Date) This Decree shall enter into force on the date of its promulgation.
(2) through (4) Omitted.
ADDENDA <Presidential Decree No. 20674, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 20947, Jul. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on February 4, 2009. (Proviso Omitted.)
Articles 2 through 28 Omitted.
ADDENDUM <Presidential Decree No. 21615, Jul. 7, 2009>
This Decree shall enter into force on August 9, 2009.
ADDENDA <Presidential Decree No. 21744, Sept. 21, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on October 1, 2009.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 23535, Jan. 25, 2012>
Article 1 (Enforcement Date)
This Decree shall enter into force on Jan 26, 2012.
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 25435, Jun. 30, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Presidential Decree No. 25532, Aug. 6, 2014>
This Decree shall enter into force on August 7, 2014.