FRAMEWORK ACT ON SMALL AND MEDIUM ENTERPRISES
Wholly Amended by Act No. 8360, Apr. 11, 2007
Amended by Act No. 8852, Feb. 29, 2008
Act No. 9184, Dec. 26, 2008
Act No. 10952, Jul. 25, 2011
Act No. 12240, Jan. 14, 2014
Act No. 13865, Jan. 27, 2016
Act No. 14367, Dec. 2, 2016
Act No. 14286, Dec. 2, 2016
Act No. 14839, Jul. 26, 2017
The purpose of this Act is to provide for basic matters concerning the direction-setting for small and medium enterprises and measures for fostering small and medium enterprises with the aim of supporting their creative and independent growth, improving their industrial structure, and facilitating the balanced development of the national economy.
| Article 2 (Scope of Small and Medium Entrepreneurs) |
| (1) | Small and medium entrepreneurs eligible for such measures for the development of small and medium enterprises (hereinafter referred to as "policy for small and medium enterprises") shall be those who engage in any of the following businesses (hereinafter referred to as "small and medium business"): <Amended by Act No. 10952, Jul. 25, 2011; Act No. 12240, Jan. 14, 2014; Act No. 13157, Feb. 3, 2015; Act No. 13865, Jan. 27, 2016> |
| 1. | For-profit businesses that meet all of the following requirements: |
| (a) | Sales or total assets, etc. for each industry shall meet the standards set by Presidential Decree; |
| (b) | Actual separation of ownership and management, such as in terms of ownership of shares or an investment relationship, shall meet the standards set by Presidential Decree. |
| 4. | Deleted. <by Act No. 13865, Jan. 27, 2016> |
| (2) | Small and medium enterprises shall be classified into small enterprises and medium enterprises according to the standards for classification, as prescribed by Presidential Decree. |
| (3) | In applying paragraph (1), a small and medium enterprise, which no longer falls within the scope of small and medium enterprises owing to the expansion of its scale, etc., shall be deemed a small and medium enterprise for three years from the year immediately following the year during which such expansion, etc. occurs: Provided, That the foregoing shall not apply where a small and medium enterprise is merged into any company other than a small and medium enterprise or it no longer falls within the scope of small and medium enterprises on any other ground as specified by the Presidential Decree. |
| (4) | Small and medium enterprise cooperatives or any other legal entities, organizations, etc. may be treated as small and medium enterprises pursuant to the Small and Medium Enterprise Cooperatives Act or any other Act, if deemed particularly necessary in light of the characteristics of any policy for small and medium enterprises. |
| Article 3 (Duties of Government, Local Governments, etc.) |
| (1) | The Government shall establish and implement a fundamental and comprehensive policy for small and medium enterprises, tailored to each beneficiary of support, considering innovative capacity, competitiveness level, and growth potential of small and medium enterprises. <Amended by Act No. 10952, Jul. 25, 2011> |
| (2) | Each local government shall reflect regional characteristics in establishing and implementing a policy for small and medium enterprises within its jurisdiction in compliance with the policy under paragraph (1). |
| (3) | The Government and local governments shall endeavor to maximize the effectiveness of support for small and medium enterprises through mutual cooperation and interconnectivity with the policy for small and medium enterprises. <Newly Inserted by Act No. 10952, Jul. 25, 2011> |
| Article 4 (Duties of Small and Medium Entrepreneurs, etc.) |
| (1) | Small and medium entrepreneurs shall secure competitiveness through technical development and management innovation and commit themselves to management transparency and corporate social responsibility, thereby contributing to the national economic development and increase in national welfare. |
| (2) | Small and medium entrepreneurs and persons who have relations with any small and medium enterprise in connection with their business activities shall cooperate with the Government and local governments in implementing the policies for small and medium enterprises. |
[This Article Wholly Amended by Act No. 10952, Jul. 25, 2011]
| Article 5 (Encouragement to Start Business and Diffusion of Entrepreneurial Spirit) |
| (1) | The Government shall take measures necessary to encourage the establishment of new small and medium enterprises and to help new small and medium entrepreneurs to grow and develop their businesses. <Amended by Act No. 10952, Jul. 25, 2011> |
| (2) | The Government shall take measures necessary for small and medium entrepreneurs or persons preparing to start a business to have sound entrepreneurial spirit and pride. <Newly Inserted by Act No. 10952, Jul. 25, 2011> |
| Article 6 (Rationalization of Management and Improvement of Technology) |
| (1) | The Government shall take measures necessary to rationalize the management of small and medium enterprises and upgrade technology and quality, which include guidance and training programs for business management and technology, the promotion of technological development, and standardization. |
| (2) | The Government shall take measures necessary to improve the productivity of small and medium enterprises, which include the modernization of manufacturing facilities and promotion of informatization. |
| Article 7 (Securing Markets) |
| (1) | The Government shall take measures necessary to increase opportunities for small and medium entrepreneurs to receive procurement orders when the Government, local governments, public organizations, Government-invested institutions, etc. procure goods or services. |
| (2) | The Government shall take measures necessary to improve efficiency in distribution, such as modernizing distribution systems, encouraging cooperation in the distribution industry, etc. with the aim of expanding markets for the products manufactured by small and medium enterprises. |
| Article 8 (Cooperation between Small and Medium Enterprises) |
The Government shall take measures necessary to encourage cooperation between small and medium enterprises, such as inducing small and medium enterprises, etc. to cluster together and cooperate with one another.
| Article 9 (Conversion of Business Structure) |
The Government shall take measures necessary to facilitate the incorporation of small and medium enterprises, business conversion, mergers between small and medium enterprises, etc. so that small and medium enterprises can have a more advanced corporate structure.
| Article 10 (Encouragement of Fair Competition and Mutual Growth) |
The Government shall take measures necessary to ensure that small and medium enterprises can cooperate, fairly compete with businesses other than the small and medium enterprises, and pursue mutual growth.
[This Article Wholly Amended by Act No. 10952, Jul. 25, 2011]
| Article 11 (Protection of Business Areas) |
The Government shall take necessary measures to ensure that small and medium entrepreneurs can smoothly secure their business areas in the fields appropriate for the companies of such size.
| Article 12 (Establishment of Mutual Aid System) |
The Government shall take measures necessary to establish a mutual aid system through which small and medium entrepreneurs may be able to help each other to prevent insolvency and lay the foundation for common purchasing, sales activities, etc.
| Article 13 (Organization of Small and Medium Entrepreneurs) |
The Government shall take measures necessary to facilitate the formation of organizations, such as small and medium enterprises’ cooperatives, and rationalizing the management of such organizations to enable small and medium entrepreneurs to assist each other in pursuing their growth and development and enhancing their economic status.
| Article 14 (Facilitation of Internationalization) |
| (1) | The Government shall take measures necessary to promote the exportation and importation by small and medium enterprises, cooperation with foreign companies, etc. to encourage them to go global. |
| (2) | The Government shall take such necessary measures as furnishing information about small and medium enterprises so that they may be able to cope actively with changes in the domestic and overseas economic environment. |
| Article 15 (Support for Securing Workforce) |
The Government shall take measures necessary for small and medium enterprises to stably secure skilled workforce by supplying and training them, improving their working environment and welfare, and raising awareness of small and medium enterprises, etc.
[This Article Wholly Amended by Act No. 10952, Jul. 25, 2011]
| Article 16 (Measures for Small Enterprises) |
The Government shall take measures necessary to improve and develop the management of small enterprises.
| Article 17 (Fostering of Local Small and Medium Enterprises) |
The Government shall foster small and medium enterprises in rural areas and take measures necessary to encourage them to hire females and the disabled.
[This Article Wholly Amended by Act No. 10952, Jul. 25, 2011]
| Article 18 (Legislative and Fiscal Measures) |
The Government shall take legislative and fiscal measures necessary to implement its policy for small and medium enterprises.
| Article 19 (Financial and Tax Measures) |
| (1) | The Government shall take measures necessary to ensure smooth funding for small and medium entrepreneurs, such as facilitation of a proper supply of financial resources and establishment of a credit guarantee system. |
| (2) | The Government may provide tax support, as prescribed by the Acts governing taxation, to ensure an efficient implementation of its policies for small and medium enterprises. |
| Article 19-2 (Formulation of Comprehensive Plan for Fostering Small and Medium Enterprises) |
| (1) | In order to support the development of creative and independent small and medium enterprises, the Government shall formulate a comprehensive plan for fostering small and medium enterprises (hereinafter referred to as “comprehensive plan”) every three years. |
| (2) | The formulation or modification of a comprehensive plan shall go through deliberation by the State Council: Provided, that this shall not apply to modification of minor matters prescribed by Presidential Decree. |
| (3) | A comprehensive plan shall include the following matters: |
| 1. | Basic objectives and direction-setting of policies for fostering small and medium enterprises; |
| 2. | Improvement of systems and statutes related to the fostering of small and medium enterprises; |
| 3. | Rationalizing management and improving technologies of small and medium enterprises; |
| 4. | Securing markets for small and medium enterprises; |
| 5. | Promoting cooperation between small and medium enterprises; |
| 6. | Sophisticating corporate structure of small and medium enterprises; |
| 7. | Promoting fair competition and shared growth; |
| 8. | Supporting small and medium enterprises in their securing of human resources; |
| 9. | Fostering small and medium enterprises located in the regions; |
| 10. | Other matters necessary for fostering small and medium enterprises. |
| (4) | Other matters necessary for the formulation and implementation of a comprehensive plan shall be prescribed by Presidential Decree. |
[This Article Newly Inserted by Act No. 14367, Dec. 2, 2016]
| Article 20 (Formulation of Plans for Fostering Small and Medium Enterprises and Submission of Annual Reports) |
| (1) | The Government shall formulate a plan regarding the policies for fostering small and medium enterprises (hereinafter “foster plan”) pursuant to a comprehensive plan, and submit such plan, along with relevant budget proposals, to the National Assembly by every March. <Amended by Act No. 14367, Dec. 2, 2016> |
| (2) | The Minister of SMEs and Startups shall evaluate the performance and outcomes of the previous year’s foster plan, and submit an annual report, reflecting the evaluation results, to the National Assembly before its regular session. <Amended by Act No. 14839, Jul. 26, 2017> |
| (3) | The head of a central administrative agency in charge of formulation of the foster plan under paragraph (1) and the Minister of SMEs and Startups in charge of evaluation under paragraph (2) may request cooperation from the heads of relevant central administrative agencies or relevant local governments. In such cases, the person so requested shall actively comply therewith, except under extenuating circumstances. <Amended by Act No. 14839, Jul. 26, 2017> |
| (4) | Matters necessary to formulate a foster plan and annual reports shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 10952, Jul. 25, 2011]
| Article 20-2 (Establishment and Operation of Integrated Management System for Small and Medium Enterprise Aid Programs) |
| (1) | The Minister of SMEs and Startups may establish and operate an integrated management system for small and medium enterprise aid programs to integrate and manage the data or information on the status of applications filed by small and medium enterprises, receipt thereof, and records of applications for the small and medium enterprise aid programs (hereinafter referred to as “integrated management system”). <Amended by Act No. 14839, Jul. 26, 2017> |
| (2) | Where deemed necessary for establishing and operating the integrated management system, the Minister of SMEs and Startups may request the heads of central administrative agencies, local governments, credit information collection agencies, or other relevant agencies and groups (hereinafter referred to as “heads of central administrative agencies, etc.”) to provide each of the following data and information and may possess and use the said data and information to the extent necessary to achieve the intended purpose of such provision: <Amended by Act Nos. 14367&14286, Dec. 2, 2016; Act No. 14839, Jul. 26, 2017> |
| 3. | Any of the following taxation information referred to in Article 81-13 of the Framework Act on National Taxes, which is necessary to analyze the effectiveness of support for the enterprises eligible for the policies for small and medium enterprises and whose possession and use are consented to by the person concerned: |
| (b) | Business start date, date of temporary business closure, date of permanent business closure; |
| 4. | Other data and information deemed by the Minister of SMEs and Startups to be necessary for the establishment and operation of an integrated management system. |
| (3) | The heads of central administrative agencies, etc. who are requested to provide data or information pursuant to paragraph (2) shall cooperate therewith, except under extenuating circumstances. |
| (4) | The Minister of SMEs and Startupsmay provide the data and information concerning the integrated management system to the heads of central administrative agencies, etc. who carry out the small and medium enterprise aid programs. <Amended by Act No. 14839, Jul. 26, 2017> |
| (5) | The Minister of SMEs and Startups shall formulate the policy measures necessary for protecting the data and information possessed and used under paragraph (2). <Amended by Act No. 14839, Jul. 26, 2017> |
| (6) | The Minister of SMEs and Startups may establish and operate an organization dedicated to establishing and operating the integrated management system as prescribed by Presidential Decree. <Amended by Act No. 14839, Jul. 26, 2017> |
| (7) | Other matters necessary for establishing and operating the integrated management system shall be prescribed by Presidential Decree. |
[This Article Newly Inserted by Act No. 12240, Jan. 14, 2014]
| Article 20-3 (Analysis and Efficiency of Small and Medium Enterprise Aid Programs) |
| (1) | For the analysis and efficiency of small and medium enterprise aid programs managed through the integrated management system pursuant to Article 20-2 (1) (hereafter referred to as “analysis and efficiency”), the Minister of SMEs and Startups shall implement the following: <Amended by Act No. 14839, Jul. 26, 2017> |
| 1. | Setting the scope, classification, and analysis standards of small and medium enterprise aid programs; |
| 2. | Strengthening the role-sharing and interconnectivity among small and medium enterprise aid programs; |
| 3. | Offering opinions about the system improvement and budget reflection following analysis and efficiency; |
| 4. | Checking redundancy among small and medium enterprise aid programs and preparing measures for improvement thereof; |
| 5. | Analyzing performance of institutions or organizations operating small and medium enterprise aid programs upon entrustment; |
| 6. | Conducting surveys on satisfaction with small and medium enterprise aid programs; |
| 7. | Other matters necessary for the analysis and efficiency. |
| (2) | For the analysis and efficiency, the Minister of SMEs and Startups shall make the most of the data and information of the integrated management system and, if necessary, may request submission of data and information from the head of a central administrative agency, etc. In such cases, the head of a central administrative agency, etc. shall comply therewith unless there is a compelling reason not to do so. <Amended by Act No. 14839, Jul. 26, 2017> |
| (3) | The Minister of SMEs and Startups shall prepare measures for the analysis and efficiency upon consultation with the head of a central administrative agency, etc., and the head of a central administrative agency, etc. shall reflect such measures in the small and medium enterprise aid programs. <Amended by Act No. 14839, Jul. 26, 2017> |
[This Article Newly Inserted by Act No. 13157, Feb. 3, 2015]
| Article 21 (Survey on State of Small and Medium Enterprises) |
| (1) | The Government shall conduct an annual survey to understand the current status of small and medium enterprises, in terms of their activities, funds, human resources, and management, and shall publicly announce the results thereof. In such cases, the Government shall, if necessary to deal with an issue which is similar or related to the status survey in question, carry out an integrated survey by combining each of the following surveys: <Amended by Act No. 13086, Jan. 28, 2015> |
| 5. | Other status surveys prescribed by Presidential Decree. |
| (2) | The Government may entrust the Korea Federation of SMEs, or any organization or institution related to small and medium enterprises, with the task of conducting such status surveys referred to in paragraph (1). |
| (3) | The Government may, if necessary for the status survey under paragraph (1), request small and medium entrepreneurs or related organizations to cooperate by submitting data or state their opinions, etc. In such cases, small and medium entrepreneurs or related organizations so requested shall comply therewith, unless any special ground exists otherwise. |
| (4) | Matters regarding the methods and procedures of the status surveys under paragraph (1) shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 9184, Dec. 26, 2008]
| Article 22 (Establishment of Ombudsman Program for Small and Medium Enterprises) |
| (1) | The Ombudsman program for small and medium enterprises shall be established under the Minister of SMEs and Startups to improve existing regulations that affect the management of small and medium enterprises and to address the difficulties facing small and medium enterprises. <Amended by Act No. 12007, Aug. 6, 2013; Act No. 14839, Jul. 26, 2017> |
| (2) | The Ombudsman for small and medium enterprises shall independently carry out each of the following: <Newly Inserted by Act No. 12007, Aug. 6, 2013> |
| 1. | Discovering and improving regulations that affect small and medium enterprises; |
| 2. | Resolving difficulties arising in connection with the central and local governments, public institutes as prescribed in Article 4 of the Act on the Management of Public Institutions, and the policy funds management institutes for small and medium enterprises (hereinafter referred to as “administrative institute”); |
| 3. | Other affairs prescribed by Presidential Decree which are required to improve related regulations and resolve the difficulties facing small and medium enterprises. |
| (3) | The Ombudsman for small and medium enterprises shall be commissioned by the Prime Minister, upon recommendation of the Minister of SMEs and Startups from among persons with extensive knowledge and experience in the fields of small and medium enterprises and regulations and deliberation by the Regulatory Reform Committee under Article 23 of the Framework Act on Administrative Regulations (hereinafter referred to as "Regulatory Reform Committee"). <Amended by Act No. 14839, Jul. 26, 2017> |
| (4) | The Ombudsman for small and medium enterprises shall prepare a report on his/her activities as an ombudsman and present it to the Regulatory Reform Committee, the State Council, and the National Assembly, by the end of every January. <Amended by Act No. 12007, Aug. 6, 2013> |
| (5) | The provisions of Articles 30 and 32 of the Framework Act on Administrative Regulations shall apply mutatis mutandis to investigations related to the execution of duties by the Ombudsman for small and medium enterprises, opinion hearings, legal status, etc. In such cases, "committee" or "committee members" shall be respectively construed as "Ombudsman for small and medium enterprises." |
| (6) | Where it is found necessary after carrying out the affairs under paragraph (2), the Ombudsman for small and medium enterprises may recommend that the head of the relevant administrative institute improve the matters at issue. <Newly Inserted by Act No. 12007, Aug. 6, 2013> |
| (7) | The Ombudsman for small and medium enterprises may review the execution status of the improvements following the recommendation made under paragraph (6), and where an administrative institute fails to implement the recommendation without good cause, the Ombudsman may publicly announce the details, etc. of such non-compliance. <Newly Inserted by Act No. 12007, Aug. 6, 2013> |
| (8) | To assist the Ombudsman for small and medium enterprises in handling his/her duties and performing activities, a secretariat office shall be established within the Ministry of SMEs and Startups. <Newly Inserted by Act No. 12007, Aug. 6, 2013; Act No. 14839, Jul. 26, 2017>> |
| (9) | Matters necessary for the establishment and operation of the Ombudsman program shall be prescribed by Presidential Decree. |
[This Article Newly Inserted by Act No. 9184, Dec. 26, 2008]
| Article 23 (Presentation of Opinions, etc.) |
| (2) | Administrative agencies related to the presentation of opinions under paragraph (1) shall not put a person who has presented his/her opinions regarding the improvement of regulations at a disadvantage or discriminate against him/her. <Amended by Act No. 10952, Jul. 25, 2011> |
| (3) | If a person who presented opinions under paragraph (1) files a petition, complaining that he/she has suffered a disadvantage or discrimination by the relevant administrative agencies due to the fact that he/she presented opinions, the Ombudsmen for small and medium enterprises may raise a grievance to Anti-Corruption and Civil Rights Commission on his/her behalf. <Newly Inserted by Act No. 10952, Jul. 25, 2011>. |
| (4) | Where a public official-in-charge, etc. is subject to any disciplinary action for any violation committed in the course of performing his/her duties to improve regulations, the Ombudsmen for small and medium enterprises may propose that the disciplinary authority mitigate, or grant immunity from, the disciplinary actions. <Newly Inserted by Act No. 12007, Aug. 6, 2013> |
[This Article Newly Inserted by Act No. 9184, Dec. 26, 2008]
| Article 24 (Administrative Assistance, etc.) |
| (1) | The Minister of SMEs and Startups may, if deemed necessary to support the operation of the Ombudsman for small and medium enterprises, request the State agencies, local governments, public institutions under Article 4 of the Act on the Management of Public Institutions or related corporations or organizations to dispatch public officials or staff under their jurisdiction. <Amended by Act No. 14839, Jul. 26, 2017> |
| (2) | The Minister of SMEs and Startups may provide administrative or financial assistance necessary for the operation of the Ombudsman programs for small and medium enterprises under paragraph (1). <Amended by Act No. 14839, Jul. 26, 2017> |
[This Article Newly Inserted by Act No. 9184, Dec. 26, 2008]
| Article 25 (Designation of Specialized Research Institutes) |
| (1) | The Minister of SMEs and Startups may designate and operate a research institute specializing in research and investigation necessary to formulate, etc. policies for small and medium enterprises (hereinafter referred to as “specialized research institute”). <Amended by Act No. 14839, Jul. 26, 2017> |
| (2) | The Minister of SMEs and Startups may contribute to or subsidize the specialized research institute, within budgetary limits, so as to help the institute to cover expenses incurred in conducting the research and investigation. <Amended by Act No. 14839, Jul. 26, 2017> |
| (3) | Details regarding standards and procedures for designating specialized research institutes, and the operation, etc. thereof shall be prescribed by Presidential Decree. |
[This Article Newly Inserted by Act No. 10952, Jul. 25, 2011]
| Article 26 (Small and Medium Enterprises Week) |
For the purpose of encouraging pride among small and medium entrepreneurs and increasing national awareness of their role and importance for the national economy, one week each year shall be designated as a week for small and medium enterprises.
[This Article Newly Inserted by Act No. 10952, Jul. 25, 2011]
| Article 27 (Presentation of Verification Documents) |
| (1) | A small and medium business entrepreneur who intends to benefit from the policy for small and medium enterprises shall present a document verifying his/her qualifications to central administrative agencies or local governments which implement such policy (hereinafter referred to as “Administration of the Policy for Small and Medium Enterprises”). |
| (2) | The Minister of SMEs and Startups may, where deemed necessary to ascertain whether the intended beneficiary of the policy qualifies as the small and medium entrepreneur under Article 2 of this Act, request relevant central administrative agencies, such as the Financial Services Commission and the National Tax Service, or local governments or public organizations to present documents for verification. <Amended by Act No. 14839, Jul. 26, 2017> |
| (3) | Where the Minister of SMEs and Startups requests submission of a tax report from the Commissioner of the National Tax Service, the Administrator shall specify the following in writing: <Amended by Act No. 14839, Jul. 26, 2017> |
| 1. | The number of regular workers; |
| 3. | Paid-in capital, capital surplus; |
| 4. | Equity capital (total assets ? total debt); |
| 6. | Current shareholder status and current status of investments in other corporations. |
| (4) | A person requested to submit materials under paragraph (2) or (3) shall comply therewith, except under extenuating circumstances. |
[This Article Newly Inserted by Act No. 10952, Jul. 25, 2011]
| Article 28 (Administrative Fines) |
| (1) | A person who is not a small and medium entrepreneur prescribed in Article 2 but benefitted from the policy for small and medium enterprises by submitting false documents under Article 27 (1) shall be punished by an administrative fine of up to five million won. |
| (2) | The administrative fine under paragraph (1) shall be imposed and collected by the head of the Administration of the Policy for Small and Medium Businesses, as prescribed by the Presidential Decree. |
[This Article Newly Inserted by Act No. 10952, Jul. 25, 2011]
ADDENDA
| (1) | (Enforcement Date) This Act shall enter into force on the date of its promulgation. |
| (2) | (Relations with other Statutes) Any citation of the former Framework Act on Small and Medium Enterprises or any provisions thereof by any other statutes at the time this Act enters into force, if any, shall be deemed to be a citation of this Act or corresponding provisions hereof in lieu of the former provisions, if such corresponding provisions exist herein. |
ADDENDA <Act No. 8852, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 7 Omitted.
ADDENDUM <Act No. 9184, Dec. 26, 2008>
This Act shall enter into force three months after the date of its promulgation.
ADDENDUM <Act No. 10952, Jul. 25, 2011>
This Act shall enter into force six months after the date of its promulgation.
ADDENDUM <Act No. 12007, Aug. 6, 2013>
This Act shall enter into force six months after the date of its promulgation.
ADDENDUM <Act No. 12240, Jan. 14, 2014>
This Act shall enter into force three months after the date of its promulgation.
ADDENDA <Act No. 13086, Jan. 28, 2015>
Article 1 (Enforcement Date)
This Act shall enter into force on May 28, 2015. (Proviso Omitted.)
Articles 2 through 8 Omitted.
ADDENDA <Act No. 13157, Feb. 3, 2015>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Article 2 (Transitional Measures regarding Scope of Small and Medium Enterprises)
Where a small and medium enterprise under the former provisions as at the time this Act enters into force no longer falls under the category of small and medium enterprises under the amended provisions of Article 2 (1) 1 (a), it shall be deemed a small and medium enterprise until March 31, 2018, notwithstanding the amended provisions.
ADDENDUM <Act No. 13865, Jan. 27, 2016>
This Act shall enter into force three months after the date of its promulgation.
ADDENDA <Act No. 14286, Dec. 2, 2016>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promulgation: Provided, That... (omitted)... paragraphs (1) and (3) of Article 3 of the Addenda shall enter into force on May 30, 2017.
Articles 2 and 3 Omitted.
ADDENDUM <Act No. 14367, Dec. 2, 2016>
This Act shall enter into force on January 1, 2017.
ADDENDA <Act No. 14839, Jul. 26, 2017>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation: Provided, That the amendments to the Acts amended pursuant to Article 5 of the Addenda, which were promulgated before this Act enters into force but the enforcement dates of which have not yet arrived, shall enter into force on the enforcement dates of the respective Acts.
Articles 2 through 6 Omitted.