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STATE PROPERTY ACT

Wholly Amended by Act No. 9401, Jan. 30, 2009

Amended by Act No. 9544, Mar. 25, 2009

Act No. 9547, Mar. 25, 2009

Act No. 9711, May 27, 2009

Act No. 9774, jun. 9, 2009

Act No. 10485, Mar. 30, 2011

Act No. 10580, Apr. 12, 2011

Act No. 10682, May 19, 2011

Act No. 10816, Jul. 14, 2011

Act No. 11548, Dec. 18, 2012

Act No. 11821, May 28, 2013

Act No. 12738, jun. 3, 2014

Act No. 13383, jun. 22, 2015

Act No. 14041, Mar. 2, 2016

Act No. 14841, Aug. 9, 2017

Act No. 15286, Dec. 26, 2017

CHAPTER I GENERAL PROVISIONS
 Article 1 (Purpose)
The purpose of this Act is to prescribe fundamental matters concerning State property, thereby ensuring the appropriate protection and efficient administration and disposal of State property.
 Article 2 (Definitions)
The definitions of terms used in this Act shall be as follows: <Amended by Act No. 10485, Mar. 30, 2011>
1. The term "State property" means property falling under any of the subparagraphs of Article 5 (1), which comes to fall under the ownership of the State at a cost to the State, by contributed acceptance, or by operation of statutes or treaties;
2. The term "contributed acceptance" means the gratuitous transfer of ownership of property falling under any of the subparagraphs of Article 5 (1) to the State by a person, other than the State, and acceptance thereof by the State;
3. The term "administration" means any and all activities performed for the purpose of acquiring, operating, keeping, or preserving State property;
4. The term "disposal" means the transfer of ownership of any State property to a person, other than the State, by means of sale, exchange, transfer, entrustment, contribution in kind, etc.;
5. The term "administrative conversion" means transferring the right to manage any State property between general accounts and special accounts/funds or between different special accounts/funds;
6. The term "government-invested corporation" means any corporation in which the government has invested or is to invest, and which is prescribed by Presidential Decree;
7. The term "permission for use" means permitting any person other than the State to use and benefit from any administrative property for a fixed period, whether for a fee or at no charge;
8. The term "loan contract" means any contract or agreement concluded for allowing any person other than the State to use and benefit from any general property for a fixed period, whether for a fee or at no charge;
9. The term "indemnity" means any amount of money imposed on a person who has used, benefited from, or occupied any State property without obtaining permission for use or signing a loan contract (including such persons who have continued to use, benefit from, or occupy any State property without obtaining permission for use or signing a loan contract even though the period for its original permission for use or loan contracts has expired; hereinafter referred to as "person occupying any State property without permission");
10. The term "office of general administration" means the Minister of Strategy and Finance;
11. The term "head of a central government agency, etc." means the head of a central government agency under Article 6 of the National Finance Act (hereinafter referred to as "head of a central government agency") and the person delegated or entrusted with the affairs concerning administration or disposal of general property pursuant to Article 42 (1).
 Article 3 (Basic Principles for Administration and Disposal of State Property)
When the State administers or disposes of any State property, it shall comply with the following principles: <Amended by Act No. 10485, Mar. 30, 2011>
1. It shall be in conformity with the common interests of the entire country;
2. Its acquisition and disposal shall be made to strike a balance;
3. It shall take public values and utility into consideration;
3-2. It shall take economic costs into consideration;
4. It shall follow transparent and efficient procedures.
 Article 4 (Relations with other Acts)
Administration and disposal of any State property shall be subject to conditions prescribed by this Act, unless any special provisions exist in other Acts: Provided, That where the special provisions in other Acts and the Chapter II conflict with each other, those in Chapter II shall prevail.
 Article 5 (Scope of State Property)
(1) The scope of State property is as follows: <Amended by Act No. 11548, Dec. 18, 2012>
1. Real estate and the appurtenances thereof;
2. Vessels, buoys, floating bridges, floating docks, and aircraft and the appurtenances thereof;
3. Machinery and appliances prescribed by Presidential Decree which are used in government enterprises defined in Article 2 of the Government Enterprise Budget Act (hereinafter referred to as "government enterprises") or in government facilities;
4. Superficies, easements, leasehold rights, mining rights, and other rights equivalent thereto;
5. Securities defined in Article 4 of the Financial Investment Services and Capital Markets Act (hereinafter referred to as "securities");
6. Any of the following rights (hereinafter referred to as "intellectual property"):
(a) Patent rights, utility model rights, design rights, and trademark rights registered under the Patent Act, the Utility Model Act, the Design Protection Act and the Trademark Act;
(b) Copyrights, neighboring copyrights, and rights of database producers provided for in the Copyright Act, and other rights protected by the same Act and registered with the Korea Copyright Commission pursuant to Articles 53 and 112 (1) of the same Act (hereinafter referred to as "copyright, etc.");
(c) Variety protection rights defined in subparagraph 4 of Article 2 of the Act on the Protection of New Varieties of Plants;
(d) Intellectual property rights defined in subparagraph 3 of Article 3 of the Framework Act on Intellectual Property other than the intellectual property rights provided for in items (a) through (c): Provided, That any right not registered under the Copyright Act shall be excluded herefrom.
(2) Machinery and appliances referred to in paragraph (1) 3 that have been generally disused due to the closure of the relevant enterprises or facilities, shall retain their status as State property notwithstanding such closure.
 Article 6 (Classifications and Types of State Property)
(1) State property shall be classified into administrative property and general property, according to its purpose of use.
(2) The types of administrative property are as follows: <Amended by Act No. 11548, Dec. 18, 2012>
1. Property for official use: Property the State directly uses or determines to use for administrative or business purposes or for the residence of public officials (limited to cases prescribed by Presidential Decree as necessary for the performance of their duties) during the period prescribed by Presidential Decree;
2. Property for public use: Property the State directly uses or determines to use for public purposes during the period prescribed by Presidential Decree;
3. Property for government enterprises: Property any government enterprise directly uses or determines to use for administrative or business purposes or for the residence of its personnel (limited to cases prescribed by Presidential Decree as necessary for the performance of their duties) during the period prescribed by Presidential Decree;
4. Property for preservation: Property the State preserves pursuant to statutes, or for other necessities.
(3) The term "general property" means all State property other than administrative property.
 Article 7 (Protection of State Property)
(1) No person shall use or benefit from State property unless he/she complies with the procedures and methods prescribed by this Act or any other Act.
(2) No administrative property shall be subject to acquisition by prescription, notwithstanding the provisions of Article 245 of the Civil Act.
 Article 8 (General Control and Administration of Affairs concerning State Property)
(1) The office of general administration shall have general control over the affairs concerning State property and administer or dispose of the State property (excluding such State property administered and disposed of by the head of a central government agency in accordance with paragraph (3)). <Amended by Act No. 10485, Mar. 30, 2011>
(2) The office of general administration may administer general property by converting it into property for preservation.
(3) The head of a central government agency shall administer or dispose of the State property which belongs either to the special accounts established as prescribed in Article 4 of the National Finance Act or to the funds established as prescribed in Article 5 of the same Act, and the property falling under any of subparagraphs of Article 40 (2). <Amended by Act No. 10485, Mar. 30, 2011>
(4) Where the head of a central government agency intends to use the State property except for the one in paragraph (3) as administrative property, he/she shall obtain approval from the office of general administration as prescribed by Presidential Decree. <Newly Inserted by Act No. 10485, Mar. 30, 2011>
(5) Part of the office of general administration's affairs of administering and disposing of administrative property under this Act may be delegated to the head of each central government agency as prescribed by Presidential Decree. <Newly Inserted by Act No. 10485, Mar. 30, 2011>
 Article 8-2 (Withdrawal of Approval of Use, etc.)
(1) With respect to the administrative property that the office of general administration has approved the use thereof pursuant to Article 8 (4), it may withdraw approval of use after deliberation of the Committee for Examination on State Property Policies in accordance with Article 26 in cases of falling under any of the following subparagraphs:
1. Where it is necessary to achieve administrative objectives of the other State agency;
2. Where it is acknowledged that property has been administered in an illegal or improper manner, according to a report under Article 21 (1) or an audit under paragraph (3) of the same Article;
3. Where it is acknowledged that the withdrawal of approval of use is inevitable on the grounds of illegal or unfair administration of property, etc. as proven by an audit conducted by the Board of Audit and Inspection, except for the cases falling under subparagraph 1 and 2.
(2) In order for the office of general administration to withdraw approval of use in accordance with paragraph (1), it shall inform the head of a central government agency thereof in advance to give him/her an opportunity to present an opinion thereon.
(3) Where the approval of use has been withdrawn in accordance with paragraph (1), the head of a central government agency shall without delay transfer the relevant administrative property to the office of general administration. In such cases, it shall be deemed that the transferred property has fallen into disuse.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 9 (Comprehensive Plan for State Property)
(1) The office of general administration shall notify the head of a central government agency of the guidelines for preparing plans to administer and dispose of State property for the following year by April 30 of each year.
(2) The head of a central government agency shall prepare a plan to manage and dispose of State property for the following year in accordance with the guidelines under paragraph (1), and shall submit it to the office of general administration by June 30 of every year.
(3) The office of general administration shall aggregate and coordinate the plans submitted pursuant to paragraph (2) to prepare a comprehensive plan for State property, receive approval therefor from the President after deliberation of the State Council, and submit the plan to the National Assembly no later than 120 days prior to the beginning of each fiscal year. <Amended by Act No. 11821, May 28, 2013>
(4) The comprehensive plan for State property shall include the following:
1. Mid- to long-term policy direction for the efficient administration/disposal of State property;
2. General plan regarding administration/disposal of State property as prescribed by Presidential Decree;
3. Matters regarding the guidelines for disposal of State property;
4. Matters regarding the comprehensive plans for special cases involving State property under Article 8 of the Act on Regulation of Special Cases of State Property;
5. Other important matters regarding administration/disposal of State property, except for those specified in subparagraphs 1 through 4.
(5) The provision of paragraph (3) shall apply mutatis mutandis to the modification of a comprehensive plan for State property.
(6) Where the office of general administration has confirmed or changed a comprehensive plan for State property in accordance with paragraph (3) and (5), it shall inform the head of a central government agency thereof; and in the case of a change made under paragraph (5), it shall submit the plan to the National Assembly without delay.
(7) The head of a central government agency shall prepare a biannual enforcement plan of the comprehensive plan for State property that has been confirmed under paragraph (3) and submit it to the office of general administration by January 31 of the year concerned.
(8) Where the office of general administration establishes a comprehensive plan for State property in accordance with paragraph (3), it shall respect the opinion of the head of the independent government body prescribed under Article 6 (1) of the National Finance Act (hereinafter referred to as "head of the independent government body") to the fullest extent possible, and in cases where it is inevitable to adjust the comprehensive plan due to the operation of policy for State property or other reasons, the office of general administration shall consult with the head of the relevant independent government body in advance.
(9) Notwithstanding the consultation under paragraph (8), when the office of general administration intends to adjust the plan of the independent government body under paragraph (2), the office of general administration shall hear the opinion of the head of the relevant independent government body in the State Council, and when the office of general administration has adjusted the plan, it shall submit to the National Assembly the scale and reason of the adjustment, the opinion of the head of the independent government body on the adjustment, together with the comprehensive plan for State property.
[This Article Wholly Amended by Act No. 10485, Mar. 30, 2011]
 Article 10 (Acquisition of State Property)
(1) The State shall take into account, among other things, the proceeds from the sale of State property and the necessity to reserve them, and endeavor to secure financial resources for the acquisition of State property.
(2) Where the head of a central government agency intends to purchase land or buildings for the use of public property, with financial resources from the special accounts established under Article 4 of the National Finance Act or from the funds established under Article 5 of the same Act, he/she shall consult with the office of general administration.
[This Article Wholly Amended by Act No. 10485, Mar. 30, 2011]
 Article 11 (Restriction on Acquisition of Property for which Private Rights have been Created)
(1) No property for which private rights have been created shall be acquired by the State as State property unless such rights are extinguished: Provided, That the same shall not apply where the property is acquired by a court ruling.
(2) No private right shall be established with respect to State property: Provided, That the same shall not apply to cases prescribed by Presidential Decree in regard of general property.
 Article 12 (Disposal of Ownerless Real Estate)
(1) The office of general administration or the head of a central government agency shall acquire any ownerless real estate as State property. <Amended by Act No. 10485, Mar. 30, 2011>
(2) In acquiring any ownerless real estate as State property under paragraph (1), the office of general administration or the head of a central government agency shall publicly announce that a person with a justifiable right or other interested parties may raise an objection against such acquisition within a prescribed period of not less than six months, as prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(3) If the office of general administration or the head of a central government agency intends to acquire any ownerless real estate, it may file an application for registration of an owner with the competent cadastral office under the Act on Establishment and Management, Etc. of Spatial Data by attaching thereto such documents attesting that a public announcement has been made in accordance with paragraph (2), only when no objection is raised within the period referred to in paragraph (2). <Amended by Act No. 9774, Jun. 9, 2009; Act No. 10485, Mar. 30, 2011; Act No. 12738, Jun. 3, 2014>
(4) Any State property acquired pursuant to paragraphs (1) through (3) shall be prohibited from disposal for ten years from the date of its registration: Provided, That this shall not apply where any special ground prescribed by Presidential Decree exists. <Amended by Act No. 14041, Mar. 2, 2016>
 Article 13 (Contributed Acceptance)
(1) If any person intends to donate his/her property falling under any of the subparagraphs of Article 5 (1) to the State, the office of general administration or the head of a central government agency (applicable only to the cases where the head intends to accept contribution in the form of State property falling under the special accounts or funds) may accept the donation, as prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(2) If it is impractical for the State to administer the property which is to be donated to the State pursuant to paragraph (1), if the State does not requires it, or if the donation is subject to a condition, the office of general administration or the head of a central government agency concerned shall not accept the donation: Provided, That if it falls under any of the following, the donation is not deemed to be subject to a condition: <Amended by Act No. 10485, Mar. 30, 2011>
1. Where the property concerned is donated on condition that the donator, his/her heir or general successor is permitted to use the property to be donated as administrative property free of charge;
2. Where an administrative property ceases to be used, a person who offers a facility to be used as a substitute for the property, his/her heir or general successor donates the substitute facility on the condition that the property falling into disuse under Article 55 (1) 3 is transferred to him/her to the extent of the expenses incurred by him/her.
 Article 14 (Registration, Records, etc.)
(1) When the office of general administration or the head of a central government agency acquires any State property, it shall promptly register, record such property, enter the change of the holder thereof, or take other measures necessary for the preservation of relevant rights, as prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(2) In registering, recording, or entering the change of a holder of any State property, the titleholder shall be the State, and the name of the competent central government agency shall be entered together therewith: Provided, That in cases of depositing securities with a corporation prescribed by Presidential Decree, such corporation is allowed to become the titleholder.
(3) Where the State property is inconsistent with the cadastral record, the head of a central government agency, etc. shall take necessary measures such as the change of registration, division, merger, or change of land category under the Act on the Establishment, Management, etc. of Spacial Data. In such cases, fees under Article 106 of the Act on the Establishment, Management, etc. of Spatial Data shall be exempted. <Newly Inserted by Act No. 14041, Mar. 2, 2016>
 Article 15 (Keeping and Handling Securities)
(1) The office of general administration or the head of a central government agency, etc., shall have the Bank of Korea or such other corporation designated by Presidential Decree (hereinafter referred to as the "Bank of Korea, etc.") keep and handle securities for and on behalf of the State. <Amended by Act No. 10485, Mar. 30, 2011>
(2) The Bank of Korea, etc., shall keep a book on safekeeping and handling of securities and record supply and demand of securities. In such cases, electronic data may be used in lieu of the book and the record of supply and demand of securities.
(3) The Bank of Korea, etc., shall draft reports and statements on the supply and demand of securities, and submit them to the office of general administration and the Board of Audit and Inspection. However, the statement of supply and demand submitted to the Board of Audit and Inspection shall have documentary evidence attached thereto.
(4) The Bank of Korea, etc., shall undergo an inspection by the Board of Audit and Inspection with respect to the supply and demand of securities.
(5) Where the Bank of Korea, etc., has inflicted damage on the State in connection with safekeeping or handling of securities, it shall be liable for such damage under the Civil Act and the Commercial Act.
 Article 16 (Administrative Conversion of State Property)
(1) Administrative conversion of State property shall be made in any of the following methods: <Amended by Act No. 10485, Mar. 30, 2011>
1. In cases of intending to make administrative conversion between general accounts and special accounts/funds: Consultation between the office of general administration and the head of a central government agency to which the relevant special accounts/funds belong;
2. In cases of intending to make administrative conversion between different special accounts/funds: Consultation between heads of each central government agency to which the relevant special accounts/funds belong.
(2) If consultation pursuant to paragraph (1) fails, the office of general administration shall determine the competent head of a central government agency in view of the following matters: <Amended by Act No. 10485, Mar. 30, 2011>
1. How the property concerned is being administered at present and how it will be used;
2. Priority in achieving policy goals of the State.
 Article 17 (Compensatory Administrative Conversion, etc.)
Where an administrative conversion for any State property is made or its use is permitted between different accounts or funds, it shall be made with compensation: Provided, That in cases falling under any of the following subparagraphs, it may be made without any compensation: <Amended by Act No. 10485, Mar. 30, 2011>
1. Where it is required directly for use as roads, rivers, harbors, airports, or public water surfaces, or for any other public purposes;
2. Where it is agreed upon between the office of general administration and the head of a central government agency or between heads of each central government agency that administrative conversion is to be made without any compensation due to a cause falling under any of the following items:
(a) Where it is expected that expenses for the appraisal assessment of the State property to be subject to an administrative conversion will be excessive in comparison to the value of the property concerned;
(b) Where it is impractical to secure the budget for making a compensatory administrative conversion in the form of reciprocal exchanges.
 Article 18 (Prohibition on Constructing Permanent Facilities)
(1) Every person other than the State shall be prohibited from constructing any types of structures, such as buildings and bridges, and other permanent facilities on State property: Provided, That the same shall not apply to any of the following cases: <Amended by Act No. 10485, Mar. 30, 2011; Act No. 14041, Mar. 2, 2016>
1. Where they are constructed on the condition that they be donated;
2. Where they are constructed as public facilities, the ownership of which shall revert to the State pursuant to other statutes;
2-2. Where the relevant property is general property, the purchase price of which is being paid in installments pursuant to Article 50 (2), as prescribed by Presidential Decree;
3. Where they enhance the utility of the State property without disrupting any use of it, and they are deemed necessary by the head of a central government agency, etc. to achieve the purposes of use for the State property under the loan contracts;
4. Where they are developed pursuant to Article 59-2.
(2) Where the construction of permanent facilities is allowed under the proviso to paragraph (1), measures for having such person guarantee the payment of an amount equivalent to the expenses and costs to be incurred in restoring the State property to its original state, including removal of such permanent facilities, shall be taken pursuant to the standards and procedures prescribed by Presidential Decree.
 Article 19 (Consultation on Statutes concerning State Property)
If the head of a central government agency intends to draft, amend, or repeal any statute regulating the administration/disposal of any State property, it shall consult with the office of general administration and the Board of Audit and Inspection on their details. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 20 (Restrictions on Activities of Personnel)
(1) No personnel engaged in duties with regard to State property shall acquire the State property which they handle or exchange such State property for their private property: Provided, That this shall not apply where they obtain permission therefor from the office of general administration or the head of a central government agency. <Amended by Act No. 10485, Mar. 30, 2011>
(2) Any activities in violation of the provisions of paragraph (1) shall be null and void.
CHAPTER II OFFICE OF GENERAL ADMINISTRATION
 Article 21 (Audit by Office of General Administration)
(1) The office of general administration may require the head of a central government agency, etc., to report the status of administration of State property under its jurisdiction or to submit materials in relation thereto. <Amended by Act No. 10485, Mar. 30, 2011>
(2) The head of a central government agency shall report the status of unused administrative property prescribed by Presidential Decree under its jurisdiction to the office of general administration by January 31 of every year. <Amended by Act No. 10485, Mar. 30, 2011>
(3) The office of general administration may audit the current status of State property administration by the head of a central government agency, etc., and that of unused administrative property under its jurisdiction, or take any other necessary measures. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 22 (Request for Abolition of Use, etc. by Office of General Administration)
(1) The office of general administration may request the head of a central government agency to abolish or change the use of any State property under its jurisdiction, and have the head of a central government agency effect an administrative conversion of, or transfer to the office of general administration, the State property concerned. <Amended by Act No. 10485, Mar. 30, 2011>
(2) When the office of general administration intends to take measures prescribed by paragraph (1), it shall notify the head of a central government agency thereof in advance to give him/her an opportunity to present an opinion thereon. <Amended by Act No. 10485, Mar. 30, 2011>
(3) When the head of a central government agency fails to implement abolition of use, etc., under the provisions of paragraph (1) without justifiable grounds, the office of general administration may abolish the use ex officio. <Amended by Act No. 10485, Mar. 30, 2011>
(4) When the use of property has been abolished ex officio pursuant to paragraph (3), it shall be deemed that the approval of use of the administrative property has been withdrawn. <Newly Inserted by Act No. 10485, Mar. 30, 2011>
 Article 23 (Disposal of Disused Property)
The office of general administration may, if deemed necessary, designate methods of disposal of State property which has become general property as a result of the abolition of its use, or take over and directly dispose of such State property.
 Article 24 (Designation of Heads of Central Government Agencies)
With respect to State property which is not under the jurisdiction of any head of a central government agency or of which head of a central government agency having the jurisdiction thereof is not obvious, the office of general administration shall designate the head of a central government agency having jurisdiction.
[This Article Wholly Amended by Act No. 10485, Mar. 30, 2011]
 Article 25 (Delegation or Consignment of General Administrative Duties)
The office of general administration may delegate part of its general administrative duties under this Act to the Administrator of the Public Procurement Service or to the head of a local government, as prescribed by Presidential Decree, or consign such duties to a government-invested corporation or a juristic person designated by Presidential Decree out of those established under special statutes. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 26 (Committee for Examination on State Property Policies)
(1) In order to deliberate on the matters reffered to in each of the following subparagraphs concerning the administration/disposal of State property, the Committee for Examination on State Property Policies (hereinafter referred to as the "Committee") shall be established under the office of general administration: <Amended by Act No. 10485, Mar. 30, 2011>
1. Matters concerning major policy directions for State property;
2. Important matters concerning amendment or repeal of statutes and systems related to State property;
2-2. Matters concerning the withdrawal of approval of use of administrative property under Article 8-2;
3. Important matters concerning establishment and amendment of the comprehensive plan for State property under the provisions of Article 9;
4. Matters concerning the designation of head of a central government agency having jurisdiction pursuant to Article 16 (2) and the ex officio abolition of use under Articles 22 (3);
4-2. Matters concerning the administration/management of the State Property Administration Fund established under Article 26-2;
5. Matters concerning development of general property under the provisions of Article 57;
6. Important matters concerning contribution in kind under the provisions of Article 60;
6-2. Matters concerning establishment, etc., of special cases of State property pursuant to Article 6 of the Act on Regulation of Special Cases of State Property, and concerning examination/estimation of special cases of State property pursuant to Article 7 of the same Act;
7. Other matters deemed important by the office of general administration with regard to the administration/disposal of State property.
(2) The Committee shall be comprised of 20 members or less, including chairpersons. <Amended by Act No. 10485, Mar. 30, 2011>
(3) The Chairperson of the Committee shall be the Minister of Strategy and Finance, and the members of the Committee shall be appointed or commissioned by the Minister of Strategy and Finance from among public officials belonging to the central administrative agency and those persons who have abundant knowledge and experience in matters related to State property. In such cases, members who are not public officials shall constitute a majority of the Committee. <Amended by Act No. 10485, Mar. 30, 2011>
(4) For the efficient management of the Committee, sectorial subcommittees may be established within the Committee. In such cases, deliberation by any subcommittee shall be deemed as that of the Committee. <Newly Inserted by Act No. 10485, Mar. 30, 2011>
(5) Other matters necessary for organization and management, etc., of the Committee and the subcommittee, other than those specified in paragraphs (1) through (4), shall be prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
CHAPTER II-2 STATE PROPERTY ADMINISTRATION FUND
 Article 26-2 (Establishment of State Property Administration Fund)
The State Property Administration Fund shall be established in order to enhance usefulness of State property through smooth supply and demand and development of State property, etc.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 26-3 (Raising State Property Administration Fund)
The State Property Administration Fund shall be raised from any of the following financial resources:
1. Money or property contributed by the government;
2. Money transferred from other accounts or funds;
3. Borrowed money under Article 26-4;
4. Revenues related to the general property (excluding securities) managed by the office of general administration:
(a) Revenues associated with management of property such as rent and indemnity;
(b) Revenues associated with disposal of property such as selling off, exchange, etc.;
5. With respect to the general property under the jurisdiction of the office of general administration, revenues associated with the administration or disposal pursuant to the development under Article 57;
6. Other than those financial resources under subparagraphs 1 through 5, revenues associated with the administration/management of the State Property Administration Fund.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 26-4 (Borrowing Funds)
(1) Where it is necessary to administer and manage the State Property Administration Fund, the office of general administration may borrow funds, after deliberation of the Committee, from finance companies, etc., or from other accounts or funds at the expense of the State Property Administration Fund. <Amended by Act No. 11548, Dec. 18, 2012>
(2) Where it is necessary to manage the State Property Administration Fund, the office of general administration may borrow funds temporarily at the expense of the State Property Administration Fund. <Newly Inserted by Act No. 11548, Dec. 18, 2012>
(3) Funds temporarily borrowed under paragraph (2) shall be repaid within the relevant fiscal year. <Newly Inserted by Act No. 11548, Dec. 18, 2012>
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 26-5 (Purposes of State Property Administration Fund)
(1) The State Property Administration Fund shall be used for the purpose falling under any of the following subparagraphs:
1. Payment of the expense necessary for acquisition of State property;
2. Payment of the expense necessary for administration or disposal of the general property under the jurisdiction of the office of general administration;
3. Repayment of principal and interest of the loan under Article 26-4;
4. Payment of entrustment fee, etc., that is necessary for the administration/management of the State Property Administration Fund pursuant to Article 26-6;
5. Payment of entrustment fee or amount of attribution, etc., that is necessary for delegation/entrustment of affairs for administration/disposal of the real estate from among the general property under the jurisdiction of the office of general administration under Article 42 (1);
6. Payment of the expense necessary for the development under Article 57;
7. Transfers to other accounts or funds pursuant to Article 13 of the National Finance Act;
8. Payment of the expense necessary for the administration/management of the State Property Administration Fund, other than for the purposes permitted under subparagraphs 1 through 7.
(2) The property acquired from the State Property Administration Fund shall be deemed to be included in general accounts.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 26-6 (Administration/Management of State Property Administration Fund)
(1) The office of general administration shall manage and operate the State Property Administration Fund.
(2) The office of general administration may entrust part of the affairs concerning administration and management of the State Property Administration Fund to the Korea Asset Management Corporation established under the Act on the Efficient Disposal of Non-Performing Assets, etc. of Financial Companies and the Establishment of Korea Asset Management Corporation (hereinafter referred to as "Korea Assets Management Corporation"), as prescribed by Presidential Decree. <Amended by Act No. 10682, May 19, 2011>
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 26-7 (Accounting Agency of State Property Administration Fund)
(1) The office of general administration shall appoint, from among its public officials, such officials as funds revenue-collection official, funds treasurer, funds disbursement official, and the official in charge of accounts of the funds who are to perform the affairs concerning revenue and expenditure of the State Property Administration Fund.
(2) Where the office of general administration has entrusted part of the affairs concerning administration/management of the State Property Administration Fund to the Korea Asset Management Corporation pursuant to Article 26-6 (2), the office shall appoint directors to be in charge of the fund revenue and of acts giving rise to expenditure by the fund from among the directors of the Korea Asset Management Corporation, and the expenditure and accounting staffs for the fund from among the employees of the Korea Asset Management Corporation, in order to perform accounting of the State Property Administration Fund. In such cases, the directors to be in charge of the fund revenue shall perform the duties of the fund revenue-collection official, the directors to be in charge of acts giving rise to expenditure by the fund shall perform those of the fund treasurer, the fund expenditure staffs shall those of fund disbursement official, and the fund accounting staffs shall those of the public official in charge of accounts of the fund.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
CHAPTER III ADMINISTRATIVE PROPERTY
 Article 27 (Restriction on Disposal)
(1) No administrative property shall be disposed of: Provided, That in cases falling under any of the following subparagraphs, the administrative property may be exchanged or conceded: <Amended by Act No. 10485, Mar. 30, 2011>
1. Where property acquired in exchange for public-owned property or private property is intended to be managed as administrative property;
2. Where the administrative property prescribed by Presidential Decree is conceded to a local government which requires it directly for official or public use.
(2) The provisions of Article 54 (2) through (4) shall apply mutatis mutandis to the property exchanged pursuant to paragraph (1) 1, and the provisions of Article 55 (2) and (3) to the property conceded pursuant to paragraph (1) 2. In such cases, "general property" shall be deemed "administrative property."
(3) Matters relating to confirmation of the exchange referred to in paragraph (1) 1, such as purpose and price of exchange, matters relating to consultation with the office of general administration for mutatis mutandis application of Article 55 (3) regarding the concession referred to in paragraph (1) 2, and other necessary matters shall be prescribed by Presidential Decree.
 Article 27-2 (Appointment of Official in Charge of State Property, etc.)
(1) In order to efficiently perform the affairs concerning the administration or disposal of State property under his/her control, the head of a central government agency shall appoint an official in charge of State property, from among the central government agency’s senior civil officials in a position exercising a general control over planning affairs.
(2) Duties of the official in charge of State property are as follows:
1. Affairs involving planning the administration or disposal of State property under the control of the head of a central government agency under Article 9 (2), and those involving the enforcement plan under paragraph (7) of the same Article;
2. Affairs concerning the report on the administration of State property under Article 69;
3. In addition to those affairs under subparagraphs (1) and (2), affairs as prescribed by Presidential Decree in connection with administration/disposal of State property.
(3) In lieu of the appointment of an official in charge of State property, the head of the central government agency may designate a position in an agency under the control of the central government agency.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 28 (Delegation of Administrative Duties)
(1) The head of a central government agency may delegate administrative duties concerning administrative property under its control to its public officials, as prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(2) The head of a central government agency may appoint a public official to perform part of the duties delegated to the public officials referred to in paragraph (1). <Amended by Act No. 10485, Mar. 30, 2011>
(3) The head of a central government agency may delegate its administrative duties concerning administrative property under its control to public officials of other central government agencies, as prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(4) The head of a central government agency may delegate part of its administrative duties concerning administrative property under its jurisdiction to the head of a local government or public officials thereof, as prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(5) In lieu of the delegation of duties pursuant to paragraphs (1) through (4), the head of a central government agency may designate a position established in the related institution. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 29 (Entrustment of Administration)
(1) When it is necessary for the efficient administration of administrative property, the head of a central government agency may entrust the administration of such property (hereinafter referred to as "entrustment of administration") to a person other than a State agency. <Amended by Act No. 10485, Mar. 30, 2011>
(2) Any person who is entrusted with administration according to the provisions of paragraph (1) may, with the prior approval of the competent head of a central government agency, use and benefit from a portion of the entrusted property, or allow another person to make use of and benefit from it. <Amended by Act No. 10485, Mar. 30, 2011>
(3) Qualifications of persons to be entrusted with administration, period for the entrustment of administration, usage fees of the property of which administration has been entrusted, report on the status of administration, or other necessary matters relating to the entrustment of administration shall be prescribed by Presidential Decree.
 Article 30 (Permission for Use)
(1) The head of a central government agency may grant permission for use any administrative property only to the following extent: <Amended by Act No. 10485, Mar. 30, 2011>
1. Property for official use, property for public use, and property for government enterprises: To an extent not detrimental to its use or purpose;
2. Property for preservation: To the extent necessary for the fulfillment of the preservation purpose.
(2) No person who has been granted permission for use under the provisions of paragraph (1) shall allow another person to make use of and benefit from the relevant property: Provided, That where a person who has been granted permission for use of any donated property happens to be the donator of such property, or his/her heir or other general successor, it is allowed for the person who has been granted permission to have another person make use of and benefit from such property upon approval from the head of a central government agency. <Amended by Act No. 10485, Mar. 30, 2011>
(3) Where it is deemed that the use of and benefit from the property under the proviso to paragraph (2) is detrimental to the relevant use or purpose, or makes it impractical to reinstate, the head of a central government agency shall not grant approval for it. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 31 (Methods of Permission for Use)
(1) Permission for use of any administrative property shall be granted by open competitive bidding after public notice thereof: Provided, That where it is deemed necessary in view of the purpose, nature, size, etc., of permission for use, eligibility to participate in the bidding may be limited, or restrictive tender or private contract may be used, as prescribed by Presidential Decree.
(2) Where open competitive bidding is conducted pursuant to paragraph (1), the invitation to bid, bid opening, and a notice of award of contract shall be made public by using an information processing device which has been designated and announced as such by the office of general administration. In such cases, the head of a central government agency may, when it deems necessary, publish such fact in daily newspapers, etc., as well and collectively make public announcement concerning multiple bidding rounds for the same property. <Amended by Act No. 10485, Mar. 30, 2011>
(3) The provisions of the Act on Contracts to which the State is a Party shall apply mutatis mutandis to permission for use of administrative property, except as prescribed in this Act.
 Article 32 (Usage Fees)
(1) When permission for use of administrative property is granted, the usage fees shall be collected each year in accordance with the rates and calculation methods specified by Presidential Decree: Provided, That where the annual fees are less than the amount specified by Presidential Decree, the fees for the period of permission for use may be entirely collected at the same time. <Amended by Act No. 14041, Mar. 2, 2016>
(2) Usage fees under paragraph (1) may be paid in installments, as pre- scribed by Presidential Decree. In such cases, where the annual usage fees are equal to or above the amount prescribed by Presidential Decree, guaranty money shall be deposited or a performance guarantee shall be provided by the person who is granted permission for use within the limit of the amount prescribed by Presidential Decree when such permission is granted (including cases of renewal of permission).
(3) If the head of a central government agency delegates its duties concerning permission for use under Article 30 to the head of a local government, Article 42 (6) shall apply mutatis mutandis. <Amended by Act No. 10485, Mar. 30, 2011>
(4) Where the fees are entirely collected at the same time pursuant to the proviso to paragraph (1), notwithstanding the increase or decrease for the period of permission for use, no fees shall be collected additionally or returned. <Newly Inserted by Act No. 14041, Mar. 2, 2016>
 Article 33 (Adjustment of Usage Fees)
(1) The head of a central government agency may adjust usage fees where a person (a heir or other general successor shall be deemed the same person as his/her predecessor) continuously uses, or benefits from, the same administrative property for over one year within the permitted period of use in cases prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011; Act No. 11548, Dec. 18, 2012>
(2) The method of calculating usage fees for the relevant year, which are adjusted under paragraph (1), shall be prescribed by Presidential Decree.
(3) Paragraphs (1) and (2) shall apply mutatis mutandis to the calculation of relevant usage fees where administrative property subject to the payment of usage fees or occupation fees pursuant to other Acts becomes subject to the payment of usage fees under this Act.
 Article 34 (Exemption from Usage Fees)
(1) In any of the following cases, the head of a central government agency may exempt the relevant usage fees, as prescribed by Presidential Decree: <Amended by Act No. 10485, Mar. 30, 2011>
1. When permission for use of any donated property is granted to the donator, his/her heir or other general successor for the purposes of making it administrative property;
1-2. When a person who plans to build and donate a new building, etc., intends to use the site for the new building, etc., during the period of construction thereof;
2. When permission for use is granted to a local government which intends to directly use the administrative property for official or public use or non-profit public service;
3. When permission for use is granted to a public organization defined by Presidential Decree which intends to directly use the administrative property for non-profit public service.
(2) Where administrative property that has been granted permission for use becomes unusable due to natural disasters or disasters referred to in subparagraph 1 of Article 3 of the Framework Act on the Management of Disasters and Safety, usage fees for the period during which the use of the administrative property was interrupted may be exempted.
 Article 35 (Period for Permission for Use)
(1) The period for permission for use of any administrative property shall be five years or less: Provided, That in cases under Article 34 (1) 1, it shall be within the period wherein the total sum of usage fees reaches the value of the property donated.
(2) With respect to the property, the period for permission under paragraph (1) for which expires, the previous period for permission may be renewable within the extent not exceeding five years, except for the cases prescribed by Presidential Decree: Provided, That such renewal shall be allowed on only one occasion, except for cases where the permission for use of the property may be granted by private contracts.
(3) Any person who intends to renew the permission pursuant to paragraph (2) shall file an application with the head of a central government agency at least one month prior to the expiration of the period of permission. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 36 (Cancellation or Withdrawal of Permission for Use)
(1) If any person who has obtained permission for use of administrative property falls under any of the following subparagraphs, the head of a central government agency may cancel or withdraw such permission: <Amended by Act No. 10485, Mar. 30, 2011>
1. If he/she obtains the said permission by false statements, presentation of defective documentary evidence, or other unlawful means;
2. If he/she allows another person to make use of or benefit from the property for which permission for use has been granted, in violation of Article 30 (2);
3. If he/she neglects the preservation of the said property or violates the purpose of its use;
4. If he/she fails to pay the usage fees within the payment deadline, or fails to deposit guaranty money or provide performance guarantee pursuant to the latter part of Article 32 (2);
5. If he/she has altered the original state of the property for which permission for use has been granted, without obtaining approval from the head of the relevant central government agency.
(2) If the administrative property for which permission for use has been granted is directly required by the State or a local government for official or public use, the head of a central government agency may withdraw such permission. <Amended by Act No. 10485, Mar. 30, 2011>
(3) If a person who has obtained permission for use suffers a loss due to withdrawal referred to in paragraph (2), agencies which intend to use such property shall compensate such person for the loss, as prescribed by Presidential Decree.
(4) The head of a central government agency shall, where it has cancelled or withdrawn permission for use under paragraph (1) or (2), and where a person uses and benefits from the property donated under the proviso to Article 30 (2), notify him/her of the facts of such cancellation or withdrawal. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 37 (Hearings)
If the head of a central government agency intends to cancel or withdraw permission for use of any administrative property pursuant to the provisions of Article 36, it shall hold a hearing thereon. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 38 (Restoration to Original State)
Where the permission period expires or permission for use is revoked or withdrawn pursuant to Article 36, any person who has received permission for use of administrative property shall restore the relevant property to its original state: Provided, That where the head of a central government agency has, in advance, approved alterations thereof, he/she may return it in the altered state. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 39 (Sanctions against Negligence of Administration)
If a person who has received permission for use of any administrative property causes damage to such property by neglecting his/her administrative duties, additional dues may be collected from him/her, pursuant to Presidential Decree, in addition to the usage fees within the limit not exceeding the amount of such usage fees.
 Article 40 (Abolition of Use)
(1) Where administrative property falls under any of the following cases, the head of a central government agency shall abolish the use of the relevant administrative property without delay: <Amended by Act No. 14841, Aug. 9, 2017>
1. Where administrative property is not used for administrative purposes;
2. Where administrative property has not been used for five years from the date of determining its use as administrative property;
3. Where administrative property is necessary for development under Article 57.
(2) If the head of a central government agency abolishes the use of administrative property pursuant to the provisions of paragraph (1), it shall, without delay, transfer the relevant property to the office of general administration: Provided, That this shall not apply to the property falling under any of the following subparagraphs: <Amended by Act No. 10485, Mar. 30, 2011>
1. Property the use of which has been abolished for the purpose of administrative conversion, exchange or transfer;
2. Property prescribed under Article 5 (1) 2;
3. Property located on, and necessary to the operation of, an airport/harbor or industrial complex;
4. Property that the office of general administration has designated as the one to be administered or disposed of by the head of a central government agency or to be transferred by the head of a central government agency to the head of other central government agency.
CHAPTER IV GENERAL PROPERTY
SECTION 1 Common Provisions
 Article 41 (Disposal, etc.)
(1) A general property may be leased or disposed of. <Amended by Act No. 10485, Mar. 30, 2011>
(2) If a building or other facilities not scheduled for any use by the State fall under any of the following, the head of a central government agency, etc. may remove such building or facilities: <Amended by Act No. 10485, Mar. 30, 2011>
1. Where their structures pose a substantial risk to the safety of the public;
2. Where their maintenance and repair costs are excessive in comparison to their property value;
3. Where their removal is deemed unavoidable by the head of a central government agency, etc., due to their location, form, use, deterioration, etc.
 Article 42 (Delegation or Entrustment of Work of Administration or Disposal)
(1) The office of general administration may partially delegate the work to administer and dispose of general property under its jurisdiction, to affiliated public officials, or to the head of the relevant central government agency or its public officials, or to the head of the relevant local government or its public officials, or may entrust such work to government-invested corporations, financial institutions, investment traders, investment brokers, or corporations established under special Acts, as prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(2) The office of general administration may be entrusted with part of the work of administering or disposing of general property provided for in Article 8 (3). <Amended by Act No. 10485, Mar. 30, 2011>
(3) Where the head of a central government agency intends to develop any general property belonging to the special accounts or funds under his/her jurisdiction pursuant to Article 59, he/she may entrust such property by applying mutatis mutandis paragraph (1). <Amended by Act No. 10485, Mar. 30, 2011>
(4) Articles 28 and 29 shall apply mutatis mutandis where the head of a central government agency or an agency to whom the delegation has been made under paragraph (1) administers or disposes of any general property pursuant to paragraph (1). <Amended by Act No. 10485, Mar. 30, 2011>
(5) The office of general administration or the head of a central government agency which has delegated or entrusted his/her or its work of administering or disposing of general property pursuant to paragraphs (1) and (4) may withdraw such delegation or entrustment where it deems that the delegated or entrusted person does the relevant work improperly or where it is necessary to make general property pooled for administration purposes. <Amended by Act No. 10485, Mar. 30, 2011; Act No. 11548, Dec. 18, 2012>
(6) Rent fees, proceeds from sale, gains from development, or indemnity of general property prescribed by Presidential Decree, the administration or disposal of which have been delegated or entrusted pursuant to paragraphs (1) and (4) may be vested in the delegated or entrusted persons, as prescribed by Presidential Decree, notwithstanding Article 17 of the National Finance Act and Article 7 of the Management of the National Funds Act.
 Article 43 (Contract Procedures)
(1) Contracts concerning disposal of general property shall be established by open competitive bidding after public notice thereof: Provided, That where it is deemed necessary in view of the purpose, nature, size, etc., of permission for use, eligibility to participate in the bidding may be limited, or restrictive tender or private contract may be used as prescribed by Presidential Decree and that, in cases of securities, they may be done by means prescribed by Presidential Decree.
(2) In cases of open competitive bidding referred to in paragraph (1), the provisions of Article 31 (2) shall apply mutatis mutandis to the relevant public notice and procedures.
 Article 44 (Pricing of Property to be Disposed of)
The price of general property to be disposed of shall be determined in consideration of the market price, as prescribed by Presidential Decree.
 Article 45 (Pre-Contract for Exploitation, Filling, Reclamation, and Afforestation)
(1) General property may be reserved for loan, sale, or transfer, as prescribed by Presidential Decree, to implement the projects of exploitation, filling, reclamation, or afforestation on the condition of the completion of such projects.
(2) In cases under paragraph (1), the contractor may use or benefit from pre-contracted property or the completed portion of the project during the period for the relevant project at no charge.
(3) Pre-contracts pursuant to paragraph (1) may be rescinded or terminated if the contractor fails to commence the project within the designated period or is deemed unable to complete the project.
(4) If a portion of a pre-contracted project is completed at the time of a rescission or termination pursuant to paragraph (3), all or part of the completed portion may be loaned, sold or transferred to the contractor only if such loan, etc., does not conflict with the public interest.
(5) If the head of a central government agency, etc., intends to conclude a pre-contract for sale or transfer of any property under its control pursuant to the provisions of paragraph (1), it shall consult with the office of general administration. <Amended by Act No. 10485, Mar. 30, 2011>
SECTION 2 Loans
 Article 46 (Loan Periods)
(1) The loan period for general property shall not exceed any of the following: Provided, That in cases of constructing permanent facilities under the proviso to Article 18 (1), it shall not exceed ten years:
1. Land and its fixtures to be afforested: Ten years;
2. Land and its fixtures, other than those in subparagraph 1: Five years;
3. Any other property: One year.
(2) With respect to the property, the loan period under paragraph (1) of which has expired, the previous loan contract may be renewed to the extent not exceeding such loan period except for the cases prescribed by Presidential Decree: Provided, That such loan contract may be renewable on only one occasion, except for cases where the loan is rendered by means of a private contract.
(3) Any person who intends to renew the loan contract under the provisions of paragraph (2) shall file an application with the head of a central government agency, etc., at least one month prior to the expiry of the loan period. <Amended by Act No. 10485, Mar. 30, 2011>
(4) Notwithstanding paragraph (1), the loan period of general property developed pursuant to Articles 58 and 59-2 may be set within 30 years, and may be extended only once for up to 20 years. <Newly Inserted by Act No. 14041, Mar. 2, 2016>
 Article 46 (Loan Periods)
(1) The loan period for general property shall not exceed any of the following: Provided, That in cases of constructing permanent facilities under the proviso to Article 18 (1), it shall not exceed ten years: <Amended by Act No. 15286, Dec. 26, 2017>
1. Land and its fixtures to be afforested: Twenty years;
2. A building whose facilities are repaired at the borrower’s expense (limited to cases prescribed by Presidential Decree): Ten years;
3. Land and its fixtures, other than those in subparagraphs 1 and 2: Five years;
4. Any other property: One year.
(2) With respect to the property, the loan period under paragraph (1) of which has expired, the previous loan contract may be renewed to the extent not exceeding such loan period except for the cases prescribed by Presidential Decree: Provided, That such loan contract may be renewable on only one occasion, except for cases where the loan is rendered by means of a private contract.
(3) Any person who intends to renew the loan contract under the provisions of paragraph (2) shall file an application with the head of a central government agency, etc., at least one month prior to the expiry of the loan period. <Amended by Act No. 10485, Mar. 30, 2011>
(4) Notwithstanding paragraph (1), the loan period of general property developed pursuant to Articles 58 and 59-2 may be set within 30 years, and may be extended only once for up to 20 years. <Newly Inserted by Act No. 14041, Mar. 2, 2016>
<<Enforcement Date : Jun. 27, 2018>> Article 46
 Article 47 (Rent, Rescission of Contracts, etc.)
(1) Articles 30 (2), 31 (1) and (2), 32, 33, 34 (1) 2 and 3, 34 (2), 36, and 38 shall apply mutatis mutandis to the restriction on loan, rent, exemption of rent, and rescission or termination of loan contracts, etc., for any general property.
(2) Despite paragraph (1), with respect to rent, all or part of annual rent may be received after converting it into loan deposit, as prescribed by Presidential Decree.
(3) Where the term of a loan expires or a loan agreement is rescinded or terminated, the head of the relevant central government agency, etc., shall return the loan deposit prescribed under paragraph (2). In such cases, if there are rents or utility bills, etc., that the person who made the loan failed to pay, the head of a central government agency shall return the loan deposit after excluding the unpaid amount.
[This Article Wholly Amended by Act No. 10485, Mar. 30, 2011]
 Article 47-2 (Exemption from or Reduction of Rent)
Where the State possesses the other person’s property and the owner of the relevant property possesses the general property at the same time (hereinafter referred to as the "reciprocal possession"), the head of a central government agency may reduce or exempt the owner of the relevant property from a rent of general property in his/her possession.
[This Article Newly Inserted by Act No. 14041, Mar. 2, 2016]
SECTION 3 Sale
 Article 48 (Sale)
(1) General property may be sold in cases other than those falling under any of the following subparagraphs:
1. Where the head of a central government agency requests for approval of use or for administrative conversion of administrative property under Article 8 (4) in order to use the general property for administrative purposes;
2. Where the disposal of general property is restricted pursuant to the National Land Planning and Utilization Act or other Acts;
3. Where the general property belongs to the property subject to the restriction on disposal stipulated in the guidelines for disposal under Article 9 (4) 3, in consideration of the necessity of future administrative purposes, etc.;
4. Where the office of general administration or the head of a central government agency designates it as a property in need of administration by State as prescribed by Presidential Decree, other than the cases under subparagraphs 1 through 3.
(2) Where the head of a central government agency intends to sell off the general property prescribed by Presidential Decree, from among the general property belonging to the special accounts or funds under the control of the central government agency.
[This Article Wholly Amended by Act No. 10485, Mar. 30, 2011]
 Article 49 (Sale by Specifying Uses)
General property may be sold to a purchaser by specifying its use and the period for such use under conditions prescribed by Presidential Decree.
 Article 50 (Payment of Proceeds from Sale)
(1) Proceeds from the sale of any general property shall be paid, as prescribed by Presidential Decree: Provided, That the period for payment may be extended as permitted by Presidential Decree.
(2) If it is deemed impractical to have the proceeds from the sale of general property paid in a lump sum and it is permitted by Presidential Decree, the payment may be made in installments over a period not exceeding 20 years, with interest thereon as prescribed by Presidential Decree in consideration of the one-year fixed deposit interest rate.
 Article 51 (Transfer of Ownership, etc.)
(1) In cases of selling any general property, transfer of the ownership for the relevant property shall be made only after the full payment of the proceeds from the sale of such property.
(2) Notwithstanding the provisions of paragraph (1), if the proceeds from sale shall be paid in installments under the provisions of Article 50 (2), and if it is prescribed by Presidential Decree that the transfer of ownership is essential for the smooth execution of public works projects, etc., ownership may be transferred even before the proceeds from the sale of the relevant property are fully paid. In such cases, necessary measures for securing claims, such as creation of mortgage, shall be taken.
 Article 52 (Rescission of Contracts for Sale)
A contract for the sale of general property may be rescinded in the following cases:
1. If the purchaser fails to make timely payment of the proceeds from sale;
2. If the purchase is based on false statements, presentation of false supporting documents, or the use of other unlawful means by the purchaser;
3. Where a property is sold by specifying its use under Article 49, if the purchaser does not use the property for such designated purpose within the designated period or ceases to use the property for the designated purpose before the end of the designated period.
 Article 53 (Purchase of Buildings, etc.)
Where a contract for sale of general property is rescinded, and where the head of a central government agency notifies of its intent to purchase buildings and other structures installed on the relevant property at a price as determined pursuant to the provisions of Article 44, the relevant owner may not refuse it without justifiable grounds. <Amended by Act No. 10485, Mar. 30, 2011>
SECTION 4 Exchange
 Article 54 (Exchange)
(1) In any of the following cases, land, buildings, fixtures on land, or movable assets which are general property may be exchanged for land, buildings, fixtures on land, or movable assets which are public or private property: <Amended by Act No. 11548, Dec. 18, 2012; Act No. 14041, Mar. 2, 2016>
1. Where it is necessary for the State to directly use it or them as administrative property;
2. Where it is necessary to increase the usefulness of property by making small scale general property pooled for administrative purposes;
3. Where it is impractical to dispose of the relevant property by other methods, including sale, while it is necessary to increase the value and usability of general property;
4. Where it is requested to exchange with the general property in the possession due to any extenuating circumstances prescribed by Presidential Decree, such as being in the state of reciprocal possession, and impractical for the owner of the relevant property to enter and access by the private land only.
(2) The types, prices, etc., of property exchanged pursuant to paragraph (1) may be prescribed by Presidential Decree.
(3) If the properties exchanged pursuant to paragraph (1) differ in value, the difference shall be paid in cash.
(4) When the head of a central government agency, etc., intends to exchange general property, it shall report to the Board of Audit and Inspection. <Amended by Act No. 10485, Mar. 30, 2011>
SECTION 5 Concession
 Article 55 (Concession)
(1) General property may be conceded in any of the following cases: <Amended by Act No. 10485, Mar. 30, 2011; Act No. 11548, Dec. 18, 2012>
1. Where the general property prescribed by Presidential Decree is to be conceded to a local government which intends to directly use it for official or public purposes;
2. Where the property for public purposes converted into general property due to the abolition of its use is to be conceded to the local government or public organization that has paid the cost of maintenance and preservation thereof as prescribed by Presidential Decree, to the extent of such cost;
3. Where the administrative property prescribed by Presidential Decree, which falls into disuse, is to be conceded to a person who provides substitute facilities that has the same use as the property falling into disuse, his/her successor or other general successor to the extent of the cost of providing such facilities;
4. Where the property prescribed by Presidential Decree which needs not to be preserved or utilized by the State and cannot be leased, sold or exchanged, is to be conceded.
(2) If the property transferred pursuant to paragraph (1) 1 is used for a purpose, other than the original purpose for which it is conceded, within ten years from the concession, such concession may be cancelled.
(3) Where the head of a central government agency, etc., intends to concede general property pursuant to paragraph (1), it shall consult with the office of general administration: Provided, That this shall not apply to the concession provided for in paragraph (1) 3. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 55 (Concession)
(1) General property may be conceded in any of the following cases: <Amended by Act No. 10485, Mar. 30, 2011; Act No. 11548, Dec. 18, 2012>
1. Where the general property prescribed by Presidential Decree is to be conceded to a local government which intends to directly use it for official or public purposes;
2. Where the property for public purposes converted into general property due to the abolition of its use is to be conceded to the local government or public organization that has paid the cost of maintenance and preservation thereof as prescribed by Presidential Decree, to the extent of such cost;
3. Where the administrative property prescribed by Presidential Decree, which falls into disuse, is to be conceded to a person who provides substitute facilities that has the same use as the property falling into disuse, his/her successor or other general successor to the extent of the cost of providing such facilities;
4. Where the property prescribed by Presidential Decree which needs not to be preserved or utilized by the State and cannot be leased, sold or exchanged, is to be conceded.
(2) If the property transferred pursuant to paragraph (1) 1 is used for a purpose, other than the original purpose for which it is conceded, within ten years from the concession, such concession may be cancelled.
(3) Where the head of a central government agency, etc., intends to concede general property pursuant to paragraph (1), it shall consult with the office of general administration: Provided, That this shall not apply where general property whose value does not exceed the value prescribed by Presidential Decree is conceded provided for in paragraph (1) 3. <Amended by Act No. 10485, Mar. 30, 2011; Act No. 15286, Dec. 26, 2017>
<<Enforcement Date: Jun. 27, 2018>> Article 55
 Article 56 Deleted. <by Act No. 10485, Mar. 30, 2011>
SECTION 6 Development
 Article 57 (Development)
(1) General property may be loaned or sold after being developed as a source of revenue for the State Property Administration Fund (referring to the construction, large-scale repair, remodeling, etc., under Article 2 of the Building Act; hereinafter the same shall apply) in accordance with the management plan of the State Property Administration Fund, or after being developed in accordance with Articles 58, 59 and 59-2.
(2) In cases of developing general property pursuant to paragraph (1), matters under each of the following subparagraphs shall be considered:
1. Soundness of financial management, such as increase of fiscal revenue;
2. Convenience for the public, such as securing public facilities;
3. Contribution to local development such as improvement of surrounding environments;
4. Other necessities for achieving administrative objectives of the State, other than the matters under subparagraphs 1 through 3.
[This Article Wholly Amended by Act No. 10485, Mar. 30, 2011]
 Article 58 (Trust Development)
(1) General property may be entrusted to a trust operator which handles real estate trusts for its development, as prescribed by Presidential Decree.
(2) If the head of a central government agency intends to develop the general property under the agency's special accounts or funds under the provisions of paragraph (1), it shall consult with the office of general administration as to the selection of a trust operator, trust period, trust fees, limits on the borrowing of funds, use of facilities, etc., under conditions prescribed by Presidential Decree. The same shall also apply in cases of modifying important matters prescribed by Presidential Decree, from among matters consulted upon. <Amended by Act No. 10485, Mar. 30, 2011>
(3) If a person delegated or entrusted with duties for administration/disposal under the provisions of Article 42 (1) intends to develop a property pursuant to paragraph (1), he/she shall obtain approval from the office of general administration for the selection of a trust operator, trust period, trust fees, limits on the borrowing of funds, use of facilities, etc., under conditions prescribed by Presidential Decree. The same shall also apply in cases of modifying important matters prescribed by Presidential Decree, from among approved matters.
(4) Methods of vesting proceeds from the trust in the State pursuant to the provisions of paragraph (1) and other necessary matters shall be prescribed by Presidential Decree.
 Article 59 (Entrusted Development)
(1) Any person delegated or entrusted with the duties for administration and disposal under the provisions of Article 42 (1) and (3) (hereafter in this Article referred to as "trustee") may develop the general property that he/she is entrusted with.
(2) If a trustee intends to develop a property under the provisions of paragraph (1), he/she shall obtain approval therefor from the office of general administration or the head of a central government agency for entrustment period, entrustment fees, limits on the borrowing of funds, use of facilities, etc., under conditions prescribed by Presidential Decree. The same shall also apply in cases of modifying important matters prescribed by Presidential Decree, from among approved matters. <Amended by Act No. 10485, Mar. 30, 2011>
(3) If the head of a central government agency intends to approve development under the provisions of paragraph (2), it shall consult with the office of general administration as prescribed by Presidential Decree. The same shall also apply in cases of modifying important matters prescribed by Presidential Decree, from among matters consulted upon. <Amended by Act No. 10485, Mar. 30, 2011>
(4) Methods of vesting proceeds from entrusted development in the State pursuant to the provisions of paragraph (1) and other necessary matters shall be prescribed by Presidential Decree.
(5) Notwithstanding the provisions of Articles 43, 44, 46, and 47, methods of loan, sale and administration of property pursuant to paragraph (1) may be determined after the trustee consults with the office of general administration or the head of a central government agency. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 59-2 (Development through Participation of Private Sector)
(1) The office of general administration may jointly develop any of the following general property with the private business entities prescribed by Presidential Decree: <Amended by Act No. 14041, Mar. 2, 2016>
1. Property that has not been in use for at least past five years;
2. Property deemed necessary to be developed through the deliberation of the Committee.
(2) The office of general administration may make an investment, in accordance with the management plan for the State Property Administration Fund, in the special purpose company for development of State-owned land that is to be incorporated for the development under paragraph (1) (referring to the investment company pursuant to Article 51-2 (1) 9 of the Corporate Tax Act that needs to be established jointly with private business entities to develop State-owned land; hereinafter the same shall apply), and in the asset management company (referring to the asset management company prescribed by Presidential Decree that has been entrusted from the special purpose company for development of State owned land with performance of affairs on administration/management and disposal of assets; hereinafter the same shall apply). In such cases, the amount of investment by State in the special purpose company for development of State-owned land shall not exceed 30/100 of the capital of the subject company.
(3) A special purpose company for development of State owned land shall not finance its project from the person falling under any of the following subparagraphs (including the persons prescribed by Presidential Decree as related with the following persons) in an amount exceeding 30/100 of the total project cost:
1. Public institutions under the Act on the Management of Public Institutions;
2. Public corporations or similar entities established under special Acts.
(4) Except as otherwise expressly prescribed by this Act, the special purpose company for development of State-owned land and the asset management company shall be governed by the provisions of the Commercial Act.
(5) Where the office of general administration, beyond the scope determined by the management plan for the State Property Administration Fund, intends to enter into a contract that would encumber the State, it shall be authorized by a prior resolution of the National Assembly.
(6) Where the development under paragraph (1) is completed and the purpose of investment is achieved, the office of general administration shall collect the share invested pursuant to paragraph (2) as prescribed by the Minister of Strategy and Finance.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 59-3 (Procedure of Development through Participation of Private Sector)
(1) If the office of general administration intends to develop general property pursuant to Article 59-2, it shall establish a master plan on the development project through participation of private sector including the matters under each of the following subparagraphs (hereinafter referred to as "master plan on development through participation of private sector"):
1. Matters on property to be developed and on purpose of facilities to be developed;
2. Matters on estimated investment amount, construction period, and scale of development project;
3. Matters on the findings of a pre-arranged feasibility study on a project (including a preliminary feasibility study pursuant to Article 38 of the National Finance Act);
4. Matters on recruitment of private business entities;
5. Matters on procedure and method of selecting negotiation partners;
6. Other important matters on development.
(2) The office of general administration shall submit the master plan on development through participation of private sector for deliberation by the Committee after the relevant subcommittee’s deliberation thereon under Article 26 (4).
(3) For the purpose of a specialized deliberation by the Committee under paragraph (2), the office of general administration shall form and operate, as prescribed by the Minister of Strategy and Finance, an advisory group for development through participation of private sector, consisting of those experts in the areas of profit-analysis and technology. In such cases, the advisory group for development through participation of private sector shall submit its written opinion on the master plan on development through participation of private sector to the Committee.
(4) Where the office of general administration intends to change important matters prescribed by Presidential Decree, on the master plan on development through participation of private sector such as criteria and method of selecting negotiation partners, paragraph (2) shall applies mutatis mutandis.
(5) The office of general administration shall publicly recruit and select such private business entities as prescribed in paragraph (1). In such cases, the office shall publicly announce (including the method of posting on internet) the matters on criteria and method, etc. of selecting negotiation partners.
(6) Where a private business entity intends to participate in the development project through participation of private sector that is publicly announced in accordance with paragraph (5), it shall prepare a letter of proposal for the business plan on development through participation of private sector including details of feasibility study, criteria of profit distribution, and other matters prescribed by Presidential Decree (hereinafter referred to as "business proposal") and submit it to the office of general administration.
(7) With respect to the business proposal submitted in accordance with paragraph (6), the office of general administration shall designate negotiation partners after the evaluation by the evaluation group for project development through participation of private sector, where private professionals form the majority, and the deliberation by the Committee.
(8) The office of general administration shall enter into a business agreement in order to promote the development project pursuant to discussion with the negotiation partners designated under paragraph (7). In such cases, matters of restriction on financing business expense under Article 59-2 (3) and on liability upon violation of the requirement of limitation on funding shall be included in the business agreement.
(9) Matters on formation/operation of the evaluation group for development through participation of private sector in accordance with paragraph (7) shall be prescribed by Presidential Decree.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 59-4 (Evaluation of Project of Development through Participation of Private Sector)
(1) The office of general administration shall annually evaluate the progress and performance of the development project through participation of private sector, and report its findings to the Committee.
(2) Where the office of general administration determines that objectives of the development project is unattainable due to violation of Article 59-2 (3) or poor performance of the project, etc., according to the findings of the evaluation under paragraph (1), it shall take necessary measures such as collection of invested share or other measures, following the deliberation of the Committee.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 59-5 (Liability of Compensation of Damage)
When the person who has been designated as a negotiation partner pursuant to Article 59-3 (7) inflicts damage on the State with a false business proposal, he/she shall be liable to compensate the State for such damage.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
SECTION 7 Contributions In Kind
 Article 60 (Contributions in Kind)
The government may contribute general property in kind in cases falling under any of the following subparagraphs:
1. Where the government newly establishes a government invested corporation;
2. Where it is necessary to secure funds to facilitate the business with a proper purpose of a government-invested corporation;
3. Where it is needed for reorganization of the operating system and the management structure of a government-invested corporation.
 Article 61 (Procedures for Contributions in Kind)
(1) When a government-invested corporation intends to receive a contribution in kind under Article 60, it shall file an application with the head of the administrative agency in control of the business of the government-invested corporation pursuant to the relevant statutes (hereinafter referred to as "head of the competent authority") with the following documents attached thereto:
1. Necessity for the contribution in kind;
2. Size and specifications of the property to be invested;
3. Price assessment for the property to be invested;
4. Financial statements and current status of management;
5. Business plans.
(2) If the head of the competent authority receives an application to provide a contribution in kind under paragraph (1), he/she shall review the propriety of such contribution in kind and then request the office of general administration to make the contribution in kind attaching the documents in each subparagraph of paragraph (1) as well as a written opinion on the contribution in kind.
(3) When it is requested to make a contribution in kind under paragraph (2), the office of general administration shall formulate a plan for contribution in kind and obtain approval therefor from the President after deliberation of the State Council.
 Article 62 (Calculation of Value of Contribution)
In cases of contribution in kind under the provisions of Article 60, the value of the contribution for the general property shall be computed pursuant to Article 44: Provided, That if the calculated value of equity securities is less than their par value, the value of contribution shall be the par value of such equity securities.
 Article 63 (Correction of Property Invested, etc.)
When any change has occurred to the property subject to the contribution in kind due to its destruction or damage during the period from the base date for assessment to the contribution date, the office of general administration may correct the property invested or the value of contribution. In such cases, the head of the competent authority shall notify the office of general administration of such change in the property subject to the contribution in kind without delay.
 Article 64 (Acquisition Value of Equity Securities following Contribution in Kind)
The acquisition value of the equity securities to be acquired by the government through contribution in kind shall not exceed the asset value determined by Ordinance of the Ministry of Strategy and Finance: Provided, That such asset value may be substituted with the par value in any case prescribed by Presidential Decree, in which the asset value of the equity securities is less than their par value.
 Article 65 (Exclusion from Application of Commercial Act)
The provisions of Articles 295 (2), 299 (1), 299-2, and 422 of the Commercial Act shall not apply where a government-invested corporation receives contribution in kind pursuant to the provisions of Article 60.
SECTION 8 Dividend Paid to Government
 Article 65-2 (Scope of Application of Company Paying Dividends to Government and Invested Property)
This section shall apply to the dividend paid to the Government (hereinafter referred to as "dividend paid to the Government" in this section) by the companies prescribed by Presidential Decree (excluding the companies that the Government has the share paid in kind pursuant to the Inheritance Tax and Gift Tax Act; hereinafter referred to as "company paying dividends to the Government" in this section) from among the corporations in which the State has share in the form of general accounts, special accounts and of funds as the invested property being administered as State-owned property.
[This Article Newly Inserted by Act No. 10816, Jul. 14, 2011]
 Article 65-3 (Principles concerning Determination of Dividend to Government)
With respect to the companies paying dividends to the Government, which have profits available for dividend calculated pursuant to the Commercial Act or relevant statutes, the office of general administration and the head of a central government agency pursuant to Article 8 shall ensure appropriateness of dividend paid to the Government, taking into account the following:
1. The size of profits subject to dividend payment;
2. Reasonableness of the budget amount for the Government's investment revenue, and the financial condition of the Government;
3. Dividend ratio and dividend payout ratio of each company paying dividends to the Government;
4. Dividend ratio and dividend payout ratio of the private sector's same or similar business field;
5. Management conditions of the company paying dividends to the Government, such as the size of its capital stock, the size of internal funds, debt ratio, net worth ratio under the standards set by the Bank for International Settlements, historical dividend payments, appropriateness of financial resources required for the investment, etc.;
6. Other criteria for determining dividends as prescribed by Presidential Decree.
[This Article Newly Inserted by Act No. 10816, Jul. 14, 2011]
 Article 65-4 (Appropriation, etc., of Budget Bill of Government's Dividend Revenue)
(1) Companies paying dividends to the Government shall submit data that can estimate the Government's dividend revenue to the office of general administration or to the head of a central government agency, as prescribed by Presidential Decree.
(2) The office of general administration or the head of a central government agency shall estimate the following year's Government's dividend revenue based on the data submitted in accordance with paragraph (1), and shall include the estimate in the budget of revenues of the budget bill concerned or in the revenue plan of the management plan for the State Property Administration Fund.
[This Article Newly Inserted by Act No. 10816, Jul. 14, 2011]
 Article 65-5 (Determination of dividend paid to the Government)
(1) Companies paying dividends to the Government shall submit such data relevant to determining dividend paid to the Government to the office of general administration and to the head of a central government agency, respectively, as prescribed by Presidential Decree.
(2) When determining the dividend to be paid to the Government, companies paying dividends to the Government shall consult in advance with the office of general administration and the head of a central government agency, respectively, before undergoing procedures, such as board of directors/shareholders meetings, which are relevant to determining the dividend paid to the Government.
[This Article Newly Inserted by Act No. 10816, Jul. 14, 2011]
 Article 65-6 (Report to National Assembly, etc.)
When the dividend payment by companies paying dividends to the Government is completed, the office of general administration and the head of a central government agency shall report details thereof to the competent Standing Committee of the National Assembly and shall publicly announce such details.
[This Article Newly Inserted by Act No. 10816, Jul. 14, 2011]
CHAPTER IV-2 SPECIAL CASES CONCERNING ADMINISTRATION OR DISPOSAL OF INTELLECTUAL PROPERTY
 Article 65-7 (Permission, etc., for Use of Intellectual Property)
(1) A person who has obtained permission for use or loan (hereinafter referred to as "permission for use, etc.") of intellectual property may allow any third person to use, or benefit from, such intellectual property after obtaining approval therefor from the head of the relevant central government agency, etc., notwithstanding the main sentence of Article 30 (2) and Article 47 (1).
(2) A person who has obtained permission for the use, etc., of copyright, etc., may transform, change, or adapt the relevant work upon obtaining approval therefor from the head of the central government agency, etc., that administers the relevant intellectual property.
[This Article Newly Inserted by Act No. 11548, Dec. 18, 2012]
 Article 65-8 (Method of Granting Permission for Use, etc., of Intellectual Property)
(1) Where the head of a central government agency, etc., intends to grant permission for the use, etc., of intellectual property, he/she shall do so by a private contract, notwithstanding the main sentence of Article 31 (1) and Article 47 (1) and may grant permission to several persons at a time or on several occasions.
(2) No one who obtains permission for use, etc. pursuant to paragraph (1) shall interfere with the utilization of the relevant intellectual property by any third person.
(3) The head of a central government agency, etc., may revoke permission for use, etc., granted to a person who interferes with the utilization of the relevant intellectual property by any third person, in violation of paragraph (2).
(4) Where no person, other than the relevant applicant, intends to obtain permission for use, etc., during the permitted period of use, etc., provided for in Article 65-11 (1) notwithstanding paragraph (1), or where deemed particularly necessary for the efficient administration of intellectual property, the head of a central government agency, etc., may grant permission for use, etc., only to a specific person. In such cases, the method of granting permission for use, etc., shall be as stipulated in the main sentence of Article 31 (1), Article 31 (2) or Article 47 (1).
[This Article Newly Inserted by Act No. 11548, Dec. 18, 2012]
 Article 65-9 (Usage Fees, etc., of Intellectual Property)
(1) When permission for the use, etc., of intellectual property is granted, usage fees or rent shall be collected in an amount prescribed by Presidential Decree by taking into account, among other things, revenue from the relevant intellectual property, notwithstanding Articles 32 (1) and 47 (1).
(2) Articles 33 and 47 (1) shall not apply where a person (a heir or other general successor shall be deemed the same person as his/her predecessor) continuously uses, or benefits from, the same intellectual property.
[This Article Newly Inserted by Act No. 11548, Dec. 18, 2012]
 Article 65-10 (Exemption from or Reduction of Usage Fees or Rent of Intellectual Property)
Except as provided for in Articles 34 (1) and 47 (1), the head of a central government agency, etc., may exempt or reduce the relevant usage fees or rent in any of the following cases, as prescribed by Presidential Decree: <Amended by Act No. 13383, Jun. 22, 2015; Act No. 15286, Dec. 26, 2017>
1. For the increase of income of farmers defined in subparagraph 2 of Article 3 of the Framework Act on Agriculture, Rural Community and Food Industry, and fishermen defined in subparagraph 3 of Article 3 of the Framework Act on Fisheries and Fishing Villages Development, the expansion of exports by small and medium businesses defined in Article 2 of the Framework Act on Small and Medium Enterprises, support for business starters and business re-starters defined in subparagraphs 2 and 2-2 of Article 2 of the Support for Small and Medium Enterprises Establishment Act, facilitation of establishment of venture businesses defined in Article 2 (1) of the Act on Special Measures for the Promotion of Venture Businesses, and other cases deemed necessary by the head of a central government agency, etc., to promote national policies equivalent thereto: Exemption;
2. Other cases deemed necessary by the head of a central government agency, etc., to utilize intellectual property for public purposes: Reduction.
[This Article Newly Inserted by Act No. 11548, Dec. 18, 2012]
 Article 65-11 (Permitted Period of Use, etc., of Intellectual Property)
(1) Notwithstanding Article 35 or 46, the permitted period of the use or loan of intellectual property shall be prescribed by Presidential Decree to the extent of five years.
(2) With respect to the intellectual property (excluding intellectual property prescribed by Presidential Decree under the main sentence of Article 35 (2) and Article 46 (2)), the period for permission of use or loan under paragraph (1) for which expires, the permission for use, etc., previously granted may be renewed for a period not exceeding the permitted period of use or loan prescribed under paragraph (1): Provided, That permission for use, etc., granted under Article 65-8 (4) may be renewed only on one occasion.
[This Article Newly Inserted by Act No. 11548, Dec. 18, 2012]
 Article 65-12 (Vesting, etc., of Copyright)
(1) When the head of a central government agency, etc., enters into a contract for production of a work with a person, other than the State, he/she shall stipulate the vesting of copyright to the work in the contract.
(2) Where the head of a central government agency, etc., enters into a contract for collaborative creation with a person, other than the State, the copyright to the end product shall be jointly owned, notwithstanding the main sentence of Article 11 (1), and the shares therein shall be equally divided unless otherwise stipulated: Provided, That the principal agent with whom the copyright is vested, the share ratio, etc., may be otherwise determined taking into consideration the level of contribution to the end product and the characteristics of the subject matter of the contract, such as national security, national defense and diplomatic relations.
(3) When the head of a central government agency, etc., enters into a contract under paragraphs (1) and (2), he/she shall not enter into a contract to the effect that the copyright in the end product is fully vested to a person, other than the State.
[This Article Newly Inserted by Act No. 11548, Dec. 18, 2012]
CHAPTER V ADMINISTRATIVE REGISTRY AND REPORTING
 Article 66 (Administrative Registry and Inspections)
(1) The head of a central government agency, etc., shall keep an administrative registry, the certificates of registered matters, and drawings of State property under its jurisdiction, according to the classifications and types provided for in Article 6. In such cases, the administrative registry of State property may be prepared in the form of electronic data. <Amended by Act No. 10485, Mar. 30, 2011; Act No. 10580, Apr. 12, 2011; Act No. 11548, Dec. 18, 2012>
(2) The head of a central government agency, etc., shall annually inspect the actual status of State property under its jurisdiction and revise the administrative registry referred to in paragraph (1) accordingly. <Amended by Act No. 10485, Mar. 30, 2011>
(3) Matters necessary for preparing the administrative registry referred to in paragraph (1) and for conducting inspections pursuant to paragraph (2) shall be prescribed by Presidential Decree.
(4) The office of general administration shall keep a general registry of State property under the jurisdiction of each central government agency. In such cases, electronic data may be used instead of the general registry. <Amended by Act No. 10485, Mar. 30, 2011>
(5) The office of general administration, the head of a central government agency, or any officials or persons delegated or entrusted with the administrative duties pursuant to Articles 28, 29, and 42 (1) and (3) may, free of charge, request inspection or reproduction of any necessary documents, or issuance of certified copies or abstracts thereof or certificates of registered matters from the heads of the registry offices or other relevant administrative agencies, if necessary for the administration or disposal of State property. <Amended by Act No. 10485, Mar. 30, 2011; Act No. 10580, Apr. 12, 2011>
 Article 67 (Access to Land, etc., Owned by Third Parties)
(1) The head of a central government agency, etc., or employees of the person to whom general affairs has been delegated/entrusted pursuant to Article 25 may perform the delegated/entrusted affairs, or may be permitted to access land, etc., owned by third parties if necessary for the inspection under Article 66 (2). <Amended by Act No. 10485, Mar. 30, 2011>
(2) Any person who intends to have access to land, etc., owned by a third party under paragraph (1) shall make it known to the owner, occupant, or manager of such land, etc., (hereafter in this Article referred to as "interested persons") in advance: Provided, That this shall not apply where the interested persons are unknown.
(3) Interested persons shall be prohibited from refusing or obstructing access referred to in paragraph (1) without justifiable grounds.
(4) The person who intends to get access to land, etc., owned by a third party under paragraph (1) shall carry with him/her a certificate indicating his/her authority and present it to the interested persons.
 Article 68 (Price Assessment, etc.)
Any accounting treatment of State property, including assessment of the price of State property, shall be in conformity with the national accounting standards under Article 11 of the National Accounting Act.
 Article 69 (Reports on Administration of State Property)
(1) The head of a central government agency shall prepare a report on the administration of State property under its control and submit it to the office of general administration by not later than the end of February of the following year. In such cases, matters to be included in the report on the administration of State property shall be prescribed by Presidential Decree. <Amended by Act No. 10485, Mar. 30, 2011>
(2) The office of general administration shall combine the reports on the administration of State property mentioned in paragraph (1) and prepare a comprehensive report on the administration of State property.
(3) The office of general administration shall submit the comprehensive report on the administration of State property mentioned in paragraph (2) to the Board of Audit and Inspection by not later than April 10 of the following year for inspection.
(4) The office of general administration shall submit the comprehensive report on the administration of State property inspected by the Board of Audit and Inspection pursuant to the provisions of paragraph (3) and the audit report made by the Board of Audit and Inspection to the National Assembly by not later than May 31 of the following year.
 Article 70 (Reports on Destruction, etc.)
If any State property under its control is destructed or removed, the head of a central government agency, etc. shall promptly report such fact to the office of general administration and the Board of Audit and Inspection. <Amended by Act No. 10485, Mar. 30, 2011>
 Article 71 (Exclusion from Application)
The provisions of Articles 68 through 70 shall not apply to the property mentioned in Article 5 (1) 2, which is managed by the Minister of Defense, and other property determined by the head of a central government agency through consultations with the office of general administration. <Amended by Act No. 10485, Mar. 30, 2011>
CHAPTER VI SUPPLEMENTARY PROVISIONS
 Article 72 (Collection of Indemnities)
(1) The head of a central government agency, etc., shall collect, from a person occupying any State property without permission, an indemnity equivalent to 120 percent of the usage fees or rent of such State property, as prescribed by Presidential Decree: Provided, That no indemnity shall be collected in any of the following cases: <Amended by Act No. 10485, Mar. 30, 2011; Act No. 10580, Apr. 12, 2011; Act No. 11548, Dec. 18, 2012>
1. If property purchased by a person (including his/her successor or other general successor), who has paid a reasonable price for the purchase in reliance on the registered titleholder named in the certificate of registered matters or in other public record, is later proved to be State property and thus vested to the State;
2. If the State or a local government permits a person to occupy, use, or benefit from State property for a given period due to an inevitable reason, such as countermeasures against a natural disaster.
(2) The payment of an indemnity under paragraph (1) may be deferred, or made in installments, for up to five years, as prescribed by Presidential Decree, in consideration of the circumstances under which the State property is occupied without permission, its use, the financial conditions of the occupant, etc. <Amended by Act No. 9711, May 27, 2009>
(3) Adjustment of usage fees of and rent of State property under Articles 33 and 47 shall not apply to an indemnity collected under paragraph (1).
 Article 73 (Collection of Overdue Charges, etc.)
(1) When a person fails to pay, with regard to any State property, the usage fees, additional dues imposed for the negligence of administration, rent, proceeds from sale, exchange price, or indemnities (excluding any interest accrued thereon where the payment of such indemnities is deferred or made in installments) by their respective due dates, the head of a central government agency, etc., may collect overdue charges, as prescribed by Presidential Decree. In such cases, the period for which the overdue charges are imposed shall not exceed 60 months from the due date. <Amended by Act No. 9711, May 27, 2009; Act No. 10485, Mar. 30, 2011>
(2) When a person fails to pay, with regard to any State property, the usage fees, additional dues imposed for the negligence of administration, rent, indemnities, or overdue charges under the provisions of paragraph (1) by their respective due dates, the head of a central government agency, etc., may collect them by applying mutatis mutandis the provisions of Article 23 of the National Tax Collection Act and the provisions for disposition on arrears of the same Act according to the methods falling under any of the following subparagraphs: <Amended by Act No. 10485, Mar. 30, 2011>
1. The head of a central government agency (in cases of general property, including persons delegated with duties on administration/disposal under the provisions of Article 42 (1); hereinafter in this subparagraph, the same shall apply) may collect them directly, or delegate duties for such collection to the head of the competent tax office or the head of the competent local government (hereinafter referred to as "head of tax office, etc."). In such cases, the head of tax office, etc., which executes the affairs shall be placed under the supervision of the head of a central government agency which has delegated such affairs;
2. A person who has been entrusted with duties for the administration/disposal under the provisions of Article 42 (1) may have the head of the competent tax office, etc., collect them on his/her behalf.
 Article 73-2 (Consultation of Urban Management Plan, etc.)
(1) Where the head of a central government agency or the head of local government, with respect to State-owned property, determines or alters the urban management plan pursuant to the National Land Planning and Utilization Act, or make a restriction on the use and preservation pursuant to other Acts, he/she shall consult in advance with the office of general administration or the head of the relevant central government agency that has control over the State-owned property.
(2) Where the office of general administration or the head of a central government agency, etc., deems necessary to efficiently administer State-owned property and enhance its utility, he/she may request the person authorized to prepare an urban management plan under the National Land Planning and Utilization Act for change of the relevant urban management plan.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 73-2 (Consultation of Urban Management Plan, etc.)
(1) Where the head of a central government agency or the head of local government, with respect to State-owned property, determines or alters the urban management plan pursuant to the National Land Planning and Utilization Act, or make a restriction on the use and preservation pursuant to other Acts, he/she shall consult in advance with the office of general administration or the head of the relevant central government agency that has control over the State-owned property.
(2) Where the head of a central government agency, etc. (including persons to whom affairs regarding management and disposal of State property are delegated or entrusted under other statutes) submits its opinion to a person who intends to authorize or permit development activities involving matters concerning reversion of public facilities that are State property under Article 65 (3) of the National Land Planning and Utilization Act or other Acts, he/she shall consult with the office of general administration in advance, as prescribed by Presidential Decree. <Newly Inserted by Act No. 15286, Dec. 26, 2017>
(3) Where the office of general administration or the head of a central government agency, etc., deems necessary to efficiently administer State-owned property and enhance its utility, he/she may request the person authorized to prepare an urban management plan under the National Land Planning and Utilization Act for change of the relevant urban management plan.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
<<Enforcement Date: Jun. 27, 2018>> Article 73-2
 Article 73-3 (Extinctive Prescription)
(1) The rights of the State for the purpose of a payment of money pursuant to this Act shall be extinguished by the completion of prescription, unless it is exercised for five years.
(2) The extinctive prescription of the rights under Article 73 (2) shall be suspended for any of the following reasons:
1. Notice of payment;
2. Urging;
3. Request for delivery;
4. Seizure.
(3) The extinctive prescription suspended pursuant to paragraph (2) shall be in progress newly from the time when any of the following periods passed:
1. Period of payment pursuant to the notice of payment or the urging;
2. Period of request for delivery;
3. Period up to the cancelation of seizure.
(4) The extinctive prescription under paragraph (1) shall not be in progress in any of the following periods:
1. Period of payment in installments and period of deferment of collection pursuant to this Act;
2. Period of postponement of disposition on default under the National Tax Collection Act;
3. Period of the ongoing litigation by raising the revocation litigation on a fraudulent act under Article 30 of the National Tax Collection Act or the subrogated litigation by a creditor under Article 404 of the Civil Act (cases where the litigation has been rejected, dismissed, or revoked are null and void).
(5) Except for no specific legal provisions otherwise exist with respect to the extinctive prescription on the rights of the State for the purpose of a payment of money pursuant to this Act, the Civil Act and the National Finance Act shall apply.
[This Article Newly Inserted by Act No. 14041, Mar. 2, 2016]
 Article 74 (Removal of Illegal Facilities)
When any person occupies State property or constructs facilities therein without justifiable grounds, the head of a central government agency, etc. may remove such facilities or take other necessary measures by applying mutatis mutandis the Administrative Vicarious Execution Act. <Amended by Act No. 14041, Mar. 2, 2016>
 Article 75 (Additional Dues for Erroneous Payment)
When returning usage fees, rent, proceeds from sale, or indemnities for State property which have been erroneously paid, the State shall repay such fees, etc., and interest accrued thereon as provided by Presidential Decree, for the period from the day following the date on which such erroneous payment is made until the date such fees, etc., are returned.
 Article 76 (Disclosure of Information)
(1) The office of general administration shall disclose information retained and managed by the office through the information disclosure system using information and communication networks for the efficient administration and disposal of State property.
(2) Necessary matters concerning the scope of information to be disclosed and procedures for the disclosure shall be prescribed by Presidential Decree.
 Article 77 (Report on Concealed Property, etc.)
(1) A person who detects concealed State property or ownerless real estate and reports it to the government may be rewarded, as prescribed by Presidential Decree.
(2) If a local government detects concealed State property or ownerless real estate and reports it to the government, such property may be transferred to the reporting local government or the local government may be rewarded, as prescribed by Presidential Decree, within the half of the value of such property.
 Article 78 (Special Cases concerning Voluntary Restitution of Concealed Property, etc.)
If any concealed State property is sold to a person who has acquired it in good faith and thereafter returned such property to the State voluntarily due to a cause falling under any of the following subparagraphs, such person may, notwithstanding the provisions of Article 50, be permitted to purchase the property by installment payments over 12 years or less without interest thereon, or by paying a discounted purchase price in a lump sum after deducting an amount of not more than 80 percent of the purchase price from the original purchase price, as specified by Presidential Decree and differentiated by the reason of his/her return:
1. Voluntary restitution;
2. Settlement in the litigation;
3. Other cause prescribed by Presidential Decree.
 Article 79 (Liability for Compensation)
(1) If any person entrusted with administrative duties for State property pursuant to Article 28 breaches his/her duty and causes damage to the property on purpose or by gross negligence, he/she shall be liable to compensate such damage.
(2) Articles 4 (3) and (4), 6 through 8 of the Act on Liability of Accounting Personnel, Etc. shall apply mutatis mutandis to the liability to compensate under paragraph (1).
 Article 79-2 (Legal Fiction as Public Official in Application of Penalty Provisions)
The members who are not public official, among the members of the Committee, the advisory group for development through participation of private sector pursuant to Article 59-3 (3) and of the evaluation group for development through participation of private sector pursuant to paragraph (7) of the same Article, shall be deemed to be a public official in applying Articles 129 through 132 of the Criminal Act.
[This Article Newly Inserted by Act No. 10485, Mar. 30, 2011]
 Article 80 (Special Cases concerning Liquidation Procedures)
Notwithstanding the provisions of the Commercial Act concerning the power and the convocation or resolution methods, etc., of a general meeting of stockholders or employees, liquidation of a corporation, not less than a half of the equity shares of which is held by the State and which is prescribed by Presidential Decree shall be determined in accordance with the Presidential Decree.
 Article 81 (Liquidation Procedures for Corporation whose Headquarters or Principal Offices are Located in North of Military Demarcation Line)
(1) With respect to the liquidation of corporations whose headquarters or principal offices are located in north above the Military Demarcation Line from among corporations referred to in Article 80, the provisions of the Commercial Act and Article 80 of this Act shall apply mutatis mutandis: Provided, That the provisions of the Commercial Act concerning the following matters shall not apply mutatis mutandis:
1. Registration of dissolution of a corporation;
2. Report and registration of a liquidator;
3. Presentation of a list of property and a balance sheet pursuant to Article 533 of the Commercial Act;
4. Registration upon completion of liquidation.
(2) Where the ownership of the real estate owned by a corporation under liquidation procedures pursuant to paragraph (1) is likely to be transferred to a person who occupies such real estate without permission under Article 245 of the Civil Act, the office of general administration may vest such real estate in the State even before the completion of the liquidation procedures. In such cases, no right of shareholders and other equity holders of the corporation shall be affected in the course of distributing any remaining property after the completion of liquidation.
(3) Where a corporation is liquidated pursuant to paragraph (1), the necessary matters shall be publicly notified pursuant to Presidential Decree.
(4) Where the State entrusts registration for the transfer of ownership on the real estate of the relevant corporation, according to the provisions of paragraph (2) or as a result of the distribution of the remaining property after the completion of liquidation procedures, the registration procedures shall be in accordance with the Presidential Decree, notwithstanding the provisions of the Registration of Real Estate Act.
CHAPTER VII PENAL PROVISIONS
 Article 82 (Penalty Provisions)
A person who uses or benefits from administrative property, in violation of Article 7 (1), shall be punished by imprisonment with labor for not more than two years or by a fine not exceeding ten million won.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation: Provided, That the amended provisions of Article 76 shall enter into force on January 1, 2010.
Article 2 (Repeal of other Acts)
Article 3 (Applicability to Period for Permission for Use and Loan Period)
The amended provisions of the main sentence of Article 35 (1) and the proviso to Article 46 (1) shall be applicable to the permission for use or loan contracts made on or after the date when this Act enters into force.
Article 4 (Applicability to Renewal of Permission for Use and Loan Contracts)
The amended provisions of Articles 35 (2) and 46 (2) shall be applicable to the renewal of the permission for use or loan contracts made on or after the date when this Act enters into force.
Article 5 (Applicability to Indemnity)
Indemnity for which adjustment of usage fees and rent shall not be made under the provisions of Article 72 (3) shall apply, starting from the indemnity for the occupation period without permission after this Act enters into force.
Article 6 (Applicability to Overdue Charges)
The amended provisions of Article 73 (1) shall be applicable to the overdue charges incurred with the due date based on the first notification of payment arriving after this Act enters into force.
Article 7 (Additional Registration of Name of Administrative Offices)
Any miscellaneous property for which the National Tax Office has additionally been registered as its head of a central government agency at the time when the amended State Property Act (Act No. 2950) entered into force, shall be deemed that the Ministry of Finance has additionally been registered as its head of central government agency on the date when such Act entered into force: Provided, That this shall not apply to the property whose proceeds from sale have not been fully paid, or for which alteration registration following the transfer of ownership has not been made after the complete payment of the proceeds from sale.
Article 8 (Transitional Measures concerning Contribution in Kind)
(1) Any contribution in kind made under the former Act on the Contribution In-Kind of State Property (hereafter in this Article, referred to as "former Act") at the time when this Act enters into force shall be deemed made under the provisions of this Act.
(2) An application to make contribution in kind by a government-invested corporation under the former Act at the time when this Act enters into force shall be deemed made under this Act. In such cases, calculation of the amount contributed shall be in conformity with the former Act.
(3) Anything that has been deliberated upon by the State Council under the former Act shall be deemed deliberated upon by the State Council under the provisions of this Act.
Article 9 (Transitional Measures concerning Price Assessment)
Notwithstanding the amended provisions of Articles 68, 69 and 71, the former provisions of Articles 47, 48 and 50 shall apply to roads, rivers, harbors, and public water surfaces, from among property for public use, until the point in time when accounting for social infrastructure as prescribed by the national accounting standards under Article 11 of the National Accounting Act is made.
Article 10 Omitted.
Article 11 (Relations with other Statutes)
(1) Any reference to property for preservation owned by the State by any other statute in force at the time this Act enters into force shall be deemed to be any reference to property for preservation from among administrative property; any reference to miscellaneous property owned by the State shall be deemed to be any reference to general property; any reference to administrative exchange shall be deemed to be any reference to administrative conversion; and any reference to permission for use or benefit from shall be deemed to be any reference to permission for use.
(2) A reference to a provision of the former State Property Act or Act on the Contribution In-Kind of State Property by any other statute in force at the time when this Act enters into force shall be deemed to be a reference to this Act or the corresponding provision hereof in lieu of the former provision, if such a corresponding provision exists herein.
ADDENDA <Act No. 9544, Mar. 25, 2009>
(1) (Enforcement Date) This Act shall enter into force on the date of its promulgation: Provided, That the provisions of paragraph (2) of the Addenda shall enter into force on July 31, 2009.
(2) Omitted.
ADDENDA <Act No. 9547, Mar. 25, 2009>
Article 1 (Enforcement Date)
This Act shall enter into force three months after the date of its promulgation. (Proviso Omitted.)
Articles 2 through 4 Omitted.
ADDENDA <Act No. 9711, May 27, 2009>
(1) (Enforcement Date) This Act shall enter into force on July 31, 2009.
(2) (Applicability to Indemnities) The amended provisions of Article 72 (2) shall be applicable to the indemnities imposed on or after the date this Act enters into force.
ADDENDA <Act No. 9774, Jun. 9, 2009>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation.
Articles 2 through 19 Omitted.
ADDENDA <Act No. 10485, Mar. 30, 2011>
Article 1 (Enforcement Date)
This Act shall enter into force on April 1, 2011.
Article 2 (Special Cases concerning Evaluation of Management of State Property Administration Fund)
The office of general administration shall submit the findings of analyzed evaluation on 2012-2015 fiscal years' management of the State Property Administration Fund to the National Assembly together with the 2015 fiscal year's State report on final accounts.
Article 3 (Applicability to Prohibition of Building Permanent Facilities)
The amended provisions under Article 18 (1) 2-2 shall also apply to the general property that had been paying sales price in installments at the time this Act enters into force.
Article 4 (Applicability to Drafting, etc. of Plan for Management of State Property Administration Fund)
Preparation and submission, etc. of the management plan for the State property administration funds shall apply from that of year 2012.
Article 5 (Applicability to Public Announcement of Blanket Bidding)
The amended provisions of the later part of Article 31 (2) shall apply from the first public announcement of bidding to be made after this Act enters into force.
Article 6 (Applicability to Exemption from Usage Fees)
The amended provisions of Article 34 (1) 1-2 shall also apply to the person who is constructing, at the time of enforcement of this Act, a new building, etc. to donate the same.
Article 7 (Applicability to Loan Deposit)
The amended provisions of Article 47 (2) and (3) shall apply from the first annual rent to be received after January 1, 2012.
Article 8 (Applicability to Consultation, etc. of Urban Management Plan)
The amended provisions of Article 73-2 shall apply from the first case of determining/altering an urban management plan or making restriction on use and preservation pursuant to other Acts, after enforcement of this Act.
Article 9 (Transitional Measures on Approval of Use, etc.)
With respect to the administrative property under the control of the head of each central government agency pursuant to the State Property Act previously effective as at the time of this Act, it shall be deemed that the office of general administration has approved the use of such administrative property by the head of each central government agency.
Article 10 (Transitional Measures concerning Comprehensive Plan for State Property)
Until the comprehensive plan of the year 2012 for State property becomes effective, notwithstanding the amended provisions of Article 9, the previous provisions shall apply.
Article 11 Omitted.
Article 12 (Relationship with Other Statutes)
Where the office of administration or the office of administration, etc. was cited by other statutes (limited to those provisions that are relevant to the State-owned property) as at the time of enforcement of this Act, the citation shall be deemed that other Acts has cited the head of the central government agency or the head of the central government agency, etc. respectively, in lieu of the office of administration or the office of administration, pursuant to this Act.
ADDENDA <Act No. 10580, Apr. 12, 2011>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation. (Proviso Omitted.)
Articles 2 through 5 Omitted.
ADDENDA <Act No. 10682, May 19, 2011>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Articles 2 and 3 Omitted.
ADDENDA <Act No. 10816, Jul. 14, 2011>
(1) (Enforcement Date) This Act shall enter into force three months after the date of its promulgation.
(2) (Applicability) The amended provisions of Article 65-2 through 65-6 shall apply from the distributions to be made upon the first settlement of accounts after enforcement of this Act.
ADDENDA <Act No. 11548, Dec. 18, 2012>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation: Provided, That the amended provisions of Articles 26-4, 66 (1), and 72 (1) 1 shall enter into force on the date of its promulgation, and the amended provisions of Article 6 (2) 1 and 3 shall enter into force one year after the date of its promulgation.
Article 2 (Applicability to Transfer of General Property)
The amended provisions of Article 55 (1) 3 concerning the transfer of general property shall apply from the first administrative property, which is disused after this Act enters into force.
Article 3 (Applicability to Special Exception to Administration or Disposal of Intellectual Property)
The amended provisions of Articles 65-7 through 65-11 shall apply from the first permission for use, etc. of intellectual property granted after this Act enters into force.
Article 4 (Applicability to Reversion of Copyright on Intellectual Property)
The amended provisions of Article 65-12 shall apply from the first contract made after this Act enters into force.
ADDENDA <Act No. 11821, May 28, 2013>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2014.
Articles 2 through 6 Omitted.
ADDENDA <Act No. 12738, Jun. 3, 2014>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promulgation. (Proviso Omitted)
Articles 2 and 3 Omitted.
ADDENDA <Act No. 13383, Jun. 22, 2015>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation. (Proviso Omitted.)
Articles 2 through 4 Omitted.
ADDENDUM <Act No. 14041, Mar. 2, 2016>
This Act shall enter into force on the date of its promulgation: Provided, That the amended provisions of Article 32, 47-2, and 54 (1) 4 shall enter into force one year from the date of its promulgation.
ADDENDUM <Act No. 14841, Aug. 9, 2017>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 15286, Dec. 26, 2017>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation: Provided, That the amended provisions of subparagraph 1 of Article 65-10 shall enter into force on the date of its promulgation.
Article 2 (Transitional Measures concerning Extension of Loan Period)
The previous provisions shall apply to a loan contract concluded or renewed before this Act enters into force, notwithstanding the amended provisions of each subparagraph of Article 46 (1).