Law Viewer

Back Home

ENFORCEMENT DECREE OF THE OVERSEAS CONSTRUCTION PROMOTION ACT

Wholly Amended by Presidential Decree No. 14066, Dec. 31, 1993

Amended by Presidential Decree No. 14438, Dec. 23, 1994

Presidential Decree No. 14447, Dec. 23, 1994

Presidential Decree No. 15296, Feb. 28, 1997

Presidential Decree No. 15581, Dec. 31, 1997

Presidential Decree No. 15844, Jul. 25, 1998

Presidential Decree No. 16081, Dec. 31, 1998

Presidential Decree No. 16188, Mar. 17, 1999

Presidential Decree No. 16953, Aug. 17, 2000

Presidential Decree No. 17186, Mar. 31, 2001

Presidential Decree No. 18312, Mar. 17, 2004

Presidential Decree No. 19463, Apr. 28, 2006

Presidential Decree No. 20257, Sep. 10, 2007

Presidential Decree No. 20506, Dec. 31, 2007

Presidential Decree No. 20722, Feb. 29, 2008

Presidential Decree No. 21563, jun. 26, 2009

Presidential Decree No. 21565, jun. 26, 2009

Presidential Decree No. 21744, Sep. 21, 2009

Presidential Decree No. 22220, jun. 28, 2010

Presidential Decree No. 22615, Jan. 4, 2011

Presidential Decree No. 22626, Jan. 17, 2011

Presidential Decree No. 22897, Apr. 6, 2011

Presidential Decree No. 23956, Jul. 17, 2012

Presidential Decree No. 24443, Mar. 23, 2013

Presidential Decree No. 25050, Dec. 30, 2013

Presidential Decree No. 25168, Feb. 11, 2014

Presidential Decree No. 25292, Apr. 1, 2014

Presidential Decree No. 26302, jun. 1, 2015

Presidential Decree No. 26844, Dec. 31, 2015

Presidential Decree No. 26976, Feb. 11, 2016

Presidential Decree No. 27444, Aug. 11, 2016

Presidential Decree No. 28828, Apr. 24, 2018

Presidential Decree No. 29137, Sep. 4, 2018

CHAPTER I GENERAL PROVISIONS
 Article 1 (Purpose)
The purpose of this Decree is to prescribe matters delegated by the Overseas Construction Promotion Act and matters necessary for the enforcement thereof.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 2 (Types of Overseas Construction Works)
"Works prescribed by Presidential Decree" in subparagraph 2 of Article 2 of the Overseas Construction Promotion Act (hereinafter referred to as the "Act") means the following:
1. Construction works defined in subparagraph 4 of Article 2 of the Framework Act on the Construction Industry;
2. Electrical installation defined in subparagraph 1 of Article 2 of the Electrical Construction Business Act;
3. Information and communications construction projects defined in subparagraph 2 of Article 2 of the Information and Communications Construction Business Act.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 3 (Scope of Overseas Construction Engineering Activities)
"Activities prescribed by Presidential Decree" in subparagraph 3 of Article 2 of the Act means the following:
1. Formulation of urban plans and regional plans;
2. Activities for the establishment of a spatial data system, such as surveys, cadastre, cartography, and waterway surveys.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 4 (Details of Long-Term Master Plans to Promote Overseas Construction, etc.)
(1) A long-term master plan to promote overseas construction in Article 5 (1) of the Act, shall include the following:
1. Analysis of trends in the mid- and long-term overseas construction markets, and prospects for obtaining contracts;
2. Strategies to enter into overseas construction markets by region and by country;
3. Measures to strengthen international competitiveness of overseas construction business entities;
4. Overseas construction policies and measures to support overseas construction.
(2) An annual implementation plan for overseas construction in Article 5 (1) of the Act, shall include the following: <Amended by Presidential Decree No. 28828, Apr. 24, 2018>
1. Policy direction-setting for promotion of overseas construction industry;
2. Outcomes from promoting overseas construction in the previous year;
3. Promotion plans for each major project, and investment plans;
4. Strategies for making forays into overseas construction markets, targeting major countries, either with a strong track record of overseas construction or with potential to emerge as new overseas construction markets;
5. Other matters necessary for promotion of the overseas construction industry.
(3) A promotion plan for overseas construction for each field in Article 5 (2) of the Act, shall include the following:
1. Analysis of trends in overseas construction markets by field;
2. Current status of entry into overseas construction markets by field;
3. Strategies and measures of the Government for entry into overseas construction markets by field;
4. Other matters necessary for assisting entry of overseas construction business entities into overseas markets by field.
(4) The Minister of Land, Infrastructure and Transport may formulate a promotion plan for each field in paragraph (3), by including it in an annual implementation plan for overseas construction in paragraph (2).
(5) In formulating a long-term master plan to promote overseas construction, an annual implementation plan for overseas construction, and a promotion plan for each field under paragraphs (1) through (4) (hereinafter referred to as "master plan to promote overseas construction, etc."), the Minister of Land, Infrastructure and Transport shall gather consensus from the heads of the relevant central administrative agencies and submit it for deliberation by the Overseas Construction Promotion Committee according to Article 17-3 (1) of the Act.
(6) Upon formulating a master plan to promote overseas construction, etc., the Minister of Land, Infrastructure and Transport shall inform the details thereof to the heads of the relevant central administrative agencies.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
CHAPTER II DECLARATION OF OVERSEAS CONSTRUCTION BUSINESS
 Article 5 (Categories of Overseas Construction Business and Qualifications)
(1) The kinds of overseas construction business referred to in Article 6 (1) of the Act (hereinafter referred to as "categories of business") and the details thereof shall be as shown in attached Table 1.
(2) Qualifications for declaration by category of business shall be as shown in attached Table 2.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 6 (Declarations, etc. of Overseas Construction Business)
(1) Each person who intends to make a declaration of overseas construction business shall submit a written declaration of overseas construction business, stating the following matters, to the Minister of Land, Infrastructure and Transport, along with the documents prescribed by Ordinance of the Ministry of Land, Infrastructure and Transport:
1. Category of business;
2. Company name or title;
3. Name (for corporations, the name of its representative);
4. Location of the principal office;
5. Qualifications prescribed in Article 6 (2) of the Act.
(2) The Minister of Land, Infrastructure and Transport shall prepare and keep a register of overseas construction businesses.
(3) When an overseas construction business entity's certificate of declaration of overseas construction business is lost or defaced, it may be reissued to him/her, as prescribed by Ordinance of the Ministry of Land, Infrastructure and Transport.
(4) A register of overseas construction businesses referred to in paragraph (2) shall be prepared and kept in the way that makes it possible to handle it electronically, except in extenuating circumstances.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 7 (Declarations of Modification of Declared Matters)
(1) Matters subject to declaration of modification under the latter part of Article 6 (1) of the Act, shall be those prescribed in Article 6 (1) 2 through 4.
(2) A person who intends to modify any declared matter under paragraph (1) shall submit a written declaration of modification of overseas construction business to the Minister of Land, Infrastructure and Transport, within 30 days from the date the relevant cause occurs.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 8 (Persons Eligible to Make Declarations of Overseas Construction Business)
"Person prescribed by Presidential Decree" in Article 6 (2) 9 of the Act means any of the following: <Amended by Presidential Decree No. 15296, Feb. 28, 1997; Presidential Decree No. 17186, Mar. 31, 2001; Presidential Decree No. 20257, Sep. 10, 2007; Presidential Decree No. 21563, Jun. 25, 2009; Presidential Decree No. 22615, Jan. 4, 2011; Presidential Decree No. 25168, Feb. 11, 2014; Presidential Decree No. 25292, Apr. 1, 2014; Presidential Decree No. 26302, Jun. 1, 2015; Presidential Decree No. 27444, Aug. 11, 2016>
1. A person to whom a trader's identification number has been allocated under Article 21 (1) of the Enforcement Decree of the Foreign Trade Act;
2. A corporation incorporated by joint contribution of overseas construction business entities, for developing (excluding performing construction works) overseas works;
3. A construction technology service business entity registered under Article 26 of the Construction Technology Promotion Act;
4. A survey business person registered under Article 44 of the Act on the Establishment, Management, etc. of Spatial Data or a waterway business person registered under Article 54 of the same Act;
5. A housing builder or a housing site developer registered under Article 4 of the Housing Act.
 Article 9 Deleted. <by Presidential Decree No. 16188, Mar. 17, 1999>
 Article 10 (Public Institutions and Local Public Enterprises Exempted from Declaration of Overseas Construction Business)
(1) "Public institutions prescribed by Presidential Decree" in the former part of Article 6 (6) of the Act, means public institutions specified in attached Table 3.
(2) "Local public enterprises prescribed by Presidential Decree" in the former part of Article 6 (6) of the Act, means local public enterprises determined and publicly notified by the Minister of Land, Infrastructure and Transport among local public enterprises established under the Local Public Enterprises Act, which intend to engage in overseas construction business. <Amended by Presidential Decree No. 24443, Mar. 23, 2013; Presidential Decree No. 28828, Apr. 24, 2018>
[This Article Wholly Amended by Presidential Decree No. 22615, Jan. 4, 2011]
 Articles 11 and 12 Deleted. <by Presidential Decree No. 16188, Mar. 17, 1999>
CHAPTER III DECLARATIONS AND REPORTING OF ESTABLISHMENT, ETC. OF LOCAL SUBSIDIARIES
 Article 13 (Declarations of Current Status of Local Subsidiaries)
Where an overseas construction business entity intends to make a declaration of establishment or acquisition of a local subsidiary pursuant to Article 10 of the Act, he/she shall submit a written declaration of establishment (acquisition) of a local subsidiary to the Minister of Land, Infrastructure and Transport or the head of the relevant diplomatic mission abroad, within 60 days from the date of such establishment or acquisition.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Articles 14 through 16 Deleted. <by Presidential Decree No. 16188, Mar. 17, 1999>
 Article 17 (Reporting on Status of Overseas Works)
(1) Each overseas construction business entity shall report the following matters concerning his/her marketing activities and status of performance of overseas works to the Minister of Land, Infrastructure and Transport in accordance with Article 13 of the Act: Provided, That in cases of exportation on a turn-key basis with consent from the Minister of Land, Infrastructure and Transport under Article 32 (2) of the Foreign Trade Act, he/she shall report matters specified in subparagraph 2 (a):
1. Reporting on marketing activities:
(a) Status of marketing activities;
(b) Results of contracts concluded;
(c) Performance record of overseas works;
2. Reporting on the status of performance of works:
(a) Status of performance of works;
(b) Completion of works;
(c) Modification of details of works;
(d) Accidents related to overseas works.
(2) Reporting referred to in paragraph (1) shall conform to the following distinctions: Provided, That if necessary to promptly grasp the status of any overseas works, the Minister of Land, Infrastructure and Transport may order to report it at anytime:
1. Reports referred to in paragraph (1) 1 (a): In cases of contracted construction, by not later than ten days before the scheduled date of bidding; and in cases of non-contracted construction works, by not later than 20 days before the commencement date of the relevant construction works;
2. Reporting referred to in paragraph (1) 1 (b) and 2 (b), (c), and (d): Within 25 days from the date the cause for reporting occurs;
3. Reporting referred to in paragraph (1) 1 (c): To be prepared as at December 31 each year and submitted, by not later than February 15 of the following year;
4. Reporting referred to in paragraph (1) 2 (a): Within 30 days after each six-monthly period.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
CHAPTER IV ASSISTANCE, ETC. FOR OVERSEAS WORKS
 Article 18 Deleted. <by Presidential Decree No. 16188, Mar. 17, 1999>
 Article 19 (Establishment and Operation of Small and Medium Contractors Business Center)
(1) "Matters prescribed by Presidential Decree" in Article 15-2 (1) 4 of the Act means any of the following:
1. Assistance for securing, etc. funds, human resources, and machinery and materials for entering into overseas construction markets;
2. Assistance for financial activities required for overseas works, such as export guarantee, trade insurance, export financing, and countermeasures for fluctuations in exchange rates;
3. Providing opportunities to share information and to cooperate with enterprises which have entered into overseas construction markets;
4. Other matters the Minister of Land, Infrastructure and Transport deems necessary to assist small and medium construction business entities to enter into overseas construction markets.
(2) "Institution or entity prescribed by Presidential Decree" in the former part of Article 15-2 (4) of the Act means the following:
1. The International Contractors Association of Korea incorporated under Article 23 of the Act;
2. A constructors' association incorporated under Article 50 of the Framework Act on the Construction Industry;
3. A mutual-aid association incorporated under Article 54 of the Framework Act on the Construction Industry.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 19-2 Deleted. <by Presidential Decree No. 28828, Apr. 24, 2018>
 Article 19-3 (Assistance in Overseas Construction Policies and Research and Development, etc.)
(1) "Matters prescribed by Presidential Decree" in Article 15-4 (1) 7 of the Act means the following:
1. Development of strategies for diversification of overseas construction markets to enter into and types of works;
2. Research on measures to increase investment in and development of overseas construction and entry of overseas construction engineering;
3. Research on measures and techniques for financial support for overseas construction;
4. Research on measures to strengthen the promotion system among institutions related to overseas construction;
5. Research on measures to link, integrate, and utilize information systems related to overseas construction;
6. Other matters the Minister of Land, Infrastructure and Transport deems necessary for the promotion of overseas construction.
(2) "Institution or organization prescribed by Presidential Decree" in the former part of Article 15-4 (4) of the Act means any of the following: <Amended by Presidential Decree No. 29137, Sep. 4, 2018>
1. The International Contractors Association of Korea incorporated under Article 23 of the Act;
1-2. The Korea Overseas Infrastructure and Urban Development Support Corporation established under Article 28-2 of the Act;
2. A constructors' association incorporated under Article 50 of the Framework Act on the Construction Industry;
[This Article Newly Inserted by Presidential Decree No. 25168, Feb. 11, 2014]
 Article 19-4 (Assistance, etc. in International Cooperation Related to Overseas Works)
(1) “Expenses prescribed by Presidential Decree" in subparagraph 3 of Article 15-5 of the Act means expenses incurred in conducting the following affairs:
1. Gathering and examination of information on overseas works, and publication of data thereon;
2. Development, establishment, maintenance, and management of an information system related to overseas works;
3. Provision of information on overseas works through an information and communications network.
(2) The Minister of Land, Infrastructure and Transport shall publicly pre-announce the following matters to grant a subsidy under Article 15-5 of the Act:
1. An implementation plan including the following matters:
(a) Types of business eligible for assistance;
(b) Amount of the subsidy;
(c) Period and schedule for inviting business eligible for assistance;
(d) Methods of filing an application;
2. Standards for payment, including conditions for the payment of expenses;
3. Other matters necessary for subsidizing expenses, such as assessment criteria for the selection of business eligible for assistance.
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
 Article 20 (Designation, etc. of Exemplary Overseas Construction Business Entities)
(1) In designating an exemplary overseas construction business entity under Article 16 (1) of the Act, the Minister of Land, Infrastructure and Transport shall take the following matters into consideration: Provided, That subparagraphs 1, 3, 4, and 7 shall not apply where an overseas construction business entity falling under Article 16 (1) 2 of the Act, is designated as an exemplary overseas construction business entity:
1. Record of the overseas construction business entity on performance of overseas construction contracts during the recent three years;
2. Financial soundness of the overseas construction business entity;
3. Record of the overseas construction business entity on developing new markets;
4. Foreign-exchange earnings ratio of overseas works performed by the overseas construction business entity;
5. Results of the use of technology development expenses by the overseas construction business entity under Article 21;
6. Results of the use of domestic machinery and materials and domestic human resources by the overseas construction business entity;
7. Superiority of the performance of works performed by the overseas construction business entity, such as shortening of construction period of overseas works.
(2) Each person who intends to be designated as an exemplary overseas construction business entity, shall prepare data on the matters applicable to him/her among matters specified under paragraph (1) and file an application with the Minister of Land, Infrastructure and Transport.
(3) The term of validity of the designation of an exemplary overseas construction business entity shall be three years.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 20-2 (Upper Limits of Investment by Public Institutions)
The upper limits of financing or investment grantable by public institutions under Article 17-2 (1) of the Act shall be 30/100 of the total assets of the relevant collective investment scheme.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 20-3 (Organization, Operation, etc. of Overseas Construction Promotion Committee)
(1) "Matters prescribed by Presidential Decree" in Article 17-3 (1) 4 of the Act means the following: <Amended by Presidential Decree No. 28828, Apr. 24, 2018>
1. Matters concerning support for overseas infrastructure and urban development projects;
2. Other matters concerning overseas construction policies referred for deliberation by the chairperson of the Overseas Construction Promotion Committee established under Article 17-3 (1) of the Act (hereinafter referred to as the "Committee").
(2) The Committee shall be comprised of not exceeding 30 members, including one chairperson.
(3) The Vice Minister for Land and Infrastructure shall be the chairperson and the following persons shall be the members:
1. One person appointed by each of the heads of the relevant agencies, from among public officials in general service who belong to the Senior Civil Service Corps of the Ministry of Strategy and Finance, the Ministry of Education, the Ministry of Foreign Affairs, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Trade, Industry and Energy, the Ministry of Environment, the Ministry of Employment and Labor, the Ministry of Land, Infrastructure and Transport, the Ministry of Oceans and Fisheries, the Financial Services Commission, and the Ministry of Legislation;
2. Persons commissioned by the chairperson, from among those with extensive expertise and experience in overseas construction.
(4) The Minister of Land, Infrastructure and Transport shall disclose the list of the Committee members (hereinafter referred to as "members") through its website, etc.
(5) The term of office of members in paragraph (3) 2 shall be two years.
(6) The chairperson shall convoke and preside over Committee meetings.
(7) Resolutions by a Committee meeting shall require the attendance of a majority of all incumbent members and the consent of a majority of those present.
(8) The Committee shall have one executive secretary appointed by the Minister of Land, Infrastructure and Transport, from among public officials belonging to the Ministry of Land, Infrastructure and Transport.
(9) A public institution that provides finance or makes investment under Article 17-2 of the Act may attend and speak at a Committee meeting.
(10) Matters necessary for the organization and operation of the Committee, other than those prescribed in paragraphs (1) through (9), shall be determined by the chairperson following a resolution by the Committee.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 20-4 (Exclusion, Challenge, and Abstention of Members)
(1) If any member falls under any of the following cases, he/she shall be excluded from involvement in deliberation and resolution on the relevant agenda item:
1. Where a member or his/her current or former spouse becomes a party to the relevant agenda item or holds any right or duty jointly with the party to such agenda item;
2. Where a member is or was a relative of a party to the relevant agenda item;
3. Where a member has given any advice, or conducted any research, service (including any subcontract), appraisal, or examination with respect to the relevant agenda item;
4. Where a member or a corporation or organization where he/she belongs is or was an agent of a party to the relevant agenda item;
5. Where any corporation, etc. where a member holds or held a post as an executive or employee within recent three years has given any advice, or conducted any research, service (including any subcontract), appraisal, or examination with respect to the relevant agenda item.
(2) If any ground exists for which it would be difficult to expect the impartial deliberation and resolution of any member, a party to the relevant agenda item may file a request for challenge to him/her with the Committee, and the Committee shall make a determination on such request by resolution. In such cases, no member subject to such request for challenge shall participate in the resolution.
(3) If a member finds that any of the grounds for exclusion specified under paragraph (1) applies to him/her, he/she shall voluntarily abstain from involvement in deliberation and resolution on the relevant agenda item.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 20-5 (Dismissal, etc. of Members)
(1) The Minister of Land, Infrastructure and Transport may dismiss a Committee member commissioned under Article 20-3 (3) 2 from office, where:
1. He/she becomes incapable of performing his/her duties due to a mental disorder;
2. He/she engages in misconduct in connection with his/her duties;
3. He/she is deemed unfit for a member due to neglect of a duty, loss of dignity, or any other reason;
4. He/she fails to abstain voluntarily from involvement, despite falling under a case set forth in Article 20-4 (1);
5. He/she voluntarily admits that it is impracticable for him/her to perform his/her duties.
(2) A person who has appointed a member under Article 20-3 (3) 1, may withdraw the appointment, if the member falls under any subparagraph of paragraph (1).
[This Article Newly Inserted by Presidential Decree No. 26844, Dec. 31, 2015]
 Article 21 (Recommendation to Use Technology Development Expenses)
(1) The standard amount for recommendation for investment in technology development under Article 18 (1) of the Act shall be determined by the Minister of Land, Infrastructure and Transport, taking into consideration the results of contracts concluded in the previous year.
(2) When the Minister of Land, Infrastructure and Transport recommends an overseas construction business entity to invest some of the contract proceeds obtained under Article 18 (1) of the Act in technological development, no amount to be recommended shall exceed 2/1,000 of the annual amount of his/her overseas construction contracts.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 21-2 (Installation, etc. of Emergency Medical Facilities)
(1) "Scale of which is at least that prescribed by Presidential Decree" in the main sentence of Article 18-3 (1) of the Act means 500 million U.S. dollars.
(2) "Distance prescribed by Presidential Decree" in the proviso to Article 18-3 (1) of the Act means 50 kilometers.
(3) Standards for installation of emergency medical facilities and a medical team to be equipped with in accordance with the main sentence of Article 18-3 (1) of the Act shall be as follows:
1. Emergency medical facilities: They shall secure a separate space of at least 20 square meters for the medical treatment of emergency patients and be equipped with sick beds for simple treatment and surgical procedures;
2. Medical team: A medical doctor, nurse, or emergency medical person who holds a license or qualification under the Medical Service Act or the Emergency Medical Service Act, or at least one person who holds an equivalent license or qualification under the statutes of the country where the relevant site is located, shall be stationed at all times.
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
CHAPTER V COLLECTIVE INVESTMENT SCHEMES FOR OVERSEAS CONSTRUCTION
 Article 22 (Preparation and Submission of Business Reports)
A collective investment scheme for overseas construction referred to in Article 19 (3) of the Act shall prepare a quarterly business report in the manner prescribed in Article 94 (1) of the Enforcement Decree of the Financial Investment Services and Capital Markets Act and submit it to the Minister of Land, Infrastructure and Transport and the Financial Services Commission within two months after the end of each quarter, pursuant to Article 19-2 (2) of the Act.
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
 Article 23 (Human Resources for Management of Investment of Collective Investment Business Entities)
(1) "Human resources for management of investment in overseas construction business prescribed by Presidential Decree, such as those who meet the qualification requirements" in Article 19-5 (1) of the Act, means the following human resources for management of investment who work full time: <Amended by Presidential Decree No. 28828, Apr. 24, 2018>
1. At least two of the following persons (hereafter in paragraph (2), referred to as "human resources for management of investment specializing in overseas construction"):
(a) A person experienced in management of investment in the field of construction works or engineering activities for at least three years after obtaining qualifications for a fund manager in Article 286 (1) 3 (c) of the Financial Investment Services and Capital Markets Act;
(b) A person experienced in the management of investment in the field of construction works or engineering activities for at least three years at any of the following institutions:
(i) A financial institution defined in subparagraph 1 of Article 2 of the Act on the Structural Improvement of the Financial Industry (hereinafter referred to as "financial institution");
(ii) The Korea Development Bank established under the Korea Development Bank Act (hereinafter referred to as the "Korea Development Bank");
(iii) The Export-Import Bank of Korea established under the Export-Import Bank of Korea Act (hereinafter referred to as the "Export-Import Bank of Korea");
(c) A person who has completed prior education on asset management conducted by the Minister of Land, Infrastructure and Transport after obtaining any of the following qualifications:
(i) A person experienced in the affairs related to construction works or engineering activities for at least three years;
(ii) A person who holds qualifications for at least an industrial engineer in an occupational field related to construction or engineering under the National Technical Qualifications Act;
(iii) A person who has completed an education course beforehand under Article 22 (2) of the Real Estate Investment Company Act after obtaining the qualifications in any subparagraph of Article 22 (1) of the same Act;
(iv) A person qualified as an attorney-at-law;
(v) A person qualified as a certified public accountant;
(vi) A person experienced in the management of investment in a field related to construction works or engineering activities for at least one year at a financial institution, the Korea Development Bank or the Export-Import Bank of Korea;
(vii) Other persons experienced in business affairs related to construction works or engineering activities, who are prescribed by the Minister of Land, Infrastructure and Transport.
(2) "Human resources for management of investment in overseas construction business prescribed by Presidential Decree" in Article 19-5 (2) of the Act means at least two persons working full time as human resources for management of investment specializing in overseas construction.
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
 Article 24 (Entrustment, etc. of Affairs by General Collective Investment Business Entities)
Affairs that a general collective investment business entity may entrust under Article 19-5 (3) of the Act, shall be as follows:
1. Affairs related to feasibility studies for overseas construction works, including technologies, legal system, and economic analysis;
2. Affairs related to the purchase and sale, and the operation and management, of corporations incorporated for performing overseas construction business or making investment related to overseas construction business, and their related corporations (referring to corporations that manage and operate investment facilities, corporations that sell goods and services produced through investment facilities, and corporations incorporated to attain the purposes of corporations incorporated to perform overseas construction business or to make investment related to overseas construction business).
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
 Article 25 (Remuneration Contingent upon Performance)
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
 Article 26 (Scope of Asset Management)
(1) "Period prescribed by Presidential Decree" in Article 19-6 (2) of the Act means two years.
(2) "Ratio prescribed by Presidential Decree" in Article 19-6 (2) of the Act means 50/100.
(3) "Limit prescribed by Presidential Decree" in Article 19-6 (4) 3 of the Act means 30/100.
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
 Article 26-2 (Limit on Borrowing of Funds)
(1) "Ratio prescribed by Presidential Decree" in the main sentence of Article 19-7 (1) of the Act means 30/100.
(2) "Ratio prescribed by Presidential Decree" in Article 19-7 (2) of the Act means 30/100.
[This Article Newly Inserted by Presidential Decree No. 26976, Feb. 11, 2016]
CHAPTER VI THE INTERNATIONAL CONTRACTORS ASSOCIATION OF KOREA
 Article 27 (Operation of Consultative Council on Marketing Activities for Overseas Works)
(1) Where necessary to perform duties prescribed in subparagraph 8 of Article 24 of the Act, the International Contractors Association of Korea established under Article 23 (1) of the Act (hereinafter referred to as the "Association") may operate a consultative council on marketing activities for overseas works in which overseas construction business entities performing marketing activities for the relevant works participate (hereinafter referred to as "consultative council on marketing activities").
(2) Matters concerning the organization and operation of a consultative council on marketing activities shall be determined by the chairperson of the Association following a resolution by the board of directors of the Association.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 28 (Supervision)
(1) The Minister of Land, Infrastructure and Transport shall guide and supervise the operation of the Association.
(2) Where deemed necessary, the Minister of Land, Infrastructure and Transport may request the Association to submit the outcomes of meetings of the general assembly and the board of directors, within five days from the respective dates they are closed.
(3) Where the outcomes of a meeting of the general assembly and of the board of directors reported under paragraph (2) fall under any of the following cases, the Minister of Land, Infrastructure and Transport may order the Association to correct or modify such outcomes:
1. Where any Act or subordinate statute is violated;
2. Where orderly marketing activities for overseas works are disturbed;
3. Where they are unfit for the objectives of establishment of the Association, such as laying excessive burdens to its members.
(4) When the Association finds any person who performs overseas works in violation of the Act or this Decree or by wrongful means, it shall report such fact to the Minister of Land, Infrastructure and Transport.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
CHAPTER VII KOREA OVERSEAS INFRASTRUCTURE AND URBAN DEVELOPMENT SUPPORT CORPORATION
 Article 29 (Capital Investment)
(1) "Persons prescribed by Presidential Decree" in Article 28-4 (2) 4 of the Act means any of the following persons:
2. The Military Mutual Aid Association under the Military Personnel Mutual Aid Association Act;
3. The Korea Trade Insurance Corporation under Article 37 of the Trade Insurance Act;
4. The Export-Import Bank of Korea;
5. Other persons determined and publicly notified by the Minister of Land, Infrastructure and Transport, taking into account the characteristics of the business run, investment capability, etc.
(2) The capital of the Korea Overseas Infrastructure and Urban Development Support Corporation (hereinafter referred to as "KIND") may be invested in kind in accordance with the articles of incorporation.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-2 (Registration of Incorporation)
Matters requiring the registration of incorporation of KIND under Article 28-5 (1) shall be as follows:
1. Purpose;
2. Name;
3. Total number of stocks to be issued by KIND;
4. Value per share in the case of issuance of par value stock;
5. Location of its main office, branch offices, and local offices;
6. Method of public announcement;
7. Amount of capital;
8. Total number and types of issued stocks, and the number and content of various stocks;
9. Names and resident registration numbers of the directors and the auditor;
10. Name, resident registration number, and address of the president;
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-3 (Incorporation of Establishment of Branch Offices, etc.)
Where KIND has established its main office, branch offices, and local offices (hereinafter referred to as "branch offices, etc."), it shall register the following during the relevant periods prescribed as follows.
1. Location of its main office: The following matters within two weeks after the date of establishment of branch offices, etc.:
(i) Names of branch offices, etc.;
(ii) Locations and the dates of establishment of branch offices, etc.;
2. Locations of branch offices, etc. established: The following matters within three weeks after the date of establishment of branch offices, etc.:
(i) Matters prescribed in subparagraph 1, 2, 5 (excluding matters concerning locations of other branch offices. etc.), and 6 of Article 29-2;
(ii) Name, resident registration number, and address of the president of KIND.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-4 (Transfer Registration)
(1) Where KIND has transferred its main office, it shall register the following matters within two weeks in accordance with the following classifications:
1. Previous location: New location and the date of transfer;
2. New location: Matters prescribed in subpagaraphs of Article 29-2.
(2) Where KIND has transferred its branch offices, etc., it shall register the following matters within three weeks (at the location of its main office, two weeks) in accordance with the following classifications:
1. Locations of its main office and previous branch offices, etc.: Locations of new branch offices, etc. and the dates of transfer;
2. Locations of new branch offices, etc.: Matters prescribed in items of subparagraph 2 of Article 29-3.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-5 (Registration of Change)
(1) Where KIND has changed any matter in subparagraphs of Article 29-2, it shall register the changed matter within two weeks at the location of its main office.
(2) Where KIND has changed any matter in subparagraph 2 of Article 29-3, it shall register the changed matters within three weeks at the locations of its branch offices, etc.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-6 (Counting of Registration Period)
Where there is any matter requiring authorization or approval of the Minister of Land, Infrastructure and Transport among matters to be registered under Articles 29-2 through Article 29-5, and Article 29-10, a registration period shall be counted from the date on which a document regarding the said authorization or approval has arrived.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-7 (Applicant, etc. for Registration)
(1) Application for registrations under Articles 29-2 through Article 29-5, and Article 29-10 shall be made by the president of KIND.
(2) Each application for registration under Articles 29-2 through Article 29-5, and Article 29-10 shall include documents stating reasons for such application attached thereto.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-8 (Composition of Steering Committee)
"Head of related Ministry prescribed by Presidential Decree" in Article 28-8 (1) 4 of the Act means the Minister of Trade, Industry and Energy.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-9 (Operation of Steering Committee)
(1) The directors and the auditor of KIND may attend meetings of the Steering Committee under Article 28-7 of the Act (hereinafter referred to as the "Steering Committee"); and may state their opinions.
(2) Members who attend meetings of the Steering Committee may be paid allowances within budgetary limits of KIND.
(3) Where a member of the Steering Committee falls under any of the following, he/she may be excluded from the deliberation or resolution by the Steering Committee.
1. Where a member of the Steering Committee or his/her current or former spouse is a party to a relevant agenda item (in cases of a corporation or an organization, an executive officer thereof; hereafter the same applies in this paragraph) or a joint holder of rights or obligations with the party;
2. Where a member of the Steering Committee was or is a relative of a party to a relevant agenda item;
3. Where a member of the Steering Committee has offered advice, conducted research or provided services regarding a relevant agenda item;
4. Where a member of the Steering Committee or a corporation or an organization to which a member of the Steering Committee belongs was or is an agent of a relevant agenda item.
(4) Where there is any reason for excluding members of the Steering Committee under paragraph (3) or where the circumstances indicate that it would be difficult to expect a fair deliberation and resolution by members, a party to an agenda item subject to deliberation or resolution may file a request for a challenge with the Steering Committee; and the Steering Committee shall determine whether or not to accept the request. In such case, the member of the Steering Committee in question shall not participate in the decision-making process.
(5) Where a member of the Steering Committee falls under any of the following reasons for exclusion prescribed in paragraph (3), he/she shall refrain him/herself from deliberations and resolutions of a relevant agenda item.
(6) Article 20-5 (1) shall apply mutatis mutandis to dismissal of members of the Steering Committee. In such case, "Committee members commissioned under Article 20-3 (3) 2" shall be construed as "members in Article 28-8 (1) 5 and 6 of the Act"; and "any of the following cases in Article 20-4 (1)" as "any subparagraph of paragraph (3)."
(7) Except matters prescribed in paragraphs (1) through (6), detailed matters necessary for operating the Steering Committee shall be determined by the chairperson of the Steering Committee following resolutions thereby.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-10 (Appointment of Agent)
(1) Where the president of KIND has appointed an agent under Article 28-14 (1) of the Act, he/she shall register the following at the location of the main office or branch offices, etc. of the agent within two weeks. The same applies to modification of any registered matters:
1. Name, resident registration number, and address of an agent;
2. In cases of restrictions on the authority of an agent, details of such restrictions.
(2) The executive officers or employees who may be appointed by the president of KIND as an agent to perform all judicial acts in relation to the duties of KIND pursuant to Article 28-14 (1) of the Act shall have at least two years’ experience in trial-related duties.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-11 (Duties of KIND)
"Duties prescribed by Presidential Decree" in Article 28-16 (1) 7 of the Act means the following duties:
1. Duties incidental to those prescribed in Article 28-16 (1) 1 through 6 of the Act, which are approved by the Minister Land, Infrastructure and Transport;
2. Duties entrusted by local governments and public institutions under the Act on the Management of Public Institutions, which are approved by the Minister Land, Infrastructure and Transport;
3. Other duties deemed necessary by the Minister Land, Infrastructure and Transport.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
 Article 29-12 (Borrowings)
"Persons prescribed by Presidential Decree" in Article 28-18 (1) of the Act means any of the following persons:
2. Other persons determined and publicly notified by the Minister Land, Infrastructure and Transport.
[This Article Newly Inserted by Presidential Decree No. 28828, Apr. 24, 2018]
CHAPTER VIII SUPERVISION
 Articles 30 through 32 Deleted. <by Presidential Decree No. 16188, Mar. 17, 1999>
 Article 33 (Substitute Performance of Works)
Where the Minister of Land, Infrastructure and Transport intends to have another overseas construction business entity substitute and perform works under Article 33 (1) of the Act, he/she shall gather consensus from the following persons:
1. An overseas construction business entity to substitute and perform the works;
2. The head of the diplomatic mission abroad having jurisdiction over the relevant area;
3. The head of the designated bank with which the current constructor has an account;
4. The chairperson of the Association.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 34 Deleted. <by Presidential Decree No. 16188, Mar. 17, 1999>
 Article 35 (Delegation of Authority)
(1) The Minister of Land, Infrastructure and Transport may delegate the following authority to the Association under Article 34 of the Act:
1. Acceptance of declarations of overseas construction business under Article 6 of the Act;
2. Acceptance of declarations of establishment, etc. of local subsidiaries under Article 10 of the Act;
3. Receipt of reports on the status of overseas works under Article 13 of the Act.
(2) Upon conducting duties specified under paragraph (1), the Association shall report the results thereof to the Minister of Land, Infrastructure and Transport within seven days.
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
 Article 35-2 (Reexamination of Regulation)
The Minister of Land, Infrastructure and Transport shall examine the appropriateness of the following matters every three years from the following base dates (referring to the period that ends on the third anniversary before the base date) and shall take measures for modification, etc.:
1. Declaration, etc. of overseas construction business referred to in Article 6: January 1, 2014;
2. Declaration of the current status of local subsidiaries referred to in Article 13: January 1, 2014;
3. Reporting on the status of overseas works referred to in Article 17: January 1, 2014.
[This Article Newly Inserted by Presidential Decree No. 25050, Dec. 30, 2013]
 Article 36 (Criteria for Imposing Administrative Fines)
The criteria for imposing administrative fines in Article 41 (1) and (2) of the Act shall be as shown in attached Table 4. <Amended by Presidential Decree No. 29137, Sep. 4, 2018>
[This Article Wholly Amended by Presidential Decree No. 25292, Apr. 1, 2014]
ADDENDA
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 1994.
Article 2 (Transitional Measures concerning Overseas Construction Business Entities)
Each person who has obtained a license of overseas construction business under the previous provisions as at the time this Decree enters into force, but fails to meet the qualifications for application for registration or the criteria for registration specified in attached Tables 2 and 3, shall satisfy the qualifications for application for registration specified in attached Tables 2 and 3, by not later than June 30, 1994.
Article 3 (Transitional Measures concerning Funds)
(1) The fund management plan for the year 1994 formulated by the Association under the previous provisions as at the time this Decree enters into force shall be deemed a fund management plan formulated and confirmed by the Minister of Construction.
(2) The Association shall prepare a report on the settlement of funds for the fiscal year 1993 as at February 28, 1994 in accordance with the previous provisions and report it to the Minister of Construction within one month, and the accounting period of funds for the year 1994 shall be from March 1, 1994 to December 31, 1994.
Article 4 (Transitional Measures concerning Categories of Overseas Construction Business)
Each person who has obtained a license for construction service business and each person who has obtained a license for business of marketing for overseas works under the previous provisions as at the time this Decree enters into force, shall be deemed a person registered for a construction engineering business and a person registered for a business of marketing for and developing overseas works, respectively.
ADDENDA <Presidential Decree No. 14438, Dec. 23, 1994>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 14447, Dec. 23, 1994>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 15296, Feb. 28, 1997>
Article 1 (Enforcement Date)
This Decree shall enter into force on March 1, 1997.
Articles 2 through 7 Omitted.
ADDENDA <Presidential Decree No. 15581, Dec. 31, 1997>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 1998. (Proviso Omitted.)
Articles 2 through 7 Omitted.
ADDENDA <Presidential Decree No. 15844, Jul. 25, 1998>
(1) (Enforcement Date) This Decree shall enter into force on the date of its promulgation.
(2) (Transitional Measures concerning Change of Category of Overseas Construction Business) Overseas construction business listed in the left columns of the following table registered under the previous provisions as at the time this Decree enters into force, shall be deemed registered as the overseas construction business listed in the right columns of the following table, and a registration certificate of overseas construction business issued under the previous provisions shall be deemed issued under this Decree until newly issued. In such cases, a person registered for special works business under the previous provisions shall meet the qualifications for application for registration under attached Table 2 and the criteria for registration under attached Table 3, before application is made for the first registration of modified matters after this Decree enters into force:
Overseas Construction Business under the Previous ProvisionsOverseas Construction Business under this Decree
Special works businessGeneral construction business (industrial facility works business): Provided, That business related to environmental pollution prevention facility works shall be excluded from the content of the business until the qualifications for application for registration and the registration criteria for industrial facility works business are fulfilled.
Landscaping works businessGeneral construction business (landscaping works business)
(3) (Transitional Measures concerning Amendment to Term of Office of Auditor) Notwithstanding the amended provisions of Article 27 (3), the term of office of an auditor holding office as at the time this Decree enters into force shall be governed by the previous provisions.
ADDENDA <Presidential Decree No. 16081, Dec. 31, 1998>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 1999.
Article 2 Omitted.
ADDENDA <Presidential Decree No. 16188, Mar. 17, 1999>
(1) (Enforcement Date) This Decree shall enter into force on the date of its promulgation.
(2) (Transitional Measures concerning Administrative Fines) The imposition of an administrative fine for any offence committed before this Decree enters into force, shall be governed by the previous provisions.
ADDENDA <Presidential Decree No. 16953, Aug. 17, 2000>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 17186, Mar. 31, 2001>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Presidential Decree No. 18312, Mar. 17, 2004>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 19463, Apr. 28, 2006>
Article 1 (Enforcement Date)
This Decree shall enter into force on April 30, 2006.
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 20257, Sep. 10, 2007>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 4 Omitted.
ADDENDUM <Presidential Decree No. 20506, Dec. 31, 2007>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 20722, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 6 Omitted.
ADDENDA <Presidential Decree No. 21563, Jun. 25, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on June 26, 2009.
Article 2 (Transitional Measures)
The imposition of an administrative fine for any offence committed before this Decree enters into force, shall be governed by the amended provisions.
ADDENDA <Presidential Decree No. 21565, Jun. 26, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 21744, Sep. 21, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on October 1, 2009.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 22220, Jun. 28, 2010>
Article 1 (Enforcement Date)
This Decree shall enter into force on July 6, 2010.
Articles 2 and 3 Omitted.
ADDENDUM <Presidential Decree No. 22615, Jan. 4, 2011>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 22626, Jan. 17, 2011>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 6 Omitted.
ADDENDA <Presidential Decree No. 22897, Apr. 6, 2011>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 (Transitional Measures concerning Administrative Fines)
(1) Notwithstanding the amended provisions of Article 36 and attached Table 5, the imposition of an administrative fine for any offence committed before this Decree enters into force, shall be governed by the previous provisions.
(2) No disposition for imposition of an administrative fine received due to any offence committed before this Decree enters into force, shall be included in the calculation of the frequency of offences under the amended provisions of attached Table 5.
ADDENDA <Presidential Decree No. 23956, Jul. 17, 2012>
Article 1 (Enforcement Date)
This Decree shall enter into force on July 18, 2012.
Article 2 (Transitional Measures concerning Long-Term Plans to Promote Overseas Construction)
Long-term plans to promote overseas construction formulated before this Decree enters into force shall be deemed long-term master plans to promote overseas construction, formulated under Article 4 (1) and (5) until December 31, 2014.
Article 3 (Transitional Measures concerning Overseas Construction Deliberative Committee)
The Overseas Construction Deliberative Committee established under the previous provisions, as at the time this Decree enters into force, shall be deemed the Overseas Construction Promotion Committee established under the amended provisions of Article 20-3 (1).
Article 4 (Transitional Measures concerning Members of Overseas Construction Deliberative Committee)
Members of the Overseas Construction Deliberative Committee appointed or commissioned under the previous provisions, as at the time this Decree enters into force, shall be deemed appointed or commissioned as members of the Overseas Construction Promotion Committee under the amended provisions of Article 20-3 (3), and the terms of office of commissioned members shall continue until the expiration date of their terms of office determined upon their appointment.
ADDENDA <Presidential Decree No. 24443, Mar. 23, 2013>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 6 Omitted.
ADDENDUM <Presidential Decree No. 25050, Dec. 30, 2013>
This Decree shall enter into force on February 14, 2014. (Proviso Omitted.)
ADDENDUM <Presidential Decree No. 25168, Feb. 11, 2014>
This Decree shall enter into force on February 14, 2014: Provided, That the amended provisions of subparagraph 3 of Article 8, subparagraph 6 (b) of attached Table 1, and subparagraph 6 (d) of attached Table 2 shall enter into force on May 23, 2014.
ADDENDUM <Presidential Decree No. 25292, Apr. 1, 2014>
This Decree shall enter into force on the date of its promulgation: Provided, That the amended provisions of subparagraph 3 of Article 8 of the partially amended Enforcement Decree of the Overseas Construction Promotion Act (Presidential Decree No. 25168), shall enter into force on May 23, 2014.
ADDENDA <Presidential Decree No. 26302, Jun. 1, 2015>
Article 1 (Enforcement Date)
This Decree shall enter into force on June 4, 2015.
Articles 2 and 3 Omitted.
ADDENDUM <Presidential Decree No. 26844, Dec. 31, 2015>
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 26976, Feb. 11, 2016>
This Decree shall enter into force on February 12, 2016: Provided, That the amended provisions of Article 21-2 and subparagraph 2 of attached Table 4 shall enter into force on August 12, 2016.
ADDENDA <Presidential Decree No. 27444, Aug. 11, 2016>
Article 1 (Enforcement Date)
This Decree shall enter into force on August 12, 2016.
Articles 2 through 8 Omitted.
ADDENDA <Presidential Decree No. 28828, Apr. 24, 2018>
Article 1 (Enforcement Date)
This Decree shall enter into force on April 25, 2018.
Article 2 (Applicability to Annual Implementation Plans for Overseas Construction)
The amended provision of Article 4 (2) 4 shall begin to apply from an annual implementation plan for overseas construction formulated after this Decree enters into force.
ADDENDUM <Presidential Decree No. 29137, Sep. 4, 2018>
This Decree shall enter into force on the date of its promulgation.