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ENFORCEMENT DECREE OF THE ACT ON REAL NAME FINANCIAL TRANSACTIONS AND CONFIDENTIALITY

Presidential Decree No. 15604, Dec. 31, 1997

Amended by Presidential Decree No. 15744, Mar. 25, 1998

Presidential Decree No. 15788, May 6, 1998

Presidential Decree No. 15821, Jul. 1, 1998

Presidential Decree No. 16234, Apr. 9, 1999

Presidential Decree No. 16664, Dec. 31, 1999

Presidential Decree No. 16709, Feb. 14, 2000

Presidential Decree No. 17646, jun. 29, 2002

Presidential Decree No. 17791, Dec. 5, 2002

Presidential Decree No. 18312, Mar. 17, 2004

Presidential Decree No. 18491, Jul. 29, 2004

Presidential Decree No. 19002, Aug. 17, 2005

Presidential Decree No. 20261, Sep. 10, 2007

Presidential Decree No. 20653, Feb. 29, 2008

Presidential Decree No. 20947, Jul. 29, 2008

Presidential Decree No. 21518, May 29, 2009

Presidential Decree No. 21835, Nov. 20, 2009

Presidential Decree No. 21928, Dec. 30, 2009

Presidential Decree No. 24435, Mar. 23, 2013

Presidential Decree No. 25279, Mar. 24, 2014

Presidential Decree No. 25790, Nov. 28, 2014

Presidential Decree No. 25945, Dec. 30, 2014

Presidential Decree No. 26791, Dec. 30, 2015

Presidential Decree No. 27205, May 31, 2016

Presidential Decree No. 27444, Aug. 11, 2016

Presidential Decree No. 27829, Feb. 3, 2017

Presidential Decree No. 28141, jun. 20, 2017

Presidential Decree No. 28145, jun. 27, 2017

Presidential Decree No. 28218, Jul. 26, 2017

 Article 1 (Purpose)
The purpose of this Decree is to prescribe matters delegated by the Act on Real Name Financial Transactions and Confidentiality and matters necessary for the enforcement thereof. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
 Article 2 (Financial Companies, etc.)
The term "institutions as determined by Presidential Decree" in subparagraph 1 (n) of Article 2 of the Act on Real Name Financial Transactions and Confidentiality (hereinafter referred to as the "Act") shall be as follows: <Amended by Presidential Decree No. 17646, Jun. 29, 2002; Presidential Decree No. 17791, Dec. 5, 2002; Presidential Decree No. 18491, Jul. 29, 2004; Presidential Decree No. 19002, Aug. 17, 2005; Presidential Decree No. 20653, Feb. 29, 2008; Presidential Decree No. 20947, Jul. 29, 2008; Presidential Decree No. 21518, May 29, 2009; Presidential Decree No. 25790, Nov. 28, 2014; Presidential Decree No. 25945, Dec. 30, 2014; Presidential Decree No. 27205, May 31, 2016; Presidential Decree No. 28141, Jun. 20, 2017; Presidential Decree No. 28145, Jun. 27, 2017>
1. Bond register agencies under the State Bond Act and the Registration of Bonds and Debentures Act;
2. Specialized credit finance companies and new technology venture business investment associations under the Specialized Credit Finance Business Act;
3. Korea Technology Finance Corporation under the Korea Technology Finance Corporation Act;
4. A person who has registered credit business or loan brokerage business under Article 3 the Act on Registration of Credit Business, etc. and Protection of Finance Users;
5. Small and medium enterprise establishment investment companies, and small and medium enterprise establishment investment associations under the Support for Small and Medium Enterprise Establishment Act;
6. Credit Guarantee Fund under the Credit Guarantee Fund Act;
7. Regional and specialized forestry cooperatives and the federation thereof under the Forestry Cooperatives Act;
8. Credit guarantee foundations under the Regional Credit Guarantee Foundation Act;
9. Deleted; <Presidential Decree No. 20947, Jul. 29, 2008>
10. Exchange under the Financial Investment Services and Capital Markets Act(limited to the cases where requesting to offer information on details of the report referred to in Article 391 (2) 1 of the Financial Investment Services and Capital Markets Act and on request for reports or confirmation referred to in 3 of the same paragraph in accordance with Article 392 (2) of the same Act);
11. Korea Housing Finance Corporation under the Korea Housing Finance Corporation Act;
12. A business entity engaged in overseas remittance of small amount who has registered under Article 8 (3) 2 of the Foreign Exchange Transactions Act;
13. Other individuals or corporations engaged in de facto financial transactions as determined by Ordinance of the Prime Minister.
 Article 3 (Real Name)
Real name referred to in subparagraph 4 of Article 2 of the Act shall be according to the following classification: <Amended by Presidential Decree No. 17646, Jun. 29, 2002; Presidential Decree No. 18491, Jul. 29, 2004; Presidential Decree No. 19002, Aug. 17, 2005; Presidential Decree No. 20653, Feb. 29, 2008>
1. In the case of an individual, his/her name and resident registration number recorded on his/her resident registration card: Provided, That in case of a Korean national residing abroad, his/her name and passport number recorded in his passport (in case of a Korean national residing abroad to whom a passport has not been issued, his/her name and registration number recorded in the register under the Registration of Korean Nationals Residing Abroad Act);
2. In the case of a corporation (including an unincorporated association considered as a corporation pursuant to the Framework Act on National Taxes; hereinafter the same shall apply), the title and registration number recorded on the business registration certificate which is issued pursuant to the Corporate Tax Act: Provided, That in case of a corporation to whom the business registration certificate has not been issued, the title and tax payment number recorded in the document carrying the tax code number granted pursuant to the Corporate Tax Act;
3. In the case of an organization other than a corporation, the real name of the person representing the organization: Provided, That in case of an organization granted a specific number pursuant to the Value-Added Tax Act or granted a tax payment number pursuant to the Income Tax Act, the title and specific number or tax payment number of the organization recorded in the document thereof;
4. In the case of a foreigner, the name and the registration number written on a registered alien record pursuant to the Immigration Act: Provided, That in case of a person to whom an alien registration card has not been issued, his/her name and number written on the passport or the identification card;
5. In a case not falling under subparagraphs 1 through 4 above, the real name as prescribed by Ordinance of the Prime Minister.
 Article 4 (Ommission of Verification of Real Names)
(1) Transactions which does not require to verify real names pursuant to Article 3 (2) 1 and 2 of the Act shall be as follows: <Amended by Presidential Decree No. 19002, Aug. 17, 2005; Presidential Decree No. 28145, Jun. 27, 2017>
1. Continued transactions by accounts in which the real names of the persons concerned are verified;
2. Receiving various kinds of public imposts;
3. Remittance of won currency amounting up to one million won or its equivalent foreign currency (including deposits without passbook), and purchase or sale of foreign currency equivalent to one million won or less;
4. Transactions such as the purchase of foreign currencies, receipt of deposits in foreign currency or sale of bonds in foreign currency, which are traded after the enforcement date of the Act and until December 31, 1998.
(2) Specific bonds referred to in Article 3 (2) 3 (a), (c) and (e) of the Act shall be as follows: <Newly Inserted by Presidential Decree No. 15744, Mar. 25, 1998; Presidential Decree No. 16709, Feb. 14, 2000; Presidential Decree No. 19002, Aug. 17, 2005; Presidential Decree No. 20261, Sep. 10, 2007; Presidential Decree No. 21835, Nov. 20, 2009; Presidential Decree No. 25279, Mar. 24, 2014>
1. Deleted; <by Presidential Decree No. 21928, Dec. 30, 2009>
2. Bonds issued by the Small and Medium Business Corporation pursuant to Article 65 of the Small and Medium Enterprises Promotion Act;
3. Deposit insurance fund bonds referred to in Article 26-2 of the Depositor Protection Act;
4. Non-performing Claim Resolution Fund bonds referred to in Article 40 of the Act on the Efficient Disposal of Non-Performing Assets, etc. of Financial Companies and the Establishment of Korea Asset Management Corporation.
(3) Transactions of specific bonds referred to in Article 3 (2) of the Act shall be deemed to include the transactions of checks used for transacting the specific bonds concerned. <Newly Inserted by Presidential Decree No. 15788, May 6, 1998>
 Article 4-2 (Verification, etc. of Real Name Transactions)
(1) When any financial transaction is conducted, the real name of a person shall be verified by certificates and documents classified as the following:
1. In the case of an individual: <Amended by Presidential Decree No. 28141, Jun. 20, 2017>
(a) For any person to whom a resident registration certificate is issued, his/her resident registration certificate: Provided, That if it is impracticable to verify his/her real name with the certificate, any certificate verifying his/her real name, which is issued by a national agency, local government or the head of a school under the Framework Act on Education, or an abstract of his/her resident registration card which includes his/her resident registration number and any certificate proving his/her identity shall be used for verification;
(b) For any person to whom a resident registration certificate is not issued, an abstract of his/her resident registration card which includes his/her resident registration number and any certificate under item (a) of his/her legal representative, or any certificate or document verifying the real name;
(c) For any Korean national abroad, his/her passport under the proviso to subparagraph 1 of Article 3 or registration certificate of overseas Korean nationals;
2. In the case of a corporation: its business registration certificate under subparagraph 2 of Article 3, any document with tax payment numbers or a copy thereof;
3. In the case of an organization, other than a corporation: any certificate or document referred to in subparagraph 1 verifying the real name of a person who represents the relevant organization under subparagraph 3 of Article 3: Provided, That the real name of any organization under the proviso to subparagraph 3 of Article 3 shall be verified by any document with identification numbers or tax payment numbers, or a copy thereof;
4. In the case of a foreigner: his/her alien registration card, his/her passport or identification card under subparagraph 4 of Article 3;
5. Where it is impracticable to verify the real name of a person in accordance with subparagraphs 1 through 4: any certificate or document determined by the Financial Services Commission, including a written confirmation or certificate issued by the head of a relevant agency.
(2) Financial companies, etc. may entrust the duty of verifying real name transactions to any other financial company, etc. under Article 3 (7) of the Act.
(3) The Financial Services Commission may determine and publicly notify the details necessary for procedures and methods for entrusting the duty specified in paragraph (2).
[This Article Newly Inserted by Presidential Decree No. 25790, Nov. 28, 2014]
 Article 5 (Scope of Persons Working for Financial Companies, etc.)
Persons working for financial companies, etc. referred to in Article 4 of the Act shall be executive officers and employees of financial companies, etc., their agents, servants or other employees, who are actually engaged in the business of dealing with and managing information or data on content of financial transactions. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
 Article 6 (Scope of Transaction Information)
Information or data on contents of financial transactions specified in Article 4 (1) of the Act and Article 5 of this Decree shall be the conduct of financial transactions by a specific person, any original or copy of records on financial transactions which any financial company, etc. possesses, and any information learned from the records (hereinafter referred to as "transaction information"): Provided, That this shall not include transaction information from which it is impossible to determine who is conducting the financial transaction or for whom it is made (except where the identity of the trader can be easily verified in combination with other transaction information, even if his identity cannot be verified solely on the basis of the transaction information in question). <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
 Article 6-2 (Real Estate Transaction as to Which Inquiry about Financial Transaction Information Is to Be Made)
(1) The term "real estate transaction prescribed by the Presidential Decree" in the proviso to Article 4 (2) of the Act, excluding its subparagraphs, means the transaction of real estate (including any right to such real estate; hereafter in this Article the same shall apply) which falls under any of the following subparagraphs: <Amended by Presidential Decree No. 19002, Aug. 17, 2005; Presidential Decree No. 27444, Aug. 11, 2016; Presidential Decree No. 27829, Feb. 3, 2017>
1. Transaction of real estate which is made in violation of the Act on Special Measures for the Registration of Real Estate;
2. Transaction of real estate which is made in violation of the Act on the Registration of Real Estate under Actual Titleholder’s Name;
3. Transaction of real estate in which the broker, etc. provided for in the Real Estate Brokerage Act transfer the real estate directly acquired by himself in violation of the said Act;
4. Transaction of real estate in which the status of being selected as an occupant of a house within an overheated speculation district is transferred in violation of the Housing Act;
5. Transaction of real estate in which one household referred to in subparagraph 6 of Article 88 of the Income Tax Act transfers real estate, satisfying all the requirements of the following items:
(a) That the one household has transferred or acquired real estates not less than three times within a year retroactive from the date of transferring a real estate;
(b) That the total sum of standard market prices of the transferred real estate under Article 99 of the Income Tax Act is not less than 500 million won (including the transaction of real estate determined by the Commissioner of the National Tax Administration in which the land exceeding the size subject to the permission of land transaction contract within the area subject to the permission of land transaction contract under Article 117 of the National Land Planning and Utilization Act is transferred through division, of which total sum of standard market prices thereof is less than 500 million won), or the transaction of real estate in which any right to the real estate is transferred is included;
(c) That any party to the transaction of the real estates does not present documents required for a verification of their actual trade prices or the contents of the documents presented are clearly false.
(2) The term "in the event that it is requested as prescribed by the Presidential Decree" in the proviso to Article 4 (2) of the Act, excluding its subparagraphs, means the case where provision of transaction information, etc. is requested in the name of any person falling under any of the following subparagraphs: <Amended by Presidential Decree No. 26791, Dec. 30, 2015>
1. The Commissioner of the National Tax Administration or the Commissioner of a Regional Tax Office;
2. The Commissioner of the Korea Customs Service, the head of the Incheon Customs, the head of the Seoul Customs, the head of the Busan Customs, the head of the Daegu Customs, or the head of the Gwangju Customs;
3. The Special Metropolitan City Mayor, Metropolitan City Mayor, or Do governor.
[This Article Newly Inserted by Presidential Decree No. 18491, Jul. 29, 2004]
 Article 7 (Provision of Transaction Information upon Request by Holder of Title Deed)
(1) Where a person working for a financial company, etc. referred to in Article 5 (hereinafter referred to as "employee of a financial company, etc.") is requested to provide transaction information by a holder of a title deed, he/she shall confirm whether the requesting person is a holder of a title deed. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
(2) Where a person who holds a position to exercise the legal power of a holder of a title deed over his financial assets, such as the successor to the holder of a title deed or the testamentary donee, makes a request to provide transaction information, any employee of a financial company, etc. shall confirm whether such legal power exists. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
(3) Financial companies, etc. shall ensure that transaction information is not leaked to any other person in the course of confirming the holder of a title deed or providing transaction information, and shall determine methods of and procedures for confirming holders of title deeds and providing transaction information. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
 Article 8 (Provision of Transaction Information by Consent of Holder of Title Deed)
(1) A financial company, etc. shall notify the following to the holder of a title deed in advance and receive a written consent (including an electronic document under Article 2 (1) of the Framework Act on Electronic Documents and Transactions; hereafter the same shall apply in this Article) including the relevant matters if it intends to provide any person other than the holder of a title deed with transaction information by the consent of the holder of a title deed. In this case, it shall receive the written consent of all holders of title deeds if there are two or more: <Amended by Presidential Decree No. 25790, Nov. 28, 2014; Presidential Decree No. 28141, Jun. 20, 2017>
1. The persons who will receive transaction information;
2. The financial companies, etc. which will provide transaction information;
3. The details and scope of transaction information to be provided;
4. The purpose of providing transaction information, etc.;
5. The fact that the consent may be denied and the details of disadvantage which may be caused by denial of the consent if any;
6. Deleted; <by Presidential Decree No. 28141, Jun. 20, 2017>
7. The date of drawing up a written consent;
8. The term of validity of a written consent.
(2) Where a financial company, etc. receives a written consent under paragraph (1), it shall confirm whether the holder of a title deed consents by using methods falling under any of the following, and keep the relevant materials such as documents which have been used for such confirmation: <Newly inserted by Presidential Decree No. 28141, Jun. 20, 2017>
1. An autograph or a thumbmark of the holder of a title deed (limited to where the holder of a title deed directly submits the written consent to the financial company, etc., or an public official submits the written consent to the financial company, etc. upon receipt of the written consent from the holder of a title deed to perform his/her public duties);
2. A seal which is indicated on his/her seal imprint reported under Article 3 of the Certification of Seal Imprint Act, his/her seal imprint which is submitted under Article 25 of the Commercial Registration Act, or his/her seal imprint which the holder of a title deed has registered in the relevant financial company, etc. (including a seal imprint of signature);
3. A signature on the confirmation certificate of personal signature or electronic confirmation certificate of personal signature under Article 2 of the Act on Confirmation, etc. of Personal Signature;
4. A certified digital signature under subparagraph 3 of Article 2 of the Digital Signature Act;
5. Confirmation of the real name under each subparagraph of Article 3;
6. A method that notifies the holder of a title deed of the consent matters through a telephone call to confirm his/her consent intention;
7. Other methods which the Financial Services Commission determines and publicly notifies as means securing the stability and reliability.
(3) A financial company, etc. may, if the content entered in a written consent under paragraph (1) are ambiguous or suspicious, have the holder of a title deed confirm the content thereof. <Amended by Presidential Decree No. 25790, Nov. 28, 2014; Presidential Decree No. 28141, Jun. 20, 2017>
 Article 9 (Provision of Transaction Information inside Same Financial Company, etc. or between Financial Companies, etc.)
(1) The provision of transaction information necessary for business inside the same financial company, etc. under Article 4 (1) 5 of the Act means the provision of transaction information necessary for business between persons who manage part of the business entrusted by the relevant financial company, etc. or by any other contract and the main office, branch, business place thereof. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
(2) The provision of transaction information necessary for business between financial companies, etc. under Article 4 (1) 5 of the Act means the provision by a financial company, etc. of transaction information necessary for business to any other financial company, etc., or the provision by a financial company, etc. of transaction information necessary for business to a person who collects, manages and provides transaction information or to a person who handles financial asset transfer business between traders under statutes or agreements between financial companies, etc. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
 Article 10 (Scope of Personal Information on Traders)
Personal information on the holder of a title deed defined in Article 4 (2) 1 of the Act shall be any of the following: <Amended by Presidential Decree No. 17646, Jun. 29, 2002; Presidential Decree No. 25790, Nov. 28, 2014>
1. Name of the holder of a title deed (name of a corporation or an organization);
2. Resident registration number (including all numbers, such as passport numbers and business registration numbers, used for confirming the holder of a title deed at the time of financial transactions);
3. Account number;
4. Deed number;
5. Other information by which financial companies, etc. can identify whose transaction information.
 Article 10-2 (Scope of Expenses Spent to Notify Title Holder)
Expenses to be borne by anyone who has requested provision of transaction information, etc. pursuant to Article 4-2 (4) of the Act shall not exceed postage fees directly spent by any financial company, etc. to notify the title holder concerned of the fact of such provision. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
[This Article Newly Inserted by Presidential Decree No. 18491, Jul. 29, 2004]
 Article 11 (Request for Statistical Data)
The Financial Services Commission may request the head of the following agency which supervises and inspects the financial companies, etc. pursuant to the statutes, to present statistical data with regard to the number of demand and provision of transaction information, etc. and the number of notices and deferred notices demanded by business type of financial companies, etc, and the number of demand and provision of transaction information, etc. and the number of notices and deferred notices by demanding agency within two months after the end of each quarter. In this case, the head of the supervisory and inspection agency for financial companies, etc. requested therefor shall cooperate therewith in the absence of special circumstances: <Amended by Presidential Decree No. 19002, Aug. 17, 2005; Presidential Decree No. 20653, Feb. 29, 2008; Presidential Decree No. 24435, Mar. 23, 2013; Presidential Decree No. 25790, Nov. 28, 2014; Presidential Decree No. 28218, Jul. 26, 2017>
1. Minister of Science and ICT;
2. Governor of the Financial Supervisory Service;
3. President of the Korean Federation of Community Credit Cooperatives under the Community Credit Cooperatives Act;
4. President of the National Forestry Cooperatives Federation under the Forestry Cooperatives Act.
[This Article Wholly Amended by Presidential Decree No. 17646, Jun 29, 2002]
 Article 12 Deleted. <by Presidential Decree No. 17646, Jun. 29, 2002>
 Article 13 (Standard for Imposition of Administrative Fines)
(1) The standards for imposing administrative fines under Articles 7 (1) and 8 of the Act shall be as specified in the attached Table. <Amended by Presidential Decree No. 25790, Nov. 28, 2014>
(2) The head of supervisory and inspection agency for financial companies, etc. as determined by Ordinance of the Prime Minister shall investigate any offense referred to in Article 7 (1) of the Act and notify the Financial Services Commission thereof. <Amended by Presidential Decree No. 17646, Jun. 29, 2002; Presidential Decree No. 20653, Feb. 29, 2008; Presidential Decree No. 25790, Nov. 28, 2014>
(3) through (5) Deleted. <by Presidential Decree No. 25790, Nov. 28, 2014>
ADDENDA
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 (Repeal of Other Statutes)
The following Acts and subordinate statutes are hereby repealed:
1. Enforcement Decree of the Presidential Financial and Economic Emergency Order on Real Name Financial Transactions and Guarantee of Secrecy;
2. Regulations on Article 4 of the Enforcement Decree of the Presidential Financial and Economic Emergency Order on Real Name Financial Transactions and Guarantee of Secrecy.
Article 3 (Value of Financial Assets)
The value of financial asset referred to in Articles 6 (1) and 8 (1) of the Addenda of the Act shall be the following amounts:
1. Deposits, deposit money, and trust property, etc.: the amount which can be withdrawn as of August 12, 1993;
2. Financial assets by accumulation method such as installment deposits, installments, fraternity dues; the total sum paid in until August 12, 1993;
3. Premiums and amounts deducted: the amount which can be refunded as of August 12, 1993;
4. Stocks, investment equity and beneficiary certificates: the amount calculated by multiplying the price fixed on the last business day before August 12, 1993 by the quantity;
5. Bonds: the value as determined by the Ordinance of the Prime Minister;
6. Bills: the buying price;
7. Financial assets not provided in subparagraphs 1 through 6: the amount calculated by the method for calculating the value of financial assets similar to the financial assets concerned.
Article 4 (Causes for Exemption from Penalty Surcharges on Those Who Have Converted into Real Names)
The term "causes as determined by the Presidential Decree" in Article 6 (2) of the Addenda of the Act means where a person falling under any of the following subparagraphs as of October 12, 1993, from among traders of existing financial assets, has no lineal ascendants or descendants (excluding minors; hereinafter in this Article the same shall apply) or spouse, or where there is cause that his lineal ascendants or descendants fall under any of the following subparagraphs and the cause continues even after the date of entry into force of the Act:
1. Where any of them is hospitalized at a medical institution under the Medical Service Act or isolated and housed at a preventive facility under the Prevention of Contagious Diseases Act due to disease;
2. Where any soldier or police officer lives in barracks or on board a ship pursuant to statutes;
3. Where any of them continues to be housed, detained, in custody or otherwise in a prison, detention house, juvenile reformatory, juvenile classification home, protective internment facility or protective guidance office, etc.;
4. Where it is unclear who will be a legal title holder of financial assets to be converted into real name due to the pendency of action or the process of inheritance proceedings, etc.;
5. Where a seaman has departed from the country on an ocean-going ship;
6. Where any of them has emigrated abroad and acquired a denizenship or long-term stay status, etc.;
7. Where any of them stays abroad for the purpose of official business, commercial business, studying and training, etc.;
8. Where it is deemed that there are obvious compelling causes corresponding to subparagraphs 1 through 7.
Article 5 (Notification of Real Name-Converted Assets)
(1) Notification to the Commissioner of the National Tax Administration referred to in Article 8 (2) of the Addenda of the Act shall be made by the end of the month following the month in which the conversion into real name is made.
(2) A financial institution shall specify the date of conversion into real name, names before and after conversion into real names, resident registration numbers and real name-converted amount in making the notification under Article 8 (2) of the Addenda of the Act.
Article 6 (Special Cases for Tax Investigations on Specific Bonds and Small and Medium Business Investments)
(1) The bearer of specific bonds referred to in Article 9 of the Addenda of the Act shall be: <Newly Inserted by Presidential Decree Mar. 25, 1998>
1. A person who holds specific bonds;
2. A person who, having specific bonds redeemed at maturity, has been confirmed by the issuing agency of the bonds or a financial institution that he has had the bonds redeemed at maturity under his real name.
(2) Where an issuing agency of specific bonds or a financial institution confirms the fact that a person has had bonds redeemed at maturity pursuant to paragraph (1) 2, it shall issue to the person having the bonds redeemed a fact-confirmation of redemption at maturity on which the bond name, persons to have bonds redeemed, amount of redemption and date of redemption are entered, and transmit the copy thereof to the Commissioner of the National Tax Administration within ten days from the date on which the copy is confirmed. <Newly Inserted by Presidential Decree Mar. 25, 1998>
(3) The term "period as determined by the Presidential Decree" listed in the purview of Article 10 (1) of the Addenda of the Act means the period from the date of entry into force of the Act until December 31, 1998. <Amended by Presidential Decree Jul. 1, 1998>
(4) The term "small and medium business as determined by the Presidential Decree" listed in Article 10 (1) 1 of the Addenda of the Act means any small and medium business under Article 2 of the Enforcement Decree of the Act on Regulation of Tax Reduction and Exemption (hereinafter in this Article referred to as "small and medium business") as of the date of contribution.
(5) The term "those as determined by the Presidential Decree" listed in Article 10 (1) 2 of the Addenda of the Act means the following corporations or associations:
1. New technology business investment associations under the Specialized Credit Finance Business Act;
2. Specialized credit finance companies which have registered only new technology financial businesses pursuant to Article 3 (1) of the Specialized Credit Finance Business Act and persons who have been deemed to have registered new technology financial businesses and equipment rental businesses pursuant to Article 4 (6) of the Addenda of the Specialized Credit Finance Business Act.
(6) The term "those as determined by the Presidential Decree" listed in Article 10 (1) 3 of the Addenda of the Act means the following financial institutions:
1. The Industrial Bank of Korea under the Industrial Bank of Korea Act;
2. Financial institutions to which the provisions of the proviso of Article 16 (1) of the Banking Act apply;
3. Mutual savings and finance companies under the Mutual Savings and Finance Company Act;
4. Specialized credit finance companies under the Specialized Credit Finance Business Act;
5. Financial institutions as determined by the Minister of Finance and Economy from among those established with authorization under the Banking Act.
(7) The term "credit guarantee institutions as determined by the Presidential Decree" listed in the purview of Article 10 (2) of the Addenda of the Act means:
1. The Credit Guarantee Fund under the Credit Guarantee Fund Act;
2. The Technology and Credit Guarantee Fund under the Financial Assistance to New Technology Businesses Act;
3. Organizations referred to in Article 19-2 (1) of the Enforcement Decree of the Credit Guarantee Fund Act or Article 22-2 (1) of the Enforcement Decree of the Financial Assistance to New Technology Businesses Act.
(8) The term "causes as determined by the Presidential Decree" listed in the proviso to Article 10 (3) 3 of the Addenda of the Act means the following causes:
1. Where contribution quotas or investment quotas are transferred by a compulsory execution or disposition for arrears under a decision of the court or statutes;
2. Where a minor stockholder under Article 20 (3) of the Income Tax Act recalls his contribution quotas due to the dissolution of the corporation concerned.
(9) The term "cases as determined by the Presidential Decree" listed in Article 10 (3) 4 of the Addenda of the Act means:
1. Where a contributed corporation does not fall under the category of small and medium business due to a change of major businesses before five years elapse from the date of contribution;
2. Where a contributed corporation is dissolved or closes down its business operations before five years elapse from the date of contribution;
3. Where a contributed corporation, if it is newly established, does not start business before five years elapse from the date of contribution.
Article 7 (Contribution Methods of Contribution Imposts)
(1) A resident who intends to contribute imposts pursuant to Article 10 (2) of the Addenda of the Act shall submit an application for contributing imposts in which the following matters are entered, together with contribution imposts, to a credit guarantee institution referred to in Article 6 (7) of the Addenda (hereinafter referred to as "credit guarantee institution") by the end of the month following that in which the date of contribution falls: <Amended by Presidential Decree Mar. 25, 1998>
1. The financial institution to which he contributed, the amount of contribution and the time of contribution;
2. The credit guarantee institution to which he intends to contribute imposts, and the amount of contribution.
(2) Contribution imposts shall be deemed to have been contributed when the credit guarantee institution receives the application for contributing imposts referred to in paragraph (1) together with contribution imposts.
(3) Where a credit guarantee institution receives contribution imposts, it shall issue a confirmation of contribution imposts in which the following matters are entered, and transmit a copy thereof to the head of the district tax office having jurisdiction over the contributor’s address:
1. The contributor, the amount of contribution and the time of contribution;
2. The financial institution to which the contributor has contributed, the amount of contribution and the time of contribution.
Article 8 (Agency Promoting Real Name Financial Transactions)
The term "time as determined by the Presidential Decree" listed in Article 11 of the Addenda of the Act means December 31, 1999.
Article 9 Deleted. <by Presidential Decree No. 16664, Dec. 31, 1999>
Article 10 Omitted.
ADDENDUM <Presidential Decree No. 15744, Mar. 25, 1998>
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 15788, May 6, 1998>
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 15821, Jul. 1, 1998>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 16234, Apr. 9, 1999>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDA <Presidential Decree No. 16664, Dec. 31, 1999>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 2000: Provided, That …(Omitted.)… the provision of Article 8 of this Addenda shall enter into force on January 1, 2001.
Articles 2 through 9 Omitted.
ADDENDA <Presidential Decree No. 16709, Feb. 14, 2000>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Presidential Decree No. 17646, Jun. 29, 2002>
This Decree shall enter into force on July 1, 2002.
ADDENDA <Presidential Decree No. 17791, Dec. 5, 2002>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 and 3 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. 18491, Jul. 29, 2004>
(1) (Enforcement Date) This Decree shall enter into force on July 30, 2004.
(2) (Applicability to Postage Fees) The provisions governing the postage fees to be borne by anyone who has asked for furnishing transaction information, etc. pursuant to Article 10-2 shall apply to the postage which a financial institution requested to furnish transaction information, etc. pursuant to Article 4 of the Act spends, on or after the enforcement date of this Decree, to notify the title holder concerned of the fact of furnishing such transaction information, etc. under Article 4-2 of the Act.
ADDENDUM <Presidential Decree No. 19002, Aug. 17, 2005>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 20261, Sep. 10, 2007>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 7 Omitted.
ADDENDA <Presidential Decree No. 20653, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on date of its promulgation. (Proviso Omitted.)
Article 2 Omitted.
ADDENDA <Presidential Decree No. 20947, Jul. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on February 4, 2009. (Proviso Omitted.)
Articles 2 through 28 Omitted.
ADDENDA <Presidential Decree No. 21518, May 29, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on June 1, 2009.
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 21835, Nov. 20, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on November 22, 2009.
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 21928, Dec. 30, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 2010.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 24435, Mar. 23, 2013>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 25279, Mar. 24, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 and 3 Omitted.
ADDENDUM <Presidential Decree No. 25790, Nov. 28, 2014>
This Decree shall enter into force on November 29, 2014.
ADDENDA <Presidential Decree No. 25945, Dec. 30, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date when merger is registered pursuant to Article 4 (6) of the Addenda to the wholly amended Korea Development Bank Act (Act No. 12663).
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 26791, Dec. 30, 2015>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 18, 2016. (Proviso Omitted.)
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 27205, May 31, 2016>
Article 1 (Enforcement Date)
This Decree shall enter into force on September 30, 2016. (Proviso Omitted.)
Articles 2 and 3 Omitted.
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. 27829, Feb. 3, 2017>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 and 15 Omitted.
ADDENDUM <Presidential Decree No. 28141, Jun. 20, 2017>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 28145, Jun. 27, 2017>
Article 1 (Enforcement Date)
This Decree shall enter into force on July 18, 2017.
Articles 2 through 7 Omitted.
ADDENDA <Presidential Decree No. 28218, Jul. 26, 2017>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 3 Omitted.