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ENFORCEMENT DECREE OF THE ACT ON THE OPERATION OF LOCAL GOVERNMENT-INVESTED OR -FUNDED INSTITUTIONS

Presidential Decree No. 25621, Sep. 24, 2014

Amended by Presidential Decree No. 25751, Nov. 19, 2014

Presidential Decree No. 27623, Nov. 29, 2016

Presidential Decree No. 28211, Jul. 26, 2017

CHAPTER I GENERAL PROVISIONS
 Article 1 (Purpose)
The purpose of this Decree is to provided for matters delegated by the Act on the Operation of Local Government-Invested or -Funded Institutions and matters necessary for the enforcement thereof.
 Article 2 (Standards for Calculation of Ownership Stake in Local Government-Invested Institutions)
"The methodology and calculation criteria provided for by Presidential Decree" referred to in the latter part of Article 2 (1) of the Act on the Operation of Local Government-Invested or -Funded Institutions (hereinafter referred to as "Act") shall mean the proportion expressed in percentage, of total number of stocks held by each local government among the total number of stocks issued by a local government-invested institution.
CHAPTER II INVESTMENTS OR FUNDS BY LOCAL GOVERNMENTS, DESIGNATION, PUBLIC NOTIFICATION, ETC.
 Article 3 (Designation as Local Government-Invested or -Funded Institutions, Public Notification, etc.)
(1) The head of a local government [referring to the Special Metropolitan City Mayor, Metropolitan City Mayor, Special Self-Governing City Mayor, Do Governor or Special Self-Governing Province Governor (hereinafter referred to as "Mayor/Do Governor") or the head of a Si/Gun/Gu (referring to the head of an autonomous Gu; hereinafter the same shall apply) that has made investments or funds pursuant to Article 4 of the Act] shall notify the Minister of the Interior and Safety of an institution, which is to be designated as a local government-invested and -funded institution, the designation of which is to be cancelled or which is to be designated as such after modifying the designation under Article 5 of the Act, by December 31 of each year. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
(2) The head of the local government shall notify the Minister of the Interior ad Safety within 30 days where the legal personality or name, etc. of a local government-invested or -funded institution designated and publicly notified pursuant to Article 5 of the Act (hereinafter referred to as "local government-invested and -funded institution") is revised or a reason falling under any of the subparagraphs of the same Article arises during a fiscal year. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
(3) The Minister of the Interior and Safety upon receipt of notification under paragraph (1) or (2) shall consult with the head of an agency in charge (hereinafter referred to as "head of a competent agency") under the main body of Article 5 of the Act and the head of a local government and publicly notify the designation of an institution as a local government-invested or -funded institution, the cancellation of designation, or the designation after revision thereof. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
(4) The Minister of the Interior and Safety shall delegate notification to the Mayor/Do Governor where the head of a Si/Gun/Gu provides notification of the matters under paragraph (1) or (2). <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
 Article 4 (Composition and Operation of the Operational Deliberation Committees of Local Government-Invested or -Funded Institutions)
(1) "Matters specified by Presidential Decree" referred to in Article 6 (1) 7 of the Act shall mean the following:
1. Matters concerning the evaluation of a performance contract entered into with the head of a local government-invested or -funded institution under Article 11 of the Act;
2. Matters concerning the evaluation of business performance under Article 28 of the Act;
3. Matters concerning dismissal or termination of appointment of a members of an operational deliberation committee of a local government-invested or -funded institution (hereinafter referred to as "deliberation committee") under Article 5 (1);
4. Other matters deemed necessary by the chairperson of a deliberation committee (hereinafter referred to as "chairperson").
(2) The chairperson shall call meetings of a deliberation committee and preside over the meetings.
(3) Where the chairperson is unable to perform duties due to unavoidable circumstances a member designated in advance by the chairperson shall perform such duties in lieu of the chairperson.
(4) The members of a deliberation committee shall be appointed or commissioned by the head of a local government from among the following persons:
1. Three or less persons (excluding local council person) recommended by the local council;
2. Public officials designated by the head of relevant local governments of a number up to one-fourth of the number of total members;
3. Persons recommended by the chairperson from among persons with expertise and experience in the operation of local government-invested and -funded institutions in the fields of law, economics, journalism, academics, labor, etc.
(5) Quorum of a deliberation committee shall be a majority of the members and resolutions shall be adopted by simple majority of quorum.
(6) A deliberation committee may request relevant public officials, executives or employees of a local government-invested and -funded institution, etc. to attend a meeting, submit data or provide opinions if necessary for the performance of duties.
(7) A deliberation committee may pay allowances, travel expenses, or other necessary expenses to private members within the budgetary limit.
(8) In addition to those persons provided for in paragraphs (1) through (7) matters necessary for the composition and operation of a deliberation committee shall be provided for by Municipal Ordinance of the local government.
 Article 5 (Dismissal, etc. of Members Deliberation Committees)
(1) The head of local government may dismiss or terminate a delegation agreement where a member of a deliberation committee satisfies any of the following:
1. Where a member becomes an executive of a local government-invested or -funded institution by the relevant local government: Provided, That where such member becomes an ex officio executive such case shall be excluded;
2. Where a member is indicted in a criminal case related to the duties;
3. Where a member is unable to perform duties due to physical or mental disorder;
4. Where a member is deemed to be unfit for the performance of duties as a result of negligence in duties, harm to dignity or other reasons.
(2) The term of office of a member appointed to fill a vacancy due to the dismissal or termination of appointment under paragraph (1) shall be the remaining term of office of such predecessor.
 Article 6 (Disqualification of, Challenge to, or Refrainment by Members of Deliberative Committees)
(1) The members of a deliberation committee shall be disqualified of deliberations or resolutions on matters falling under any of the following:
1. Matters in which a member has direct interest;
2. Matters where a member has interest with an institution, the spouse of the member, lineal descendants and ascendants to the fourth degree relatives or closer with the member, a relative by marriage to the second degree relatives or closer with the member;
3. Matters that a member or an institution to which a member belongs has interest with a person who provides counsel, advice, etc.
(2) Where there is difficulty in the expectation of a fair deliberation and resolution from a member due to certain circumstances, a party may file an application to challenge the objectivity of the member of the committee and the committee shall decide by voting. In such cases, the member subject to challenge shall not participate in the voting.
(3) A member shall refrain by the deliberation and resolution of the relevant agenda where such member satisfies any of the reasons for disqualification under paragraph (1).
 Article 7 (Examination of Validity of Establishment and Operation of Local Government-Invested or -Funded Institutions and Making Public Results of Examination)
(1) The local government may request a specialized institution in the relevant field to examine the validity of establishment and operation of a local government-invested or -funded institution under Article 7 (1) of the Act.
(2) "Where a local government intends to provide additional investments of an amount equivalent to or more than the amount specified by Presidential Decree, or to provide funds of an amount greater than that of the preceding year" referred to in Article 7 (1) shall mean the following: <Newly Inserted by Presidential Decree No. 27623, Nov. 29, 2016>
1. Where the total amount intended to be invested in a local government-invested institution during the relevant fiscal year is at least 5/100 of the capital on the financial statements of the institution as at December 31 of previous year;
2. Where the total amount intended to be contributed to an institution established with contributions from the local government is at least 110/100 of the amount of contribution provided in the last preceding fiscal year.
(3) "Other matters specified by Presidential Decree, such as the effect on the local economy, etc." referred to in Article 7 (1) 3 shall mean the following: <Amended by Presidential Decree No. 27623, Nov. 29, 2016>
1. Effect on the local economy;
2. Local government finances;
3. Matters concerning organization and determination of human resources of a local government-invested and -funded institution.
(4) When a local government conducts an examination under Article 7 (1) of the Act, the results shall be made public on the website of the local government, local daily newspapers, etc. within seven days. In such cases, to obtain opinions of local residents, etc. on the results of the examination, matters relating to the methods of providing opinions and the procedures shall also be made public. <Amended by Presidential Decree No. 27623, Nov. 29, 2016>
(5) Where it is necessary for the examination of validity of establishment and operation of local government-invested and -funded institutions under paragraph (1), the Minister of the Interior and Safety may set detailed standards for examination and shall notify the heads of local governments thereof. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 27623, Nov. 29, 2016; Presidential Decree No. 28211, Jul. 26, 2017>
 Article 8 (Consultation, etc. Upon Establishment of Local Government-Invested or -Funded Institutions)
(1) Where the Mayor/Do Governor or the head of a Si/Gun/Gu intends to consult under the main body of Article 7 (2) of the Act, a plan providing the following matters shall be submitted to establish a local government-invested or -funded institution to the local government and the local government shall submit such plan to the Minister of the Interior and Safety or the Mayor/Do Governor: <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 27623, Nov. 29, 2016; Presidential Decree No. 28211, Jul. 26, 2017>
1. Scope and details of business;
2. Available services and goods;
3. Anticipated annual revenue and expenditures for five years after establishment;
4. A plan by the local government of the ownership share in the institution and financial support for five years after establishment;
5. A plan to operate the organization and human resources for five years after establishment;
6. Status of local government-invested and -funded institutions and operation thereof by the local government;
7. Results of examination of the validity of establishment and operation under Article 7 (1) of the Act and details of opinions of local residents, etc. presented pursuant to the latter part of Article 7 (4) of this Decree.
(2) Within one month after the date of receipt of a request for consultation under paragraph (1), the Mayor/Do Governor or the head of a Si/Gun/Gu shall notify the results of consultation to the Mayor/Do Governor or the head of the Si/Gun/Gu. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
(3) The Mayor/Do Governor or the head of a Si/Gun/Gu may determine not to consult with the Minister of the Interior and Safety or the Mayor/Do Governor as provided for in Article 7 (2) 2 of the Act where any of the following is applicable: <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
1. Where the amount of investment or funds to be made by the Special Metropolitan City, Metropolitan City, Special Self-Governing City, Do or Special Self-Governing Province (hereinafter referred to as "City/Do") is less than the following amounts:
(a) Amount of investment: 500 million won;
(b) Amount of fund: 200 million won;
2. Where the amount of investment or contribution to be made by a Si/Gun/Gu (referring to an autonomous Gu; hereinafter the same shall apply) is less than the following amounts:
(a) Amount of investment: 300 million won;
(b) Amount of fund: 100 million won.
CHAPTER III OPERATION OF LOCAL GOVERNMENT-INVESTED OR -FUNDED INSTITUTION
 Article 9 (Matters to Be Stated in the Articles of Incorporation)
"Matters specified by Presidential Decree" referred to in Article 8 (1) 13 of the Act shall mean the following:
1. Issuance of bonds;
2. Methods of public notice;
3. Matters concerning performance of duties by proxy if an executive post is vacant.
 Article 10 (Education and Training of Executives and Employees)
(1) Where the head of a local government-invested or -funded institution intends to conduct education and training of executives and employees pursuant to Article 13 (1) of the Act, an in-house education plan shall be formulated and such expenses are to be allocated for in the budget.
(2) The head of a local government-invested or -funded institution shall support autonomous decision making by executives and employees in the selection of an education and training institute and courses.
(3) When the head of a local government-invested or -funded institution conducts education and training, preference shall be given to education courses or education facilities of State agencies, public organizations, or private institutions.
 Article 11 (Performance of Accounting Duties)
The Minister of the Interior and Safety may set standards for accounting in consideration of the accounting-related statutes of the State and local governments for uniform accounting by local government-invested and -funded institutions under Article 17 (1) and (2) of the Act. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
 Article 12 (Performance of Contractual Duties)
(1) With regard to the standards and procedures for concluding a contract, restrictions on participation in bidding, etc. under Article 17 (6) of the Act, Articles 2, 7 through 42, 42-3, 42-4, 43 through 49, 51, 52, 54 through 56, 64, 66 through 71, 71-2, 71-3, 72 through 78, 78-2, 80 through 86, 86-2, 87 through 89, 89-2, 90 through 92, 94 through 97, 97-2, 98, 98-2, 99, 100, 100-2, 101 and 103 of the Enforcement Decree of the Act on Contracts to Which a Local Government Is a Party shall apply mutatis mutandis insofar as they are not contrary to the nature of the aforementioned provisions. In such cases, "local governments" shall be construed as "local government-invested and -funded institutions", "heads of local governments" as "heads of local government-invested and -funded institutions" and "public officials" as "employees". <Amended by Presidential Decree No. 27623, Nov. 29, 2016>
(2) Notwithstanding paragraph (1), paragraph (1) shall not apply to an institution established with contribution from a local government that receives financial support under Article 19 (1) 1, which is less than one-half of the total revenue under subparagraph 2 of the same paragraph: Provided, That this shall not apply in any of the following cases:
1. Where the local government engages in the appointment (including approval, recommendation, etc.) of the head of the institution or a majority of the members of the board of directors pursuant to statutes, Municipal Ordinance, or the articles of incorporation;
2. Where the local government approves the budget or business plan of the institution pursuant to statutes, Municipal Ordinance or the articles of incorporation.
 Article 13 (Delegation of Contractual Duties)
The heads of local government-invested and -funded institutions may fully or partially delegate the following institutions with contractual duties: <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
1. The heads of central administrative agencies or the heads of local governments;
3. Institutions or juristic persons recognized by the Minister of the Interior and Safety as having expertise in the field of concluding contracts, conducting accounting duties, etc.
 Article 14 (Preparation, etc. of Budgets)
(1) A budget prepared by a local government-invested or -funded institution pursuant to Article 18 (1) of the Act shall include the following:
1. Personnel expenses for affiliated executives, employees, etc.;
2. Explanatory notes on continuing expenses;
3. Explanatory notes on debt-incurring acts;
4. Explanatory notes on the carry-over of budget.
(2) The Minister of the Interior and Safety pursuant to subparagraph 2 of Article 27 of the Act shall notify operational guidelines specifying matters concerning the preparation and execution of a budget for the following year and the operation of funds (hereinafter referred to as "budget preparation guidelines") to the heads of local governments and the heads of local government-invested or -funded institutions by June 30 of each year. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
(3) The heads of local governments shall prepare the detailed matters of budget preparation guidelines pursuant to paragraph (2) and notify the results to the heads of local government-invested and -funded institutions.
 Article 15 (Management of Investments, Funds, etc.)
Local government-invested and -funded institutions shall use a separate account for managing investments, funds, or subsidies.
 Article 16 (Bearing Expenses for Projects Performed as Proxy)
(1) Where the State or a local government bears expenses for projects performed by a proxy by a local government-invested and -funded institution pursuant to the latter part of Article 21 (1) of the Act, the institution shall formulate a fund implementation plan and submit such plan to the State or the local government.
(2) Upon receipt of a fund implementation plan under paragraph (1), the State or a local government shall preferentially provide payment, however, if there is an intention to reschedule the payment date, consultations with the local government-invested or -funded institution shall occur.
(3) Where a local government-invested or -funded institution as a proxy completes a project of the State or the local government expenses borne by the State or the local government shall be promptly settled.
(4) Where a local government-invested or -funded institution as a proxy performs a project of the State or the local government, a third party, where deemed de facto necessary, may perform part of the project with the approval of the head of relevant central administrative agency or the head of the local government.
(5) The scope of expenses for duties of the State under Article 21 (2) of the Act shall be as follows:
1. Expenses incurred in the formulation of a project plan, advance inspection, services, etc.;
2. Facility expenses, personnel expenses, and auxiliary expenses incurred in the execution of a project;
3. Expenses incurred in managing facilities, etc. during the period between the completion of a project and the settlement of accounts or the transfer of facilities, etc.;
4. Fees for implementing a project as a proxy;
5. Other necessary expenses incurred in the implementation of a project.
 Article 17 (Issuance, etc. of Bonds by Local Government-Invested Institutions)
(1) Where a local government-invested institution intends to obtain approval from the head of the local government to issue bonds or obtain a loan (including foreign loans; hereinafter the same shall apply) from a financial institution, etc. pursuant to Article 22 (1) of the Act, an application shall be submitted to the head of the local government stipulating the following matters:
1. Objectives for the issuance of bonds or obtaining a loan;
2. Date of issuance of bonds or a loan;
3. Total amount of bonds issued (referring to the total amount of bonds of all types to be issued if the nominal value of each type bond differs) or total amount of the loan;
4. Interest rates;
5. Methods for repayment of the principal and the maturity date;
6. Methods for the interest payment and the maturity date;
7. Methods of subscription to and underwriting of (limited to the issuance of bonds) bonds.
(2) A local government-invested institution may not issue bonds in excess of the amount obtained by subtracting the outstanding balance (excluding interest) of issued bonds from the amount of net asset (referring to the amount obtained by subtracting total liabilities from total asset on the financial statement) as at the date an application of approval for bond issuance is filed by the institution pursuant to the latter part of Article 22 (1) of the Act.
(3) "Other cases provided for by Presidential Decree" in reference to the latter part of Article 22 (2) of the Act shall mean the following cases:
1. Where the head of a local government deems necessary to solicit funds for the prevention of disasters;
2. Where the head of a local government deems necessary to solicit funds to promote the local economy;
3. Where the head of a local government deems necessary to solicit funds for facilities for international events.
[This Article Wholly Amended by Presidential Decree No. 27623, May 29, 2016]
 Article 18 (Guidance, Supervision, etc.)
(1) "Projects specified Presidential Decree" in reference to Article 25 (1) 2 of the Act shall mean the following projects: <Amended by Presidential Decree No. 27623, Nov. 29, 2016>
1. Projects to which investment, contribution or subsidies are provided by the local government pursuant to Article 20 of the Act;
2. Projects performed as a proxy by a local government-invested and -funded institution pursuant to Article 21 of the Act;
3. Projects for which the local government guarantees repayment pursuant to Article 22 (2) of the Act;
4. Projects where the head of the local government may advise on or supervise as provided for by Municipal Ordinance of the local government.
(2) "Important matters specified Presidential Decree, such as recruitment and dismissal of executives and employees, remuneration system, etc." in reference to Article 25 (2) 2 of the Act shall mean the following:
1. Matters concerning recruitment, dismissal, advancement, etc. of executives and employees;
2. Matters concerning a remuneration system, such as wages, bonuses, separation allowances, welfare allowances, etc.;
3. Matters concerning substantial alterations in property, such as acquisition, disposal, etc. of property.
(3) With respect to advice, supervision, etc. of a local government-invested or -funded institution concurrently with a third party other than any local government pursuant to Article 4 (1) of the Act, the specifics of advice, supervision, etc. shall be determined by mutual agreement between the head of the local government and such third party: Provided, That where an agreement is not reached, the Minister of the Interior and Safety may determine the specifics upon the request of the head of a local government. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
CHAPTER IV EVALUATION OF BUSINESS PERFORMANCE, PUBLIC NOTICE, ETC.
 Article 19 (Institutions Subject to Evaluation of Management Performance)
(1) Local government-invested and -funded institution subject to evaluation of business performance pursuant to Article 28 (1) 1 of the Act shall be the institutions that receive financial support under subparagraph 1 of an amount exceeding one-half the total revenue under subparagraph 2:
1. Subsidy: Total of the following amounts from among the total revenue under subparagraph 2:
(a) Revenue, such as investments, funds, subsidies, etc. that has been transferred from local governments to the relevant institutions for the preceding three years;
(b) Where the relevant institutions are directly delegated with the duties of local governments or are granted with monopolistic business rights pursuant to statutes or Municipal Ordinance for the preceding three years; revenue generated from the delegated duties or monopolistic business rights;
(c) Ancillary revenue generated from operation under items (a) and (b);
2. Total revenue: An amount obtained by excluding an amount, etc. that an institution is obligated to redeem in the future from the revenue earned from business activities or support from the State, local governments, private sectors, etc. for the preceding three years and revenue derived therefrom.
(2) Specific standards for financial support and total revenue under paragraph (1) shall be provided for by the Minister of the Interior and Safety. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
 Article 20 (Evaluation of Business Performance)
(1) The head of a local government shall notify the Minister of the Interior and Safety of the results of business performance evaluated pursuant to Article 28 (1) of the Act by August 31 of each year. In such cases, the head of a Si/Gun/Gu shall provide notification through the Mayor/Do Governor. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
(2) "Other matters provided for by Presidential Decree" in reference to Article 28 (3) 6 of the Act shall mean the following:
1. Results of audit by internal and independent organizations, matters concerning requests for measures, and results of implementation;
2. Matters concerning evaluation of business performance as provided for by Municipal Ordinance;
3. Other matters that the head of a local government requests for submission for the evaluation of business performance.
(3) The head of a Si/Gun/Gu may request the Mayor/Do Governor for support where necessary for the evaluation of business performance under Article 28 of the Act.
 Article 21 (Time Period of Public Notice of Management, etc.)
(1) The time period to provide for public notice of management under Article 32 (2) of the Act shall be as follows:
1. Matters under Article 32 (1) 1 of the Act: Within one month after each fiscal year commences;
2. Matters under Article 32 (1) 2 through 4 of the Act: Within seven days after a statement of accounts for the previous year is submitted pursuant to Article 28 (3) of the Act;
3. Matters under Article 32 (1) 5 of the Act: Within seven days after the completion of an evaluation of whether a performance contract is fulfilled, etc.;
4. Matters under Article 32 (1) 6 of the Act: Within one month from the date on which the results of an evaluation of business performance is notified;
5. Matters under Article 32 (1) 7 of the Act: Within one month from the date on which the results of the audit or the results of performance is notified.
(2) The Minister of the Interior and Safety may determine the specific matters, methods, procedures, etc. of public notice of management under Article 32 of the Act, and notify the heads of local governments thereof. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
 Article 22 (Integrated Public Notice of Results of Evaluation of Business Performance)
(1) The Minister of the Interior and Safety shall provide public notice of the results of the evaluation of business performance which are standardized and integrated pursuant to Article 33 (1) of the Act on the website of the Ministry of the Interior and Safety by October 31 of each year. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
(2) The public notice under paragraph (1) (hereinafter referred to as "integrated public notice") shall contain the following: <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>
1. Status of executives and human resources in operation for local government-invested and -funded institutions;
2. Business performance and current status of financial standing;
3. Results of internal and independent audits and results of implementation;
4. Other matters deemed necessary by the Minister of the Interior and Safety for the results of the evaluation of business performance.
CHAPTER V SUPPLEMENTARY PROVISIONS
 Article 23 (Personally Identifiable Information Management)
The head of a competent agency, heads of local governments, or the heads of local government-invested and -funded institutions may manage data containing resident registration numbers under subparagraph 1 of Article 19 of the Enforcement Decree of the Personal Information Protection Act where unavoidable circumstance arise in the performance of the following duties:
1. The appointment of executives under Article 9 (2) of the Act;
2. The dismissal of executives or request for dismissal under Article 9 (4) of the Act;
3. The verification of reasons for disqualification under Article 10 of the Act;
4. The recruitment of employees under Article 12 (1) of the Act;
5. The restrictions on qualification to conclude contracts or to participate in bidding under Article 17 (3) through (5) of the Act;
6. The exercise of stockholders' rights under Article 23 of the Act;
7. The measures on personnel affairs under Article 30 (3) 1 of the Act.
ADDENDA
Article 1 (Enforcement Date)
This Decree shall enter into force on September 25, 2014.
Article 2 (Applicability concerning Performance of Contract-related Duties)
Article 12 shall begin to apply from the public bidding announcement or a negotiated contract to be entered or concluded by a local government-invested and -funded institution after this Decree enters into force.
Article 3 (Applicability concerning Plan to Execute Funds for Projects Performed as Proxy)
Article 16 (1) shall begin to apply from a project of the State or local government performed as a proxy after this Decree enters into force.
Article 4 (Applicability concerning Integrated Public Notice of Results of Evaluation of Business Performance)
Article 22 shall begin to apply from the results of evaluation of business performance for the fiscal year to which the enforcement date of this Decree pertains.
Article 5 Omitted.
ADDENDA <Presidential Decree No. 25751, Nov. 19, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation: Provided, That with regard to the Presidential Decrees amended pursuant to Article 5 of Addenda, the parts that amend the Presidential Decrees promulgated before this Decree enters into force but of which the enforcement date has not yet arrived shall enter into force on the date on which the respective Presidential Decrees enter into force.
Articles 2 through 5 Omitted.
ADDENDUM <Presidential Decree No. 27623, Nov. 29, 2016>
This Decree shall enter into force on November 30, 2016.
ADDENDA <Presidential Decree No. 28211, Jul. 26, 2017>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation: Provided, That with regard to the Presidential Decrees amended pursuant to Article 8 of Addenda, the parts that amend the Presidential Decrees promulgated before this Decree enters into force but of which enforcement date has not yet arrived shall enter into force on the date on which the respective Presidential Decrees enter into force.
Articles 2 through 8 Omitted.