KOREA AIRPORTS CORPORATION ACT
Act No. 6607, Jan. 14, 2002
Amended by Act No. 7514, May 26, 2005
Act No. 8255, Jan. 19, 2007
Act No. 8852, Feb. 29, 2008
Act No. 9067, Mar. 28, 2008
Act No. 9401, Jan. 30, 2009
Act No. 9548, Mar. 25, 2009
Act No. 9780, jun. 9, 2009
Act No. 10161, Mar. 22, 2010
Act No. 11690, Mar. 23, 2013
Act No. 12474, Mar. 18, 2014
Act No. 12650, May 21, 2014
Act No. 14113, Mar. 29, 2016
Act No. 14115, Mar. 29, 2016
Act No. 14116, Mar. 29, 2016
Act No. 15124, Nov. 28, 2017
Act No. 15406, Feb. 21, 2018
The purpose of this Act is to ensure the efficient construction, management, and operation of airports by establishing the Korea Airports Corporation, which shall implement projects to develop and support the airline industry to facilitate air transportation, thereby contributing to the development of the national economy and the promotion of national welfare. <Amended by Act No. 12474, Mar. 18, 2014>
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 2 (Corporate Personality) |
The Korea Airports Corporation (hereinafter referred to as the "Corporation") shall be a juristic person.
| (1) | The seat of the Corporation's principal office shall be prescribed by its articles of incorporation. |
| (2) | The Corporation may, if deemed necessary to perform its business, open its branch offices, following the resolution of the board of directors. |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 4 (Capital and Investment) |
| (1) | The Corporation's capital shall consist of its stock. |
| (2) | The State or a local government may make investments in kind in the Corporation with their movable or immovable property necessary for the Corporation to perform its business, notwithstanding the provisions of the State Property Act and the Local Finance Act. |
| (3) | The State or a local government may invest the management authority over airport facilities provided for in Article 26 (1) of the Airport Facilities Act in the Corporation, as prescribed by Presidential Decree. <Amended by Act No. 14113, Mar. 29, 2016> |
| (4) | The State or a local government shall comply with the State Property Act in investing in the Corporation under paragraph (2) or (3). <Amended by Act No. 9401, Jan. 30, 2009> |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| (1) | The Corporation shall be established at the time when it registers such establishment at the location of its main office. |
| (2) | Necessary matters concerning the registration of establishment of the Corporation under paragraph (1), the registration of installation of its branch offices, the registration of transfer and alteration, and other registration of the Corporation shall be prescribed by Presidential Decree. |
| (3) | With respect to matters requiring registration, the Corporation may not oppose any third party without making registration thereof. |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 5-2 (Prohibition on Use of Similar Names) |
Anyone who is not the Corporation provided for in this Act shall be prohibited from using the Korea Airports Corporation or any other similar names.
[This Article Newly Inserted by Act No. 8255, Jan. 19, 2007]
| Article 6 Deleted. <by Act No. 9548, Mar. 25, 2009> |
| Article 7 (Appointment of Agent) |
The President may appoint an agent having authority to perform all judicial or extrajudicial acts in connection with the affairs of the Corporation, from among its employees, as prescribed by its articles of incorporation.
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 8 (Prohibition, etc. of Divulging Confidential Information) |
No person who is or was an executive officer or employee of the Corporation shall divulge or misuse confidential information that comes to his/her knowledge in the course of performing duties.
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| (1) | The Corporation shall implement the following projects: <Amended by Act No. 9780, Jun. 9, 2009; Act No. 10161, Mar. 22, 2010; Act No, 12474, Mar. 18, 2014; Act No. 12650, May 21, 2014; Act No. 14113, Mar. 29, 2016; Act No. 14115, Mar. 29, 2016; Act No. 14116, Mar. 29, 2016; Act No. 15406, Feb. 21, 2018> |
| 1. | Management and operation of airports (excluding Incheon International Airport; hereinafter the same shall apply) and the development of neighboring areas required therefor; |
| 3. | Projects prescribed by Presidential Decree to install, expand, or upgrade aircraft, passenger and cargo handling facilities, and other facilities necessary to operate airports, among airport development projects under subparagraph 9 of Article 2 of the Airport Facilities Act; |
| 3-2. | Projects of ground support service specified in subparagraph 19 of Article 2 of the Aviation Business Act and aircraft maintenance service specified in subparagraph 17 of the same Article, which satisfy the detailed standards such as a target area (limited to an airport which inevitably needs operational support of the Corporation for operation safety, etc.) and scope prescribed by Presidential Decree; |
| 4. | Construction and operation of multi-modal transport facilities including terminals to connect air transport with land and marine transport; |
| 5. | Investigation, research, and technological development programs for the projects referred to in subparagraphs 1, 1-2, 2, 3, 3-2, 3-3 and 4; |
| 6. | Manufacturing, sale and export of equipment developed in connection with the programs under paragraph 5; |
| 7. | Programs incidental to the projects under subparagraphs 1, 1-2, 2, 3, 3-2, 3-3, 4 and 5, which are prescribed by Presidential Decree; |
| 9. | Projects entrusted by the State or local governments in connection with the construction, management and operation of an airport and airfield. |
| (2) | The Corporation may conduct each of projects referred to in paragraph (1) in overseas countries; <Amended by Act No, 12474, Mar. 18, 2014> |
| (3) | The Corporation may invest in each of projects referred to in paragraph (1) conducted in Korea or overseas countries and related projects within its budgetary limits through a resolution of the board of directors. <Amended by Act No, 12474, Mar. 18, 2014> |
| (4) | The Corporation shall obtain approval from the Minister of Land, Infrastructure and Transport when it implements projects referred to in paragraph (1) 1-2, 2, 3-2 or 3-3. <Newly Inserted by Act No, 12474, Mar. 18, 2014; Act No. 12650, May 21, 2014; Act No. 15406, Feb. 21, 2018> |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 10 (Free Lease, etc. of State Property) |
| (1) | Where the Minister of Land, Infrastructure and Transport deems it necessary for the efficient implementation of airport development projects conducted by the State and the projects under the subparagraphs of Article 9 (1) conducted by the Corporation, the Minister may lease the state property to the Corporation without compensation therefor, or allow the Corporation to use or to make profits from such property, notwithstanding the provisions of the State Property Act. <Amended by Act No. 11690, Mar. 23, 2013> |
| (2) | The Corporation may not erect a building or other permanent facilities on the state property that is leased, or allowed to be used or to make profits under paragraph (1): Provided, That a building or other permanent facilities may be erected if the relevant state property is invested in the Corporation after such facilities are completed. |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 11 (Sublease, etc. of State Property) |
| (1) | If deemed necessary for the efficient implementation of the airport development project conducted by the State and the projects under the subparagraphs of Article 9 (1) conducted by the Corporation, the Corporation may sublease the state property leased, or allowed to use or to make a profit under Article 10. |
| (2) | When the Corporation intends to sublease any state property in accordance with paragraph (1), it shall obtain approval therefor from the Minister of Land, Infrastructure and Transport. <Amended by Act No. 11690, Mar. 23, 2013> |
| (3) | No person to whom any national property is subleased under paragraph (1) shall lease or allow any other person to use, or make a profit from, such property. |
| (4) | No person to whom any state property is subleased under paragraph (1) shall erect any building or permanent facilities on such state property: Provided, That a building or permanent facilities may be erected if the relevant state property is invested in the Corporation after such facilities are completed. |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 12 (Subsidies, etc.) |
The Government may partially subsidize expenses incurred in the projects of the Corporation, finance treasury fund to the Corporation, or assume bonds issued by the Corporation within its budgetary limits.
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 13 (Issuance, etc. of Bonds) |
| (1) | The Corporation may issue bonds, following a resolution of the board of directors. |
| (2) | The amount of bonds to be issued shall not exceed four times the aggregate capital and reserve of the Corporation. |
| (3) | The Government may guarantee the repayment of the principal and interest of bonds issued by the Corporation. |
| (4) | The period of extinctive prescription of bonds shall be five years for the principal and two years for interest. |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 14 (Borrowing, etc. Funds) |
The Corporation may borrow necessary funds and goods (including borrowing funds and import of goods from overseas countries), following a resolution of the board of directors.
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 15 (Reversion of Passenger Service Charges of Domestic Lines) |
The passenger service charges of domestic lines, among other service charges collected by the Corporation under Article 32 (1) of the Airport Facilities Act shall be attributed to the Corporation's revenue. <Amended by Act No. 14113, Mar. 29, 2016> [This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 16 (Guidance and Supervision) |
The Minister of Land, Infrastructure and Transport may guide and supervise the Corporation with respect to the following matters and affairs related thereto, to enhance public service and public interests in the operation of airports: <Amended by Act No. 11690, Mar. 23, 2013>
| 1. | Matters concerning the security of airport facilities and aviation safety; |
| 2. | Matters concerning convenience and safety of the users of airport facilities. |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 17 (Report to National Assembly) |
The Corporation shall make a report to the National Assembly on matters concerning its major project plans and its management and operation at least once a year.
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 18 Deleted. <by Act No. 9548, Mar. 25, 2009> |
| Article 19 (Relation to Other Acts) |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 20 (Penalty Provisions) |
Any person who violates Article 8 shall be punished by imprisonment with labor for not more than two years or by a fine not exceeding twenty million won. <Amended by Act No. 15124, Nov. 28, 2017> [This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
| Article 21 (Administrative Fines) |
| (1) | Any person who violates Article 5-2 shall be punished by an administrative fine not exceeding five million won. |
| (2) | Administrative fines under paragraph (1) shall be imposed and collected by the Minister of Land, Infrastructure and Transport. <Amended by Act No. 11690, Mar. 23, 2013> |
[This Article Wholly Amended by Act No. 9548, Mar. 25, 2009]
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on March 2, 2002: Provided, That Article 4 and Articles 3 and 4 of the Addenda shall enter into force on the date of its promulgation, and Article 15 shall enter into force on January 1, 2004. Article 2 (Abrogation of Other Acts)
Article 3 (Incorporation Preparation of Corporation)
| (1) | The Corporation Incorporation Committee (hereinafter referred to as the "Incorporation Committee") shall be set up with the mandate of dealing with administrative affairs involving the incorporation of the Corporation. |
| (2) | The Incorporation Committee shall consist of not more than 7 members commissioned by the Minister of Construction and Transportation, and the chairman of the Incorporation Committee shall be the Vice Minister of Construction and Transportation. |
| (3) | The members of the Incorporation Committee commissioned by the Minister of Construction and Transportation under paragraph (2) shall be deemed promoters provided for in Article 288 of the Commercial Act. |
| (4) | The Incorporation Committee shall prepare the articles of incorporation of the Corporation and its members shall subscribe or sign their names thereon. |
| (5) | The Incorporation Committee shall complete the registration of incorporation of the Corporation by March 2, 2002. |
Article 4 (Incorporation Expenses)
Expenses required for incorporating the Corporation shall be borne by the Corporation.
Article 5 (Succession of Properties, Rights and Duties)
| (1) | Properties, rights and duties held by the Korea Airport Authority established pursuant to the Korea Airport Authority Act (hereinafter referred to as the "Korea Airport Authority") at the time this Act enters into force shall be succeeded by the Corporation in the block when the Corporation is established. |
| (2) | The name of the Korea Airport Authority that is put on the register book and other public register with regard to its properties, rights and duties that are succeeded in the block by the Corporation under paragraph (1) shall be deemed the name of the Corporation when the Corporation is established. |
| (3) | The value of the properties that are succeeded by the Corporation under paragraph (1) shall be the book value thereof at the time of succession. |
| (4) | Any act performed by the Korea Airport Authority in connection with the management and operation of airports, or any other act performed against the Korea Airport Authority prior to the establishment of the Corporation shall be deemed an act performed by the Corporation in connection with the management and operation of airports, or an act performed against the Corporation. |
Article 6 (Transitional Measures concerning Executive Officers and Employees of Korea Airport Authority)
| (1) | The chief director, directors (including the vice chief director; hereafter the same shall apply in this paragraph), and auditors of the Korea Airport Authority at the time this Act enters into force shall be deemed the chief director, directors and auditors of the Corporation, and their terms of office shall expire at the time when the new chief director, directors, and auditors are selected and appointed at a general meeting of shareholders. |
| (2) | The employees of the Korea Airport Authority as at the time this Act enters into force shall be deemed the employees of the Corporation. |
Article 7 (Transitional Measures concerning Penalty Provisions)
Article 8 (Relation with Other Statutes)
In any case where the Korea Airport Authority Act or the Korea Airport Authority is cited in other statutes at the time this Act enters into force, if there are the provisions corresponding to it in this Act, this Act or the corresponding provisions of this Act shall be considered to have been cited. Article 9 Omitted.
ADDENDUM <Act No. 7514, May 26, 2005>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 8255, Jan. 19, 2007>
This Act shall enter into force three months after the date of its promulgation.
ADDENDA <Act No. 8852, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 7 Omitted.
ADDENDA <Act No. 9067, Mar. 28, 2008>
| (1) | (Enforcement Date) This Act shall enter into force on the date of its promulgation: Provided, That the amended provisions of Article 21 (1) shall enter into force three months after the date of its promulgation. |
| (2) | (Transitional Measures concerning Administrative Fines) The imposition of an administrative fine with regard to an act committed before this Act enters into force shall be governed by the former provisions. |
ADDENDA <Act No. 9401, Jan. 30, 2009>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation. (Proviso Omitted.)
Articles 2 through 11 Omitted.
ADDENDUM <Act No. 9548, Mar. 25, 2009>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 9780, Jun. 9, 2009>
Article 1 (Enforcement Date)
This Act shall enter into force three months after the date of its promulgation. (Proviso Omitted.)
Articles 2 through 12 Omitted.
ADDENDA <Act No. 10161, Mar. 22, 2010>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation.
Articles 2 through 4 Omitted.
ADDENDA <Act No. 11690, Mar. 23, 2013>
Article 1 (Enforcement Date)
| (1) | This Act shall enter into force on the date of its promulgation. |
Articles 2 through 7 Omitted.
ADDENDUM <Act No. 12474, Mar. 18, 2014>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 12650, May 21, 2014>
This Act shall enter into force six months after the date of its promulgation.
ADDENDA <Act No. 14113, Mar. 29, 2016>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promulgation.
Articles 2 through 18 Omitted.
ADDENDA <Act No. 14115, Mar. 29, 2016>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promulgation.
Articles 2 through 26 Omitted.
ADDENDA <Act No. 14116, Mar. 29, 2016>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promulgation. (Proviso Omitted.)
Articles 2 through 55 Omitted.
ADDENDUM <Act No. 15124, Nov. 28, 2017>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 15406, Feb. 21, 2018>
This Act shall enter into force on the date of its promulgation.