The purpose of this Act is for the development of the Young Astronauts Korea, which has been established to provide Korean adolescents an aspiration to lead in a science and technology-oriented society, and to cultivate creative talents to lead the scientifically-advanced Korea, thereby encouraging motivation for the development of science and technology and contributing to the national development.
| Article 2 (Cooperation and Assistance)
The State and local governments may provide convenience to the Young Astronauts Korea (hereinafter referred to as “Young Astronauts”) as necessary for its organization and activities, and may give cooperation and assistance.
| Article 3 (Subsidization, etc.)
|(1)|| The State and local governments may provide subsidies to the Young Astronauts to cover operating costs, facility costs, and expenses for domestic and international events as necessary for its organization and activities.|
|(2)|| A private individual, body corporate, or organization may donate money or other property to provide support for the facilities and operation of the Young Astronauts.|
| Article 4 (Tax Deduction or Exemption, etc.)
| Article 5 (Profit-Making Activities of Supporting Organizations)
Any person or organization supporting the Young Astronauts (hereinafter referred to as “Young Astronauts supporting organization”) may engage in profit-making business activities necessary to support the Young Astronauts, with the approval of the Minister of Science and ICT. <Amended by Act No. 14839, Jul. 26, 2017>
| Article 6 (Order to Suspend Profit-Making Activities)
Any supporting organization of the Young Astronauts engaging in profit-making business appropriates or is likely to appropriate any profit generated from such activities for a purpose other than the purpose of supporting the Young Astronauts, the Minister of Science and ICT may order suspension of such activities for a specified period not exceeding six months and take other necessary measures. <Amended by Act No. 14839, Jul. 26, 2017>
| Article 7 (Submission of Budget Bill, etc.)
The Young Astronauts shall, prior to the commencement of a new fiscal year, prepare a budget bill and a business plan for the following year and submit them to the Minister of Science and ICT. The same shall also apply when modifying the budget bill and the business plan. <Amended by Act No. 14839, Jul. 26, 2017>
| Article 8 (Submission of Statements of Accounts, etc.)
The Young Astronauts shall prepare statements of revenue and expenditure and a performance report for the relevant fiscal year and submit them to the Minister of Science and ICT by no later than the end of March of the following year. <Amended by Act No. 14839, Jul. 26, 2017>
| Article 9 (Inspection of Duties, etc.)
The Minister of Science and ICT may, if necessary, require the Young Astronauts to submit data or reports on its duties or direct public officials under his/her authority to inspect such duties. <Amended by Act No. 14839, Jul. 26, 2017>
| Article 10 (Prohibition on Use of Same Name)
No person other than the Young Astronauts prescribed in this Act shall use the name “Young Astronauts Korea.”
| Article 11 (Administrative Fines)
|(1)|| Any person who violates Article 10 shall be liable for an administrative fine not exceeding two million won.|
|(2)|| The administrative fine referred to in paragraph (1) shall be imposed and collected by the Minister of Science and ICT. <Amended by Act No. 14839, Jul. 26, 2017>|
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Article 2 (Applicability Concerning Submission of Budget Bill, etc.)
Articles 7 and 8 shall apply beginning with the budget bill and business plan for the fiscal year which comes first after this Act enters into force.
Article 3 (Transitional Measure)
The Young Astronauts Korea, which is an incorporated association as at the time this Act enters into force, shall be construed as the Young Astronauts stipulated in this Act.
ADDENDA <Act No. 14839, Jul. 26, 2017>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation: Provided, That the amended provisions of the Acts, which were promulgated before this Act enters into force, but the date on which they are to enter into force, has not arrived yet, among the Acts amended pursuant to Article 5 of the Addenda, shall enter into force on the enforcement dates of such Acts, respectively.
Articles 2 through 6 Omitted.