Law Viewer

Back Home

ENFORCEMENT DECREE OF THE ACT ON THE AGGRAVATED PUNISHMENT OF SPECIFIC ECONOMIC CRIMES

Presidential Decree No. 11381, Mar. 12, 1984

Amended by Presidential Decree No. 12106, Mar. 30, 1987

Presidential Decree No. 12464, jun. 17, 1988

Presidential Decree No. 12600, Dec. 31, 1988

Presidential Decree No. 13328, Mar. 18, 1991

Presidential Decree No. 13870, Mar. 6, 1993

Presidential Decree No. 14438, Dec. 23, 1994

Presidential Decree No. 14915, Feb. 15, 1996

Presidential Decree No. 15761, Apr. 1, 1998

Presidential Decree No. 20674, Feb. 29, 2008

Presidential Decree No. 20947, Jul. 29, 2008

Presidential Decree No. 21615, Jul. 7, 2009

Presidential Decree No. 21744, Sep. 21, 2009

Presidential Decree No. 23535, Jan. 25, 2012

Presidential Decree No. 25435, jun. 30, 2014

Presidential Decree No. 25532, Aug. 6, 2014

Presidential Decree No. 29181, Sep. 18, 2018

Presidential Decree No. 29677, Apr. 2, 2019

Presidential Decree No. 29744, May 7, 2019

 Article 1 (Purpose)
The purpose of this Act is to provide matters mandated by the Act on the Aggravated Punishment, etc. of Specific Economic Crimes and necessary matters for its enforcement: <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 2 (Range of Loans)
"Matters prescribed by Presidential Decree" in subparagraph 3 of Article 2 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (hereinafter referred to as the "Act") means any of the following: <Amended by Presidential Decree No. 21615, Jul. 7, 2009; Presidential Decree No. 29744, May 7, 2019>
1. Sub-lease of foreign capital;
2. Purchase of promissory notes;
3. Any act of a financial company, etc., in relation to business affairs to lend funds to persons in need of funds or guarantee their debts, regardless of pretexts, such as investment and finance in equipment or working capital, loans, payment, guarantee of payment, cash financing, and the acquisition of receivables.
 Article 3 (Persons Engaged in Supervisory Duties in Supervisory Organizations)
"Any person who is engaged in supervisory duties at the supervisory organization" in Article 12 (2) of the Act means executive officers or employees in any of the following supervisory organizations, who are engaged in duties of audit or inspection (including duties of temporary audit or inspection) of the financial companies, etc. under the jurisdiction of the relevant organizations, and high-ranking officers who are in charge of such duties, and the heads of the relevant supervisory organizations: <Amended by Presidential Decree No. 15761, Apr. 1, 1998; Presidential Decree No. 29744, May 7, 2019>
1. The Financial Supervisory Service under the Act on the Establishment of Financial Services Commission;
2. The Korea Federation of Savings Banks under the Mutual Savings Banks Act;
3. The National Agricultural Cooperative Federation under the Agricultural Cooperatives Act;
4. The National Federation of Fisheries Cooperatives under the Fisheries Cooperatives Act;
5. The National Credit Union Federation of Korea under the Credit Unions Act;
6. The Korean Federation of Community Credit Cooperatives under the Community Credit Cooperatives Act.
 Articles 4 through 8 Deleted. <by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 9 (Notification of Investigating Agency)
(1) Where a prosecutor has filed a criminal suit against a person who has committed a crime under Article 3 of the Act, Article 4 (2) of the Act (including a criminal who had attempted but failed to complete a crime), Article 5 (4) of the Act, or Article 8 of the Act, the chief of the relevant district prosecutor’s office or the chief of the relevant district prosecutor’s branch office shall report the fact of such criminal suit filed to the Minister of Justice without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009; Presidential Decree No. 29744, May 7, 2019>
(2) The Minister of Justice may request the submission of materials from the head of a relevant institution or relevant enterprise, where necessary for the control of an economic criminal. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 10 (Range of Institutions and Enterprises Subject to Employment Restrictions)
(1) Institutions in which the State or a local government referred to in the main sentence of Article 14 (1) of the Act has fully or partially invested capital, and institutions which receive contributions or subsidies from such capitals shall be institutions falling under attached Tables 1 through 3. <Amended by Presidential Decree No. 29744, May 7, 2019>
(2) An enterprise with a close relation to a criminal act for which a person has been convicted of a crime under the main sentence of Article 14 (1) of the Act shall be any of the following enterprises: <Amended by Presidential Decree No. 29744, May 7, 2019>
1. An enterprise, in which an accomplice (including a person who has committed a crime set forth in Article 6 of the Act, corresponding to a person convicted of a crime under Article 5 (4) of the Act; hereafter in this paragraph, the same shall apply) of a person convicted of a crime pursuant to Article 3 of the Act, Article 4 (2) of the Act (including an attempted crime), Article 5 (4) of the Act, or Article 8 of the Act, or the accomplice’s lineal ascendant or descendent, sibling, or spouse, has invested money, and for which the sum of such invested money accounts for at least five percent of the total amount of stocks issued or invested;
2. An enterprise, in which an accomplice of a person convicted of a crime pursuant to Article 3 of the Act, Article 4 (2) of the Act (including an attempted crime), Article 5 (4) of the Act, or Article 8 of the Act was employed as at the time of committing the crime, or is currently employed, as an executive officer or a supervisory staff in the position not lower than the manager of a department;
3. An enterprise, which has gained profits or sustained losses through a criminal act for which a person has been convicted of a crime pursuant to Article 3 of the Act or Article 4 (2) of the Act (including an attempted crime), or Article 5 (4) of the Act or Article 8 of the Act;
4. An enterprise, in which a third person who has gained profits through a criminal act for which a person has been convicted of a crime pursuant to Article 3 of the Act, Article 5 (4) of the Act, and Article 8 of the Act, or the third person’s lineal ascendant or descendant, or his brother or sister or spouse has invested, and for which the sum of such invested money accounts for at least the base amount provided for in subparagraph 1;
5. An enterprise in which a third person prescribed in subparagraph 4 was employed as at the time of committing the crime, or is currently employed, as an executive officer or a supervisory staff in the position not lower than the manager of a department;
6. An enterprise, in which an enterprise falling under any of subparagraphs 1 through 5 has invested, and for which the sum of such invested money accounts for at least the base amount provided for in subparagraph 1.
 Article 11 (Scope of Government-Licensed Business to which Permission is Prohibited)
"Government-licensed business prescribed by Presidential Decree" in 14 (2) of the Act refers to an entity which should obtain permission, authorization, license, registration, designation, approval, and patent (hereinafter referred to as "permission, etc.") from an administrative agency in order to engage in a particular undertaking, business, or activity, and for which the relevant administrative agency shall be the head of a central administrative agency, or a Special Metropolitan City Mayor, Metropolitan City Mayor, Special Self-Governing City Mayor, or Do Governor (including where subordinate agencies or other agencies have been delegated or entrusted with authority of such permission etc. pursuant to Acts and subordinate statutes). <Amended by Presidential Decree No. 29744, May 7, 2019>
 Article 12 (Notification of Employment Restrictions)
The Minister of Justice shall always be aware of the results of each trial on a person who has committed a crime under Article 3 of the Act, Article 4 (2) of the Act (including an attempted crime), Article 5 (4) of the Act, or Article 8 of the Act, and when such person has been convicted of such crime, the Minister of Justice shall notify the convicted person of the restrictions on employment, the prohibition of permission, etc., and the range of institutions and enterprises subject to such restrictions and prohibition under Article 14 (1) and (2) without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009; Presidential Decree No. 29744, May 7, 2019>
 Article 13 (Application for Employment Approval)
(1) A person who desires to obtain employment approval from the Minister of Justice pursuant to the proviso of Article 14 (1) of the Act shall submit to the Minister of Justice a written application for employment approval at least one month before the date he or she desires to get employed. <Amended by Presidential Decree No. 21615, Jul. 7, 2009; Presidential Decree No. 29744, May 7, 2019>
(2) Where the Minister of Justice has decided as to whether he or she may approve the employment under the proviso of Article 14 (1) of the Act, he or she shall notify the applicant of the details of such decision without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009>
 Article 14 (Application for Approval concerning Permission to Operate Government-Licensed Business)
(1) A person who desires to obtain approval from the Minister of Justice under the proviso of Article 14 (2) of the Act in order to operate the government-licensed business under Article 11, shall submit a written application for the approval to the head of the competent administrative agency concerning permission, etc. to operate the relevant government-licensed business. <Amended by Presidential Decree No. 21615, Jul. 7, 2009; Presidential Decree No. 29744, May 7, 2019>
(2) A written application for approval under paragraph (1) shall be accompanied by a copy of an written application concerning permission, etc. to operate a government-licensed business. <Amended by Presidential Decree No. 29744, May 7, 2019>
(3) Where the head of a competent administrative agency has received a written application for approval under paragraph (1), he or she shall ascertain that a copy of a written application for permission, etc. to operate a government-licensed business is not different from the original copy, and shall send the application for approval to the Minister of Justice without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009; Presidential Decree No. 29744, May 7, 2019>
(4) When the Minister of Justice has decided whether he or she approves the government-licensed business after receiving an application for approval under paragraph (3), he or she shall notify the applicant for approval and the head of the competent administrative agency of the details of the decision without delay. <Amended by Presidential Decree No. 21615, Jul. 7, 2009; Presidential Decree No. 29744, May 7, 2019>
 Article 15 (Management of Sensitive Information and Personally Identifiable Information)
(1) The Minister of Justice may manage sensitive information pursuant to Article 23 of the Personal Information Protection Act or data containing resident registration numbers, passport numbers, driver’s license numbers, alien registration numbers pursuant to Article 19 of the Enforcement Decree of the same Act, or any other personal information, if it is necessary for conducting following affairs:
1. Affairs concerning employment approval under the proviso of Article 14 (1) of the Act or approval of permission, etc. under the proviso of paragraph (2) of the same Article;
2. Affairs concerning the request for dismissal or revocation of permission, etc., under Article 14 (4) of the Act;
3. Affairs necessary for conducting the affairs prescribed in paragraphs (1) or (2).
(2) The head of administrative agency in charge of permission, etc. may manage the data containing personal information under paragraph (1), if it is necessary for conducting the affairs concerning the application for approval of permission, etc. pursuant to Article 14 (2) of the Act and Article 14 of the Decree.
[This Article Newly Inserted by Presidential Decree No. 25532, Aug. 6, 2014]
ADDENDUM
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 12106 Mar. 30, 1987>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 12464, Jun. 17, 1988>
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. 12600, Dec. 31, 1988>
Article 1 (Enforcement Date)
This Decree shall enter into force on April 1, 1989.
Articles 2 through 4 Omitted.
ADDENDA <Presidential Decree No. 13328, Mar. 18, 1991>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 13870, Mar. 6, 1993>
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. 14438, Dec. 23, 1994>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 14915, Feb. 15, 1996>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Article 2 Omitted.
ADDENDA <Presidential Decree No. 15761, Apr. 1, 1998>
(1) (Enforcement Date) This Decree shall enter into force on the date of its promulgation.
(2) through (4) Omitted.
ADDENDA <Presidential Decree No. 20674, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 and 3 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.
ADDENDUM <Presidential Decree No. 21615, Jul. 7, 2009>
This Decree shall enter into force on August 9, 2009.
ADDENDA <Presidential Decree No. 21744, Sept. 21, 2009>
Article 1 (Enforcement Date)
This Decree shall enter into force on October 1, 2009.
Articles 2 through 5 Omitted.
ADDENDA <Presidential Decree No. 23535, Jan. 25, 2012>
Article 1 (Enforcement Date)
This Decree shall enter into force on Jan 26, 2012.
Articles 2 and 3 Omitted.
ADDENDA <Presidential Decree No. 25435, Jun. 30, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Presidential Decree No. 25532, Aug. 6, 2014>
This Decree shall enter into force on August 7, 2014.
ADDENDA <Presidential Decree No. 29181, Sep. 18, 2018>
Article 1 (Enforcement Date)
This Decree shall enter into force on September 21, 2018.
Articles 2 through 25 Omitted.
ADDENDA <Presidential Decree No. 29677, Apr. 2, 2019>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDA <Presidential Decree No. 29744, May 7, 2019>
Article 1 (Enforcement Date)
This Decree shall enter into force six months after the date of its promulgation.
Article 2 (Applicability to Range of Enterprises Subject to Employment Restrictions)
The amended provisions of Article 10 (2) 3 shall begin to apply from the first case where a person who has been convicted of a crime referred to in Article 3 of the Act, Article 4 (2) of the Act (including a criminal who had attempted but failed to complete the crime), Article 5 (4) of the Act, or Article (8) of the Act, on or after this Decree enters into force.