TOURISM PROMOTION AND DEVELOPMENT FUND ACT
Act No. 2402, Dec. 29, 1972
Amended by Act No. 5159, Aug. 14, 1996
Act No. 5277, Jan. 13, 1997
Act No. 5565, Sep. 17, 1998
Act No. 5654, Jan. 21, 1999
Act No. 6836, Dec. 30, 2002
Act No. 7132, Jan. 29, 2004
Act No. 7494, May 18, 2005
Act No. 8050, Oct. 4, 2006
Act No. 8343, Apr. 11, 2007
Act No. 8742, Dec. 21, 2007
Act No. 8852, Feb. 29, 2008
Act No. 9469, Mar. 5, 2009
Act No. 10555, Apr. 5, 2011
Act No. 15057, Nov. 28, 2017
Act No. 16050, Dec. 24, 2018
Act No. 18008, Apr. 13, 2021
The purpose of this Act is to establish a tourism promotion and development fund to efficiently develop the tourism industry and contribute to the increase of foreign exchange earnings through tourism.
[This Article Wholly Amended on Dec. 21, 2007]
| Article 2 (Establishment and Financial Resources of Fund) |
| (1) | The Government shall establish the Tourism Promotion and Development Fund (hereinafter referred to as the "Fund") in order to secure funds necessary for achieving the purpose of this Act. |
| (2) | The Fund shall be created with the financial resources in each of the following subparagraphs: <Amended on Nov. 28, 2017> |
| 1. | Government contributions; |
| 3. | International departure fee under paragraph (3); |
| 5. | Profits generated by the operation of the Fund and other financial resources. |
| (3) | Any person determined by Presidential Decree, who leaves Korea through a Korean airport or harbor shall contribute to the Fund an amount of money determined by Presidential Decree within the scope of 10,000 won. |
| (4) | If any person who is imposed with payments referred to in paragraph (3) has an objection to the imposed payment, he/she may raise an objection to the Minister of Culture, Sports and Tourism within 60 days after the imposition of payments. <Newly Inserted on Apr. 5, 2011> |
| (5) | When the Minister of Culture, Sports and Tourism receives an objection in accordance with paragraph (4), he/she shall examine the said objection within 15 days after receiving it, and inform the person who raised the objection of its results in writing. <Newly Inserted on Apr. 5, 2011> |
| (6) | Matters necessary for the procedures for the imposition and collection of the payments referred to in paragraph (3), etc. shall be determined by Presidential Decree. <Amended on Apr. 5, 2011> |
[This Article Wholly Amended on Dec. 21, 2007]
| Article 3 (Management of Fund) |
| (1) | The Fund shall be managed by the Minister of Culture, Sports and Tourism. <Amended on Feb. 29, 2008> |
| (2) | For the efficient execution, evaluation and settlement of the fund, management of surplus money, etc., the Minister of Culture, Sports and Tourism shall hire not more than ten civil experts. In this case, the expenses therefor may be spent from the Fund. <Amended on Feb. 29, 2008> |
| (3) | Matters necessary for the employment and operation of the civil experts referred to in paragraph (2) shall be determined by Presidential Decree. |
[This Article Wholly Amended on Dec. 21, 2007]
| Article 4 (Fiscal Year of Fund) |
The fiscal year of the Fund shall comply with that of the Government.
| Article 5 (Usage of Fund) |
| (1) | The Fund may be lent for uses falling under any of the following subparagraphs: |
| 1. | Construction or repairing of various kinds of tourism facilities, including hotels; |
| 2. | Securing or repairing of transport means for tourism; |
| 3. | Construction or repairing of infrastructure for the development of the tourism industry; |
| 4. | Construction or repairing of tourists convenience facilities in tourist attractions, tourism complexes and special tourist zones. |
| (2) | The Minister of Culture, Sports and Tourism may subsidize corporations conducting investigations and research on tourism policies for the creation of basic property, investigation and research businesses and other operational expenses from the Fund. <Amended on Feb. 29, 2008> |
| (3) | The Fund may be lent or subsidized for businesses falling under any of the following subparagraphs: <Amended on Mar. 5, 2009> |
| 1. | Programs for the education of overseas travelers for a sound sightseeing and programs for the provision of tourist information; |
| 2. | Programs for the improvement of domestic and overseas tourist information systems and programs for public relations on tourism; |
| 3. | Education and training programs for workers and related persons in the tourism industry; |
| 4. | National tourism promotion programs and foreign tourists attraction supporting programs; |
| 5. | Developing and supporting tour products; |
| 6. | Installation of public convenience facilities in tourist attractions, tourism complexes and special tourism zones; |
| 7. | Attracting and holding international conferences; |
| 8. | National tourism welfare program for neglected classes, such as the disabled; |
| 9. | Programs for developing and supporting traditional tourism resources; |
| 10. | Others determined by Presidential Decree, which are necessary for the development of the tourism industry. |
| (4) | The Fund may be invested in any of the following businesses or investment associations when necessary for the attraction of private capital: |
| 3. | Investment associations the objective of which is to invest in the tourism industry; |
| 4. | Others determined by Presidential Decree, which are necessary for the development of the tourism industry. |
| (5) | The Fund may make contributions to the following institutions within budgetary limits in order to facilitate a loan by extending credit guarantee: <Newly Inserted on Dec. 24, 2018> |
[This Article Wholly Amended on Dec. 21, 2007]
| Article 6 (Establishment of Fund Operation Committee) |
| (1) | The Fund Operation Committee (hereinafter referred to as the "Committee") shall be established under the control of the Minister of Culture, Sports and Tourism to deliberate on comprehensive matters on the operation of the Fund. <Amended on Feb. 29, 2008> |
| (2) | Matters necessary for the organization and operation of the Committee shall be determined by Presidential Decree. |
[This Article Wholly Amended on Dec. 21, 2007]
| Article 7 (Establishment of Fund Operation Plan Proposal) |
| (1) | The Minister of Culture, Sports and Tourism shall establish a fund operation plan proposal in accordance with the National Finance Act each year. The same shall apply where the fund operation plan is altered. <Amended on Feb. 29, 2008> |
| (2) | The establishment of the fund operation plan proposal or any change to the fund operation plan which is referred to in paragraph (1) shall undergo the deliberation of the Committee. |
[This Article Wholly Amended on Dec. 21, 2007]
| Article 8 (Revenue and Expenditure of Fund) |
| (1) | The revenue of the Fund shall be the financial resources referred to in each subparagraph of Article 2 (2). |
| (2) | The expenditure of the Fund shall be the expenditure for the uses of the Fund referred to in Article 5 and expenses incidental to the operation of the fund. |
[This Article Wholly Amended on Dec. 21, 2007]
| Article 9 (Accounting Institution of Fund) |
The Minister of Culture, Sports and Tourism shall appoint fund revenue collecting officials, fund financier, fund expenditure officials and accounting officials from among the public officials under his/her control to have them handle affairs concerning the revenue and expenditure of the Fund. <Amended on Feb. 29, 2008>
[This Article Wholly Amended on Dec. 21, 2007]
| Article 10 (Establishment of Account of Fund) |
The Minister of Culture, Sports and Tourism shall have a fund expenditure official open an account of the Tourism Promotion and Development Fund at the Bank of Korea. <Amended on Feb. 29, 2008>
[This Article Wholly Amended on Dec. 21, 2007]
| Article 11 (Prohibition of Use for Other Purpose) |
| (1) | No person that is given a loan or a subsidy from the Fund shall use the loan or subsidy for purposes other than the purposes fixed at the time when the loan or subsidy is given. |
| (2) | When a loan or a subsidy from the Fund is used for a purpose other than the original purpose of the loan or subsidy, the loan or subsidy shall be cancelled and withdrawn. |
| (3) | If a person who requests or is given a loan from the Fund falls under any of the following subparagraphs, the Minister of Culture, Sports and Tourism shall reject the request, or cancel loans and withdraw all or part of the loan disbursed: <Newly Inserted on Apr. 5, 2011> |
| 1. | In the case where the person files a loan application or is given a loan in a false or otherwise unjust manner; |
| 2. | In the case where the person is given a loan by mistake; |
| 3. | In the case where the person loses his/her qualification for a loan from the Fund due to the cancellation or invalidation of registration, permission, designation or approval for his/her project plan in accordance with the Tourism Promotion Act; |
| 4. | In the case where the person does not fulfill his/her terms and conditions of the loan; |
| 5. | In the cases as prescribed by Presidential Decree. |
| (4) | A person falling under any of the following subparagraphs may not be given a loan or a subsidy from the Fund within five years after he/she is given a loan or a subsidy from the Fund: <Newly Inserted on Apr. 5, 2011; Apr. 13, 2021> |
| 1. | Any person who uses a loan or a subsidy from the Fund for purposes other than the purposes fixed at the time when the loan or subsidy is given, as prescribed by paragraph (2); |
| 2. | Any person who is given a loan or a subsidy from the Fund in a false or otherwise unjust manner. |
[This Article Wholly Amended on Dec. 21, 2007]
[Title Amended on Apr. 5, 2011]
| Article 12 (Entrustment of Duty to Impose and Collect Charge) |
| (1) | The Minister of Culture, Sports and Tourism may entrust the duty to impose and collect the charge referred to in Article 2 (3) to a person designated in consultation with the head of a relevant central administrative agency as prescribed by Presidential Decree. <Amended on Feb. 29, 2008> |
| (2) | The Minister of Culture, Sports and Tourism may, when he/she entrusts the duty to impose and collect the charge pursuant to paragraph (1), subsidize the person to whom the duty to impose and collect the charge is entrusted from the Fund. <Amended on Feb. 29, 2008> |
[This Article Wholly Amended on Dec. 21, 2007]
| Article 13 (Legal Fiction of Public Officials in Application of Penal Provisions) |
[This Article Wholly Amended on Dec. 21, 2007]
ADDENDUM <Act No. 2402, Dec. 29, 1972>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 5159, Aug. 14, 1996>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 5277, Jan. 13, 1997>
This Act shall enter into force on July 1, 1997.
ADDENDA <Act No. 5565, Sep. 17, 1998>
| (1) | (Enforcement Date) This Act shall enter into force two months after the date of its promulgation. |
| (2) | (Temporary Special Cases of Use of Fund) In order to subsidize the performance of job creation programs for workers engaging in tourism-related industries, the Minister of Culture and Tourism may contribute to the Workfare Promotion Fund under Article 8 of the Act on the Promotion of Welfare for Small and Medium Enterprise Workers an amount determined in consultation with the Minister of Labor within the scope equivalent to 30/100 of the charge collected pursuant to Article 2 (3) by the date on which two years have passed since this Act enters into force as prescribed by Presidential Decree. |
ADDENDA <Act No. 5654, Jan. 21, 1999>
Article 1 (Enforcement Date)
This Act shall enter into force two months after the date of its promulgation.
Articles 2 through 11 Omitted.
ADDENDA <Act No. 6836, Dec. 30, 2002>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2003.
Articles 2 through 7 Omitted.
ADDENDUM <Act No. 7132, Jan. 29, 2004>
This Act shall enter into force on July 1, 2004.
ADDENDUM <Act No. 7494, May 18, 2005>
This Act shall enter into force three months after the date of its promulgation.
ADDENDA <Act No. 8050, Oct. 4, 2006>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2007. (Proviso Omitted.)
Articles 2 through 12 Omitted.
ADDENDA <Act No. 8343, Apr. 11, 2007>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 12 Omitted.
ADDENDUM <Act No. 8742, Dec. 21, 2007>
This Act shall enter into force on 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.
ADDENDUM <Act No. 9469, Mar. 5, 2009>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 10555, Apr. 5, 2011>
Article 1 (Enforcement Date)
This Act shall enter into force three months after the date of its promulgation: Provided, That the amended provisions of Article 2 (4) and paragraph (5) shall enter into force on the date of its promulgation. Article 2 (Applicability)
| (1) | The amended provision of Article 11 (3) shall apply to cases where a loan from the Fund is requested or given initially on and after this Act enters into force. |
| (2) | The amended provision of Article 11 (4) shall apply to a person who is given a loan or a subsidy from the Fund initially on and after this Act shall enter into force. |
ADDENDA <Act No. 15057, Nov. 28, 2017>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Article 2 (Applicability to Financial Resources of Fund)
The amended Article 2 (2) 4 shall apply to license fees of a bonded store incurred for turnover generated after February 15, 2017.
ADDENDUM <Act No. 16050, Dec. 24, 2018>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 18008, Apr. 13, 2021>
Article 1 (Enforcement Date)
This Act shall enter into force three months after the date of its promulgation.
Article 2 (Applicability to Restrictions on Support of Fund)
The amended provisions of Article 11 (4) shall begin to apply from the first violation committed after this Act enters into force.