STORM AND FLOOD INSURANCE ACT
Act No. 11497, Oct. 22, 2012
Act No. 7859, Mar. 3, 2006
Amended by Act No. 8852, Feb. 29, 2008
Act No. 8863, Feb. 29, 2008
Act No. 8998, Mar. 28, 2008
Act No. 10224, Mar. 31, 2010
Act No. 11497, Oct. 22, 2012
CHAPTER I GENERAL PROVISIONS
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| Article 1 (Purpose) |
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The purpose of this Act is to contribute to the stabilization of citizens' livelihood by providing for matters necessary for storm and flood insurance with which damage and losses caused to property by storms and floods can be indemnified for promptly and fairly.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 2 (Definitions) |
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The terms used in this Act shall be defined as follows: <Amended by Act No. 11497, Oct. 22, 2012>
| 2. | The term "storm and flood insurance" means insurance that indemnifies the insured for damage and losses caused to his or her property by storms and floods; |
| 3. | The term "amount of insurance coverage " means an amount of money agreed between an insurance policy holder and an insurer as the maximum amount up to which an insurance policy may cover damage and losses on the insured's property; |
| 4. | The term "premium" means an amount of money that an insurance policy holder shall pay to an insurer in accordance with an agreement between the insurance policy holder and the insurer; |
| 5. | The term "insurance proceeds" means an amount of money that an insurer pays to the insured in accordance with the agreement between the insurance policy holder and the insurer when the insured sustains damage to his or her property. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 3 (Jurisdiction over Insurance Program) |
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The storm and flood insurance program under this Act shall be under the jurisdiction of the Administrator of the National Emergency Management Agency.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 4 (Subject Matters of Insurance) |
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Subject matters that can be covered by a storm and flood insurance policy (hereinafter referred to as "subject matter of insurance") shall be the following structures and chattels ancillary to or contained in such structures:
| 2. | Other structures prescribed by Presidential Decree, taking into consideration probability of damage, the utility of insurance, and other relevant factors comprehensively. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 5 (Insured) |
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The insured of a storm and flood insurance policy shall be the owner of a subject matter of insurance under Article 4. [This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 6 (Insurers) |
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| (1) | Persons who may engage in the storm and flood insurance program are as follows: |
| 2. | Other institutions and organizations authorized to engage in insurance services or mutual aid services in relation to storms and floods pursuant to any other Act. |
| (2) | When an insurer under paragraph (1) intends to engage in the storm and flood insurance program, he or she shall submit the following documents to the Administrator of the National Emergency Management Agency and shall execute an agreement on the storm and flood insurance program with the Administrator of the National Emergency Management Agency: |
| 1. | Business manual, insurance terms and conditions, and manual for the calculation of insurance premium and liability reserve (hereinafter referred to as "basic documents"); |
| 2. | Other documents prescribed by Presidential Decree, such as articles of incorporation, a certified transcript of corporate register, etc. |
| (3) | When the Administrator of the National Emergency Management Agency intends to execute an agreement pursuant to paragraph (2), he or she shall consult with the Financial Services Commission on the appropriateness of the basic documents. |
| (4) | Necessary matters concerning the agreement on the storm and flood insurance program provided for under paragraph (2) shall be prescribed by Ministerial Decree of Public Administration and Safety. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 7 (Financial Support from State and others) |
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| (1) | The State or a local government may grant subsidies, within budgetary limits, to insurance policy holders for a portion of the premiums that shall be borne by insurance policy holders: Provided, That no subsidy shall be granted if a subject matter of insurance is covered by the agricultural and fishery disaster insurance under the Agricultural and Fishery Disaster Insurance Act. <Amended by Act No. 10224, Mar. 31, 2010> |
| (2) | Matters necessary for the subsidization of premiums under the main body of paragraph (1) shall be prescribed by Presidential Decree. <Amended by Act No. 10224, Mar. 31, 2010> |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 8 (Committee for Deliberation on Storm and Flood Insurance) |
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| (1) | The Committee for Deliberation on Storm and Flood Insurance (hereinafter referred to as the "Deliberative Committee") shall be established under the jurisdiction of the Administrator of the National Emergency Management Agency for the purpose of deliberating on the following matters: |
| 1. | Matters concerning the selection of the subject matters of insurance; |
| 2. | Matters concerning the extent of storms and floods covered by storm and flood insurance; |
| 3. | Matters concerning financial support for storm and flood insurance program; |
| 4. | Matters concerning the method and procedure for damage assessment; |
| 5. | Other matters brought by the chairperson of the Deliberative Committee for deliberation. |
| (2) | The Deliberative Committee shall be comprised of not more than 15 members as prescribed by Presidential Decree, including one chairperson and one vice chairperson. |
| (3) | The Administrator of the National Emergency Management Agency shall serve as the chairperson, while the vice chairperson shall be elected by and from among committee members. |
| (4) | Matters necessary for the organization and operation of the Deliberative Committee shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
CHAPTER II OPERATION OF STORM AND FLOOD INSURANCE PROGRAM
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| Article 9 (Insurance Term) |
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The basic insurance term under the storm and flood insurance program shall be one year: Provided, That a different insurance term for the type of each subject matter of insurance may be set by Presidential Decree, taking into consideration the purposes of installation and the structure of each subject matter of insurance.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 10 (Separate Accounting for Insurance Program) |
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An insurer shall separate accounts for the storm and flood insurance program from other accounts and make profits and losses thereon clear.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 11 (Calculation of Premium Rates) |
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An insurer shall calculate storm and flood insurance premium rates on the basis of objective and reasonable statistical data in accordance with the following guidelines :
| 2. | The premium rate shall vary depending upon the frequency of incurrence of damage to each subject matter of insurance; |
| 3. | The premium rate shall vary depending upon the degree of risk for each region as indicated in the maps for the management of storm and flood insurance under Article 25 (1). |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 12 (Limit on Amount of Insurance Coverage) |
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The Administrator of the National Emergency Management Agency may set a limit to the amount of insurance coverage so that the insured can estimate the insurance proceeds to which he or she is entitled and the storm and flood insurance program can be operated properly.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 13 (Consent, etc. to Revision to Basic Documents) |
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| (1) | When an insurer intends to revise any basic document, it shall obtain consent thereto from the Administrator of the National Emergency Management Agency. |
| (2) | When the Administrator of the National Emergency Management Agency intends to give his or her consent pursuant to paragraph (1), he or she shall consult with the Financial Services Commission. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 14 (Solicitation of Insurance) |
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| (1) | A person who may solicit storm and flood insurance are as follows: |
| 2. | An executive or employee of an insurer under Article 6 (1) 2; |
| 3. | Other person prescribed by Presidential Decree, such as an executive or employee of a member cooperative of an insurer. |
| (2) | An insurer may sell storm and flood insurance in the form of a comprehensive insurance policy or similar in combination with other non-life insurance. In such cases, Article 10 shall be complied with as regards accounting. |
| (3) | Articles 95, 97, and 98 of the Insurance Business Act shall apply mutatis mutandis to guidelines for the preparation of informative materials regarding storm and flood insurance, which a person who engages in solicitation of storm and flood insurance needs for soliciting the insurance pursuant to paragraph (1), and prohibited activities, which a person who engages in solicitation of storm and flood insurance shall not conduct while soliciting insurance. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 15 (Cooperation in Actual Inspection on Subject Matters of Insurance Prior to Execution of Insurance Contract) |
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| (1) | If necessary for conducting an actual inspection on the size, location, structure, etc. of a subject matter of insurance before executing a storm and flood insurance contract, an insurer may request the cooperation of the head of the competent local government. |
| (2) | Upon receiving a request for cooperation under paragraph (1), the head of the competent local government shall give cooperation, unless extenuating circumstances exist. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 16 (Damage Assessment) |
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| (1) | An insurer may retain a certified damage evaluator under Article 186 of the Insurance Business Act or a person who has professional experience and knowledge regarding subject matters of insurance and who satisfies specific qualification requirements, as prescribed by Presidential Decree, to take charge of damage assessment. |
| (2) | A person who takes charge of damage assessment pursuant to paragraph (1) shall carry out damage assessment in good faith in accordance with guidelines for damage assessment determined and publicly notified by the Administrator of the National Emergency Management Agency. In such cases, the person shall not intentionally conceal a true fact or commit fraud in damage assessment. |
| (3) | When the Administrator of the National Emergency Management Agency intends to give public notice of guidelines for damage assessment under paragraph (2), he or she shall consult with the Financial Services Commission in advance. |
| (4) | The Administrator of the National Emergency Management Agency shall devise measures for securing and training certified damage evaluators under paragraph (1). |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 17 (Verification, etc. of Damage Assessment) |
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| (1) | An insurer may conduct sample surveys in order to verify damage assessment under Article 16 (1). |
| (2) | If it is necessary to make an adjustment due to a considerable discrepancy between the result of a sample survey under paragraph (1) and the result of a damage assessment, an insurer may conduct another damage assessment, subject to prior consultation with the Administrator of the National Emergency Management Agency. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 18 (Payment, etc. of Insurance Proceeds) |
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Guidelines for application for payment of insurance proceeds, payment of such proceeds, and other relevant matters shall be prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 19 (Accumulation of Liability Reserve, etc.) |
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| (1) | An insurer shall set aside a liability reserve and an emergency risk reserve separately at the end of each fiscal year. |
| (2) | Matters necessary for setting aside a liability reserve and an emergency risk reserve shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 20 (Establishment of Deficit Compensation Reserve) |
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| (1) | An insurer shall accumulate a deficit compensation reserve for the smooth stabilization of insurance finances and the smooth operation of the insurance program. |
| (2) | The deficit compensation reserve shall be established with earnings retained at the time of settlement of accounts of the insurance program, gains on operation of the deficit compensation reserve, borrowings, contributions from the Government and other Funds, and other revenue. In such cases, borrowing a loan for the purpose of establishing the deficit compensation reserve shall be subject to approval from the Administrator of the National Emergency Management Agency. |
| (3) | Matters necessary for the management and operation of the deficit compensation reserve shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 21 (Appropriation of Retained Earnings and Disposition of Deficits) |
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| (1) | An insurer shall accumulate retained earnings accrued at the time of settlement of accounts for the insurance program as the deficit compensation reserve. |
| (2) | An insurer shall appropriate the emergency risk reserve and the deficit compensation reserve for the deficit accrued, if any, at the time of settlement of accounts for the insurance program, and if the amount of such deficit exceeds the emergency risk reserve and the deficit compensation reserve which have been accumulated, a subsidy from the National Treasury may be granted to cover the difference. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 22 (Execution of Reinsurance Contract) |
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An insurer may execute a reinsurance contract with another insurer entitled to engage in reinsurance business pursuant to the Insurance Business Act and other relevant laws for the purpose of transferring part of its liability for the payment of insurance proceeds that it is required to pay otherwise if a disaster occurs. [This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
CHAPTER III ASSISTANCE IN STORM AND FLOOD INSURANCE PROGRAM
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| Article 23 (Promotion, etc. of Insurance Purchase) |
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The State or a local government may induce any of the following persons to purchase and maintain a storm and flood insurance policy during the period specified by Presidential Decree, subject to the person's consent, in order to promote the purchase of storm and flood insurance policies and raise awareness of autonomous disaster prevention:
| 1. | A person to whom a loan or subsidy prescribed by Presidential Decree is granted; |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 24 (Collection, Consolidation, and Management of Statistics Related to Storms and Floods) |
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| (1) | The Administrator of the National Emergency Management Agency shall establish and manage a computer network for the management of statistics with which necessary statistical data, such as the current status of subject matters of insurance, the amount of damage, and causes of damage, can be collected and consolidated, so as to prevent damage from storms and floods and to operate the storm and flood insurance program properly. |
| (2) | The head of each Si/Gun/Gu shall submit the following data to the Administrator of the National Emergency Management Agency by no later than March 31 each year, via the Special Metropolitan City Mayor or the competent Metropolitan City Mayor, Do Governor, or the Governor of a Special Self-Governing Province (hereinafter referred to as "Mayor/Do Governor"), so as to collect and consolidate the statistical data under paragraph (1): |
| 1. | The overall status of the subject matters of insurance during the previous year by type of structure, purpose of use, and regions; |
| 2. | The amount of damage to the subject matters of insurance during the previous year by type of structure, purpose of use, and region and cause of damage; |
| 3. | Data regarding premiums, insurance proceeds and other data that the Administrator of the National Emergency Management Agency deems necessary for establishing a budget for the following year. |
| (3) | An insurer may request the Administrator of the National Emergency Management Agency to furnish it with statistical data under paragraph (2) for calculating premium rates for storm and flood insurance and amount of insurance coverage. |
| (4) | Detailed procedures and the method of operation necessary for the collection, consolidation, and management of statistics under paragraphs (1) and (2) shall be determined by the Administrator of the National Emergency Management Agency. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 25 (Preparation, etc. of Maps for Management of Storm and Flood Insurance) |
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| (1) | The Administrator of the National Emergency Management Agency shall prepare maps indicating the degree of risk of storms and floods in each region (hereinafter referred to as the "maps for the management of storm and flood insurance"), taking into consideration the history of storms and floods that have occurred in the past and risk of probable occurrences of storms and floods in the future, and shall set up and manage a computer system for the integrated management of such maps so as to prevent damage from storms and floods and to operate the storm and flood insurance program properly. |
| (2) | Necessary matters concerning the method of preparation of maps for the management of storm and flood insurance, including the units and contents of such maps, shall be determined by the Administrator of the National Emergency Management Agency, subject to consultation with related agencies. |
| (3) | The Administrator of the National Emergency Management Agency shall comprehensively review once every five years the accuracy of the maps prepared for the management of storm and flood insurance pursuant to paragraph (1) and set the maps in good working conditions accordingly. |
| (4) | The Administrator of the National Emergency Management Agency may delegate a part of the work for the preparation of the maps for the management of storm and flood insurance to the head of a local government, as prescribed by Presidential Decree. |
| (5) | An insurer may request the Administrator of the National Emergency Management Agency to permit it to use the maps for the management of storm and flood insurance for the calculation of premium rates of storm and flood insurance and amounts of insurance coverage. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 25-2 (Vicarious Preparation, etc. of Maps for Management of Storm and Flood Insurance) |
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| (1) | The Administrator of the National Emergency Management Agency may authorize a person who has the technical capability of preparing maps for the management of storm and flood insurance to prepare maps for the management of storm and flood insurance vicariously. |
| (2) | A person who intends to carry out the work under paragraph (1) vicariously shall have technical human resources that meet standards prescribed by Presidential Decree. |
| (3) | Procedure for the vicarious preparation of maps for the management of storm and flood insurance and other necessary matters shall be prescribed by Ministerial Decree of Public Administration and Safety. |
[This Article Added by Act No. 8998, Mar. 28, 2008]
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| Article 25-3 (Vicarious Integration and Management of Maps for Management of Storm and Flood Insurance) |
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| (1) | The Administrator of the National Emergency Management Agency may authorize a specialized institution designated by the Administrator of the National Emergency Management Agency to vicariously carry out the work for the integration and management of maps for the management of storm and flood insurance, as prescribed by Presidential Decree. |
| (2) | A person who vicariously carries out the integration and management of maps for the management of storm and flood insurance may provide copies of all or some information contained in maps for the management of storm and flood insurance or data processed with such information in return for fees, subject to prior approval of the Administrator of the National Emergency Management Agency. |
| (3) | Procedure for the use of information of maps for the management of storm and flood insurance and matters for the collection of fees shall be prescribed by Ministerial Decree of Public Administration and Safety. |
[This Article Added by Act No. 8998, Mar. 28, 2008]
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| Article 26 (Scientific Survey, Research, etc.) |
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| (1) | The Administrator of the National Emergency Management Agency shall devise measures to promote scientific surveys and research on systems for the prevention of damage by storms and floods, and the storm and flood insurance system, the development of related technologies, and the training of professional human resources. |
| (2) | The State may provide assistance as may be necessary for the scientific surveys and research stipulated under paragraph (1). |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
CHAPTER IV SUPPLEMENTARY PROVISIONS
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| Article 27 (Entrustment of Business Affairs) |
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If necessary for the smooth implementation of the storm and flood insurance program, an insurer may entrust part of the business affairs of storm and flood insurance, as prescribed by Presidential Decree, such as solicitation of insurance and damage assessment, to any of the following persons:
| 1. | Local agricultural cooperatives established under the Agricultural Cooperatives Act; |
| 3. | Other persons prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 28 (Reporting, etc.) |
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If the Administrator of the National Emergency Management Agency deems it necessary for the smooth operation of the storm and flood insurance program and the protection of insurance policy holders and the insured, he or she may require an insurer to submit a report on the current status of its business performance related to the storm and flood insurance program or relevant documents.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 29 (Mediation of Disputes) |
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[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 30 (Succession to Rights and Obligations upon Transfer of Insured Subject Matters) |
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| (1) | Where the insured transfers an insured subject matter to another person, the transferee shall be presumed to succeed to the transferor's rights and obligations arising from the relevant insurance contract. |
| (2) | In cases under paragraph (1), either the transferor or the transferee shall promptly notify the insurer of the fact. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 31 (Protection of Beneficial Rights) |
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A right to be paid insurance proceeds of a storm and flood insurance policy shall not be subject to seizure: Provided, That the foregoing shall not apply where a subject matter of insurance has been offered as security.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 32 (Notice and Prescription) |
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| (1) | An insurer shall notify each insurance policy holder of premiums, and the payment deadline of premiums, etc., as prescribed by Ministerial Decree of Public Administration and Safety. |
| (2) | A right to the return of premiums or a right to receive insurance proceeds pursuant to this Act shall become extinct by prescription, if such a right is not exercised within two years. |
| (3) | The extinctive prescription under paragraph (2) shall be governed by the Civil Act, except as provided for expressly in this Act. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 33 (Organization of Local Government) |
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The head of each local government shall organize and operate a department exclusively responsible for the business affairs of storm and flood insurance in order to smoothly operate the storm and flood insurance system under this Act.
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 34 (Relationships with Damage Subsidization Systems) |
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| (2) | Subsidies from the National Treasury or the local expenditure under Article 66 of the Framework Act on the Management of Disasters and Safety shall be granted for disaster recovery projects for subject matters not insured by storm and flood insurance, but the scale of such subsidies shall be adjusted yearly in accordance with guidelines prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 35 (Application of the Insurance Business Act) |
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As to the storm and flood insurance program under this Act, Articles 102, 118 (1), 119, 124, 131, 132, 133, 134 (1), 136, 162, 176, and 181 (1) of the Insurance Business Act shall apply. In such cases, the term "insurance company" shall be construed as "insurer." [This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
CHAPTER V PENAL PROVISIONS
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| Article 36 (Penal Provisions) |
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| (1) | A person who provides money or goods, or an insurance policy holder who demands and receives money or goods, in violation of Article 98 of the Insurance Business Act applied mutatis mutandis pursuant to Article 14 (3) shall be punished by imprisonment with prison labor for not more than three years, or by a fine not exceeding 20 million won. |
| (2) | A person who falls under any of the following subparagraphs shall be punished by imprisonment with prison labor for not more than one year, or by a fine not exceeding ten million won: |
| 1. | A person who conducts solicitation, in violation of Article 14 (1); |
| 2. | A person who intentionally conceals a true fact, or who commits fraud in damage assessment, in violation of the latter part of Article 16 (2). |
| (3) | A person who engages in accounting, in violation of Article 10 shall be punished by a fine not exceeding five million won. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 37 (Joint Penal Provisions) |
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| (1) | Where a representative, agent, employee, or other servant of a corporation commits an offense under Article 36 in connection with the business of the corporation, not only shall the offender be punished, but also the corporation shall be punished by a fine under the relevant provisions: Provided, That where the corporation has not been negligent in giving due attention and supervision concerning the relevant duties to prevent such offense, this shall not apply. |
| (2) | Where an agent, employee, or other servant of an individual commits an offense under Article 36 in connection with the business of the individual, not only shall the offender be punished, but also the individual shall be punished by a fine under the relevant provisions: Provided, That where the individual has not been negligent in giving due attention and supervision concerning the relevant duties to prevent such offense, this shall not apply. |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
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| Article 38 (Fines for Negligence) |
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| (2) | Where a promoter, an incorporator, an executive, a senior executive employee, an ordinary executive employee, an inspector, a bankruptcy administrator, or a liquidator of an insurer falls under any of the following subparagraphs, he or she shall be punished by a fine for negligence not exceeding five million won: |
| 1. | Where he or she fails to set aside a liability reserve, an emergency risk reserve, or a deficit compensation reserve, or fails to make an entry any of such reserves in account books, in violation of Articles 19 through 21; |
| (3) | A person who falls under any of the following subparagraphs shall be punished by a fine for negligence not exceeding five million won: |
| 3. | A person who fails to submit a report or relevant document under Article 28 or who makes a false representation in submitting such a report or relevant document. |
| (4) | Fines for negligence under paragraphs (1) and (3) shall be imposed and collected by the Administrator of the National Emergency Management Agency, while fines for negligence under paragraph (2) shall be imposed and collected by the Financial Services Commission, as prescribed by Presidential Decree. |
| (5) | through (7) Deleted. <by Act No. 10224, Mar. 31, 2010> |
[This Article Wholly Amended by Act No. 8998, Mar. 28, 2008]
ADDENDUM
This Act shall enter into force on the day prescribed by Presidential Decree, which shall not be later than six 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. 8863, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Articles 2 through 5 Omitted.
ADDENDUM<Act No. 8998, Mar. 28, 2008>
This Act shall enter into force six months after the date of its promulgation.
ADDENDUM<Act No. 10224, Mar. 31, 2010>
This Act shall enter into force on the date of its promulgation.
ADDENDUM<Act No. 11497, Oct. 22, 2012>
This Act shall enter into force on the date of its promulgation.
Last updated : 2013-02-18