ENFORCEMENT DECREE OF THE ACT ON THE MANAGEMENT OF PUBLIC INSTITUTIONS
Presidential Decree No. 19978, Mar. 27, 2007
Amended by Presidential Decree No. 20720, Feb. 29, 2008
Presidential Decree No. 20947, Jul. 29, 2008
Presidential Decree No. 22088, Mar. 26, 2010
Presidential Decree No. 24780, Oct. 2, 2013
Presidential Decree No. 25279, Mar. 24, 2014
Presidential Decree No. 25532, Aug. 6, 2014
Presidential Decree No. 25751, Nov. 19, 2014
Presidential Decree No. 27073, Mar. 31, 2016
Presidential Decree No. 27505, Sep. 22, 2016
Presidential Decree No. 28211, Jul. 26, 2017
Presidential Decree No. 28232, Aug. 9, 2017
Presidential Decree No. 29184, Sep. 28, 2018
Presidential Decree No. 29858, jun. 18, 2019
Presidential Decree No. 31169, Nov. 24, 2020
Presidential Decree No. 31380, Jan. 5, 2021
Presidential Decree No. 31726, jun. 8, 2021
Presidential Decree No. 32232, Dec. 21, 2021
Presidential Decree No. 32449, Feb. 17, 2022
Presidential Decree No. 32832, Aug. 2, 2022
| Article 2 (Amount of Total Revenue) |
"Amount of total revenue" in Articles 4 (1) 2 and 5 (3) of the Act on the Management of Public Institutions (hereinafter referred to as the "Act"), paragraph (4) 1 (a) of that Article, and Article 7 (1) 2 of this Decree means an amount calculated in accordance with attached Table 1, excluding the amount of obligations to pay in the future from the revenue acquired by the institution as earnings from its business or granted as an aid by the State, a local government, a private sector, etc. and the derivative revenue yielded from such revenue. <Amended on Nov. 24, 2020>
| Article 3 (Amount of Government Grants) |
"Amount of the Government grants" in Article 4 (1) 2 of the Act means the aggregate of the following amounts out of the amount of total revenue: | 1. | The amount of revenue transferred from the Government including contributions and subsidies, and the amount of revenue transferred from a private sector, etc. in compliance with mandatory provisions of statutes and regulations, including charges under the Framework Act on the Management of Charges; |
| 2. | The amount of revenue earned from a business specified by statutes and regulations as a business of the institution or commissioned on the grounds prescribed for such commission by statutes and regulations or the amount of revenue earned from a monopoly provided for by statutes and regulations or granted on the grounds prescribed by statutes and regulations. In such cases, the amount of revenue means all revenues earned from a commissioned business or monopoly, including fee, admission fee, use charge, insurance premium, contribution, charge, etc. in whatsoever name; |
| 3. | The amount of derivative revenue yielded from the management of the revenues specified in subparagraphs 1 and 2. |
| Article 4 (Criteria for Securing De Facto Control) |
| 1. | Where it is possible, because of the largest shares in possession, to control the institution by the exercise of shareholders’ rights in light of the diversification of shares; |
| 2. | Where involvement in appointment (including approval and recommendation) of the head of the institution or a majority of members of its board of directors is secured by statutes and regulations or the articles of incorporation; |
| 3. | Where an authority to approve the budget or business plan of the institution is secured by statutes and regulations or the articles of incorporation. |
| Article 5 (Self-Generating Revenue) |
"Self-generating revenue" in Article 5 (3) of the Act and paragraph (4) 1 (a) of that Article means the aggregate of the following revenues, excluding the amount falling under subparagraph 1 of Article 3 from calculation of the following revenues: <Amended on Nov. 24, 2020> | 1. | Revenue from the business for its original purpose: The amount of revenue directly generated from the business specified in the Act that provides for the ground for the establishment of the relevant institution or its articles of incorporation, as calculated in accordance with attached Table 2; |
| 2. | Revenue from other business: The amount of revenue generated from the business not specified in the Act that provides for the ground for the establishment of the relevant institution or its articles of incorporation, as calculated in accordance with attached Table 2; |
| 3. | Revenue from any sources other than business: The amount of incidental revenue accrued derivatively from the business specified in subparagraphs 1 and 2, such as interest income accrued from the momentary fund management, as calculated in accordance with attached Table 2. |
| Article 6 (Method for Calculating Total Revenue) |
| (1) | The amount of total revenue under Articles 4 (1) 2 and 5 (3) of the Act, paragraph (4) 1 (a) of that Article, and Article 7 (1) 2 of this Decree, the amount of the Government grants under Article 4 (1) 2 of the Act, and the amount of self-generating revenue under Article 5 (3) of the Act, and paragraph (4) 1 (a) of that Article (hereinafter referred to as "amount of total revenue, etc.") shall be the three-year average amount, calculated based on the financial statements at closing for the latest three years. <Amended on Nov. 24, 2020> |
| (2) | In calculating total revenue, etc. in accordance with paragraph (1), an institution of which financial statements have been prepared for less than three years shall calculate its total revenue, etc. utilizing the financial statements for the corresponding period of time, while an institution whose financial statements have not been prepared yet shall prepare data equivalent to those statements based on its budget for such calculation. <Amended on Nov. 24, 2020> |
| (3) | The financial statements under paragraph (1) shall be in principle the financial statements prepared on the basis of accruals: Provided, That an institution that does not prepare such statements in accordance with accruals shall prepare data equivalent to those statements for such calculation. <Amended on Nov. 24, 2020> |
| (4) | The prescribed number of employees for purposes of applying Article 5 (1) 1 of the Act, Article 3 (2) of the Addenda to the Act on the Management of Public Institutions (Act No. 8258), and Articles 21 (1) and 22 (1) of this Decree means the prescribed number of employees as of the end of the year immediately preceding the designation as a public institution or the appointment or removal of executive officers: Provided, That in cases of a public institution of which the prescribed number of employees as of the end of the immediately preceding year does not exist due to reasons, such as being newly designated as a public institution under the proviso of Article 6 (1) of the Act, it refers to the prescribed number as of the date such reason arises. <Amended on Mar. 26, 2010; Nov. 24, 2020; Aug. 2, 2022> |
| (5) | The asset size under Article 5 (1) 1, paragraph (4) 1 (a) of that Article, main clauses of Article 18 (2) and (4), the main clause of Article 20 (2), paragraph (3) of that Article, the proviso of Article 21 (2) of the Act, and Article 22 (1) 2 of this Decree shall be calculated based on the financial statements at closing for the latest year: Provided, That in cases of a public institution, financial statements of which are not prepared due to reasons, such as being newly designated as a public institution pursuant to the proviso, with the exception of the subparagraphs, of Article 6 (1) of the Act, the asset size shall be calculated based on the budget of the year in which such reason arises. <Amended on Mar. 26, 2010; Nov. 24, 2020> |
| (6) | The amount of total revenue under Articles 21 (1) and 22 (1) 1 shall be calculated based on the financial statements at closing for the latest year: Provided, That in cases of a public institution, financial statements of which are not prepared due to reasons, such as being newly designated as a public institution under the proviso, with the exception of the subparagraphs, of Article 6 (1) of the Act, the amount of total revenue shall be calculated based on the budget of the year in which such reason arises. <Amended on Mar. 26, 2010; Aug. 2, 2022> |
| (7) | The Minister of Economy and Finance may prepare specific guidelines for calculating total revenue, etc. to notify them to the administrative agencies that control the affairs of public enterprises, quasi-governmental institutions, and non-classified public institutions under relevant statutes and regulations (hereinafter referred to as "competent agencies"). <Amended on Feb. 29, 2008; Nov. 24, 2020> |
| Article 7 (Criteria for Designation of Public Enterprises and Quasi-Governmental Institutions) |
| (1) | Pursuant to Article 5 (1) 1 of the Act, the Minister of Economy and Finance shall designate a public institution satisfying the following criteria as a public enterprise or quasi-governmental institution: |
| 1. | The prescribed number of employees: At least 50 persons; |
| 2. | Amount of revenue (referring to the amount of its total revenue): At least three billion won; |
| 3. | Asset size: At least one billion won. |
| (2) | The Minister of Economy and Finance shall designate a public institution whose ratio of self-generating revenue to the total revenue is at least 50/100 (85/100 in cases of a public institution that manages a fund or is entrusted with the management of a fund pursuant to the National Finance Act) under Article 5 (3) of the Act as a public enterprise. <Amended on Dec. 21, 2021> |
| (3) | Pursuant to Article 5 (4) 1 of the Act, the Minister of Economy and Finance shall designate a public enterprise meeting the following criteria as a market-type public enterprise: |
| 1. | Asset size: Two trillion won; |
| 2. | The ratio of self-generating revenue to total revenue: 85/100. |
[This Article Wholly Amended on Nov. 24, 2020]
| Article 7-2 (Criteria for Designating Non-Classified Public Institutions) |
| (1) | The Minister of Economy and Finance may designate any of the following public institutions as a non-classified public institution under Article 5 (2) of the Act: |
| 1. | An institution with a responsible management system established under other statutes, which falls under any of the following: |
| (d) | Other institutions recognized by the Minister of Economy and Finance as having a separate responsible management system in accordance with other statutes; |
| 2. | An institution with a strong need to ensure independence and autonomy in its operation, which falls under any of the following: |
| (a) | Educational institutions established with contributions or investments from public institutions; |
| (b) | Agencies performing judicial affairs, quasi-judicial affairs, affairs of settlement and mediation, or affairs to which international norms apply; |
| (c) | Institutions with a strong need for autonomous management considering competition with private enterprises; |
| (d) | Agencies whose main purpose is research and development; |
| (e) | Other institutions similar to those prescribed in items (a) through (d), which are recognized by the Minister of Economy and Finance as having a strong need for independence and autonomy in their operation; |
| 3. | Other institutions determined by the Minister of Economy and Finance in recognition of their necessity, subject to deliberation and resolution by the Ownership Steering Committee (hereinafter referred to as the "Steering Committee") under Article 8 of the Act. |
| (2) | The Minister of Economy and Finance may designate an institution falling under any of the following subparagraphs, among non-classified public institutions, as an institution aimed at research and development pursuant to Article 5 (5) of the Act: |
| 3. | Other institutions aimed at research and development, as determined subject to deliberation and resolution by the Steering Committee. |
[This Article Wholly Amended on Nov. 24, 2020]
| Article 8 (Procedure for Designation of Public Institutions) |
| (1) | The head of the competent agency shall notify the Minister of Economy and Finance of the institutions subject to designation of public institutions pursuant to Article 4 of the Act by not later than one month before the beginning of each fiscal year. <Amended on Feb. 29, 2008> |
| (2) | If any change occurs in the legal personality, name, etc. of a public institution, or any reason arises for initial designation of or designation of a public institution by changing the classification or any reason for the cancellation of designation pursuant to the proviso, with the exception of the subparagraphs, of Article 6 (1) of the Act the head of the competent agency shall notify the details thereof to the Minister of Economy and Finance without delay. <Amended on Mar. 26, 2010> |
| Article 9 (Examination on Establishment of New Institution) |
Where the head of the competent agency requests the Minister of Economy and Finance to examine the feasibility of the establishment of a new institution in accordance with Article 7 (1) of the Act, he or she shall submit a plan containing the following descriptions and materials: <Amended on Feb. 29, 2008> | 1. | Scope and details of the business of the institution; |
| 2. | Services and goods that the new institution will provide; |
| 3. | Annual revenue expected and budget of the Government grants required for the next five years; |
| 4. | Plan for the operation of the organization and human resources for the next five years; |
| 5. | Current status of related institutions already established; |
| 6. | Other materials requested by the Minister of Economy and Finance. |
| Article 10 (Matters Subject to Deliberation and Resolution by Steering Committee) |
"Other matters prescribed by Presidential Decree concerning operation of public institutions" in subparagraph 17 of Article 8 of the Act means the following matters: <Amended on Aug. 9, 2017; Sep. 28, 2018; Nov. 24, 2020> | 1. | Matters concerning whether it is an institution falling under Article 7-2 (1) 3 or paragraph (2) 3 of that Article; |
| 2. | Matters concerning the items of, and criteria and procedure for, the integrated disclosure under Article 16; |
| 3. | Matters concerning the scope of public institutions that provide direct services to the people under Article 17 (1); |
| 4. | Matters concerning the designation of the institutions excluded from those subject to the adjustment of function, etc. under Article 18 (2); |
| 5. | Matters concerning the request for evaluation of management performance under Article 27 (1); |
| 6. | Matters concerning the operation of the management evaluation team for public enterprises and quasi-governmental institutions under Article 28 (4); |
| 7. | Matters necessary for conducting inspection on personnel affairs under Article 29-7 (4); |
| 8. | Matters concerning decisions on whether any revenue amount falls under substantial one under subparagraph 3 (c) of attached Table 1. |
| Article 11 (Composition of Steering Committee) |
| (1) | "Vice Minister, Deputy Administrator, or an equivalent public official of the related administrative agency as prescribed by Presidential Decree" in Article 9 (1) 2 of the Act means the following persons: <Amended on Feb. 29, 2008; Mar. 23, 2013; Nov. 19, 2014; Jul. 26, 2017> |
| 1. | The Vice Minister of Economy and Finance nominated by the Minister of Economy and Finance; |
| 2. | The Vice Minister of the Interior and Safety; |
| 3. | One Vice Minister-level public official nominated by the Chairperson of Anti-Corruption & Civil Rights Commission; |
| 4. | The Minister of Personnel Management. |
| (2) | "People who have good knowledge and experience in the area of the operation and business administration of public institutions" in Article 9 (1) 4 of the Act means any of the following persons: <Amended on Jul. 29, 2008> |
| 1. | Persons who have a career of working for a university, a college, or an officially recognized research institute as an associate professor or in an equivalent position for at least five years; |
| 2. | Persons who have a career as a judge, a prosecutor, or a lawyer for at least 10 years; |
| 4. | Persons who have a career of engaging in the area of audit or accounting for the institutions listed in subparagraph 3 with a license of certified public accountant for at least 10 years; |
| 5. | Public officials in the Senior Executive Service or persons who have served as a public official in political service; |
| 6. | Other persons whose careers, etc. related to the operation of a public institution are recognized as equivalent to the criteria set forth in subparagraphs 1 through 5. |
| (3) | The Steering Committee may establish and run an advisory team composed of related specialists to give advice on specialized or technical matters relating to the operation of public institutions. |
| Article 12 (Operation of Steering Committee) |
| (1) | The chairperson shall convene and preside over the meetings of the Steering Committee. |
| (2) | If the chairperson is unable to perform his or her duties due to any unavoidable cause, a member designated by the chairperson shall act on behalf of the chairperson. <Amended on Mar. 26, 2010> |
| (3) | The Steering Committee may request a public official concerned or an executive officer or an employee, etc. of a public institution to appear before the committee, submit materials, and present his or her opinion whenever necessary for conducting its affairs. |
| (4) | Allowances, travel expenses, and other necessary expenses may be reimbursed to the committee members, other than public officials, within the budget. |
| (5) | The chairperson shall send the materials related to the matters on the agenda brought up to the meeting of the Steering Committee, in advance, to the Chairperson of the Board of Audit and Inspection and the heads of related administrative agencies pursuant to Article 10 (3) of the Act. |
| (6) | The Steering Committee shall prepare the minutes of a meeting, including the date and time, place, attendants, agenda items, the gist of statements, and decisions, pursuant to Article 10 (6) of the Act, and shall disclose them to the public, as determined by the chairperson subject to resolution by the Steering Committee. <Amended on Nov. 24, 2020> |
| (7) | Except as provided in paragraphs (1) through (6), matters necessary for operating the Steering Committee shall be determined by the chairperson subject to resolution by the Steering Committee. <Amended on Nov. 24, 2020> |
| Article 13 (Disqualification of, Challenge to, or Refrainment by, a Member of Steering Committee) |
| (1) | A committee member shall be disqualified from deliberation and resolution on any of the following matters: |
| 1. | A matter in which the member has direct interests; |
| 2. | A matter in which the member's spouse, relative by blood within the fourth degree, or relative by marriage within the second degree, or an institution to which the member belongs has interests; |
| 3. | A matter in which a person who acts as an advisor, a consultant, etc. for the member, or an institution to which the member belongs has interests. |
| (2) | A person who has direct interests in a matter subject to deliberation and resolution by the Steering Committee may file an application for challenge against a member, if there is any ground on which it is difficult to expect fairness in deliberation and resolution. In such cases, the chairperson shall decide whether to accept the application for challenge, without referring it to the Steering Committee for resolution. |
| (3) | A committee member may voluntarily refrain from deliberation and resolution on a case, if he or she falls under any of the grounds set forth in paragraph (1) or (2). |
| Article 14 (Subcommittees) |
| (1) | The Steering Committee may have subcommittees composed of some of the committee members for conducting its affairs in an efficient manner. |
| (2) | The chairperson and members of a subcommittee shall be appointed by the chairperson of the Steering Committee. |
| (3) | The subcommittee shall review matters decided by a resolution of the Steering Committee, and shall report the results thereof to the Steering Committee. |
| (4) | Other matters necessary for the organization and operation of subcommittees shall be prescribed by the chairperson after resolution by the Steering Committee. |
| Article 15 (Disclosure on Management) |
A public institution shall comply with the following when disclosing the matters prescribed in Article 11 (1) of the Act: <Amended on Mar. 26, 2010; Sep. 22, 2016; Sep. 28, 2018> | 1. | The disclosure on management shall be made by posting and furnishing the data for the latest five years concerning the matters subject to disclosure; |
| 2. | The statements on the settlement of accounts under Article 11 (1) 2 of the Act shall be posted and furnished within 90 days after the end of each business year; |
| Article 16 (Integrated Disclosure) |
| (1) | The Minister of Economy and Finance shall prescribe the items subject to integrated disclosure under Article 12 of the Act and the matters concerning the criteria and procedures therefor (hereinafter referred to as "criteria, etc. for integrated disclosure") after deliberation and resolution by the Steering Committee, and shall notify them to the heads of public institutions. <Amended on Feb. 29, 2008> |
| (2) | In cases of revising the matters concerning the criteria, etc. for integrated disclosure prescribed in paragraph (1), the Minister of Economy and Finance shall finalize such revision after deliberation and resolution by the Steering Committee, and shall notify it to the heads of public institutions by not later than 14 days before enforcing the criteria, etc. for integrated disclosure as revised. <Amended on Feb. 29, 2008> |
| (3) | The head of a public institution shall disclose the operation information in accordance with the criteria, etc. for integrated disclosure under paragraphs (1) and (2) on the website designated by the Minister of Economy and Finance. <Amended on Feb. 29, 2008> |
| Article 17 (Customer Charter) |
| (1) | The Minister of Economy and Finance shall determine the scope of public institutions that provide direct service to the people, after deliberation and resolution by the Steering Committee, and shall notify the heads of public institutions of such scope. <Amended on Feb. 29, 2008> |
| (2) | Upon establishing the customer charter under Article 13 (1) of the Act, every public institution shall publish it via the Internet, etc. or post it at a certain place to make it known to the people. |
| (3) | The heads of public institutions may request an independent specialized institution to conduct a survey on customer satisfaction level under Article 13 (2) of the Act. |
| Article 18 (Adjustment of Functions of Public Institutions) |
| (1) | The Minister of Economy and Finance may carry out phased adjustment of functions, etc. of public institutions under Article 14 of the Act, considering the nature, peculiarities of affairs, etc. of public institutions. <Amended on Feb. 29, 2008> |
| (2) | The Minister of Economy and Finance may exclude any of the following public institutions from those subject to adjustment of functions, etc. under Article 14 of the Act after deliberation and resolution by the Steering Committee: <Amended on Feb. 29, 2008; Jan. 5, 2021> |
| 1. | An institution for which a relevant Act provides that it is necessary to guarantee independence from the Government and neutrality in executing the functions of the institution; |
| 2. | An institution for which three years have not passed yet since its establishment; |
| 3. | Other institutions for which the Steering Committee determines it not proper to be subject to adjustment of functions, etc., considering the characteristics of its affairs, etc. |
| (3) | Where necessary for the smooth implementation of a plan under Article 14 (4) of the Act, the Minister of Economy and Finance may, after consultation with the head of the competent agency and through deliberation and resolution by the Steering Committee, request the head of the competent agency to entrust the disposal of properties owned by the State and public institutions to the Korea Asset Management Corporation prescribed in the Act on the Establishment of Korea Asset Management Corporation (hereinafter referred to as the “Korea Asset Management Corporation”). <Newly Inserted on Jul. 14, 2011; Mar. 24, 2014; Sep. 28, 2018; Feb. 17, 2022> |
| (4) | When entrusting the disposal of owned properties pursuant to paragraph (3), the head of the competent agency shall enter into a commission contract with the Korea Asset Management Corporation that includes each of the following subparagraphs: <Newly Inserted on Jul. 14, 2011> |
| 1. | The purpose of the entrustment; |
| 2. | The cost and fee of the entrustment; |
| 3. | Other matters necessary for execution of the entrustment. |
| Article 19 (Non-Standing Senior Director) |
| (1) | A non-standing senior director prescribed in Article 21 of the Act shall be appointed, from among persons with extensive knowledge of and experience in operation and business administration of public institution and good reputation of impartiality and fall under any subparagraph of Article 11 (2). |
| (2) | A non-standing senior director may convene and preside over the non-standing directors' meeting to discuss the matters on the agenda of the directors' meeting and other matters concerning the operation of the institution. |
| (3) | The head of a public enterprise or a quasi-governmental institution shall help a non-standing senior director carry out the affairs set forth in paragraph (2) as necessary. |
| Article 20 (Explanation for Non-Standing Director's Request for Audit) |
| (1) | Where it is difficult to comply with the non-standing director's request for audit under Article 22 (2) of the Act due to extraordinary circumstances, the auditor or the audit committee shall explain such circumstances to the non-standing director, and shall report it to the board of directors. |
| (2) | Where it is difficult to comply with the non-standing director's demand for data under Article 22 (3) of the Act due to extraordinary circumstances, the head of a public enterprise or a quasi-governmental institution shall explain such circumstances to the non-standing director, and shall report it to the board of directors. |
| Article 20-2 (Goal-fixing System for Appointment of Executive Officers for Securing Gender Equality) |
| (1) | The head of a public enterprise or quasi-government agency shall prepare and submit an annual report under Article 24-2 (3) of the Act to the Minister of Economy and Finance and the head of the competent agency together with the business performance report under Article 47 (1) of the Act. |
| (2) | An annual report under paragraph (1) shall include the following matters: |
| 1. | Current status of gender equality in composition of executive officers (including the number and ratio by gender); |
| 2. | Performance of gender equality implementation for the preceding year and the result of check-up thereon; |
| 3. | Annual goals of appointment of executive officers in consideration of gender equality for the next five years and plans for implementation thereof, including the year when an annual report is submitted; |
| 4. | Other matters deemed necessary for achieving the goals of appointment of executive officers to secure gender equality. |
| (3) | The head of the competent agency upon receipt of an annual report pursuant to paragraph (1) may, if deemed necessary, present his or her opinion thereon to the Minister of Economy and Finance. |
| (4) | Except as provided in paragraphs (1) through (3), matters necessary for formulating and implementing the goals of appointment of executive officers to secure gender equality, and for preparing and presenting a report thereon shall be determined by the Minister of Economy and Finance. |
[This Article Newly Inserted on Jun. 18, 2019]
| Article 21 (Appointment or Removal from Office of Executive Officers of Public Enterprises) |
| (1) | "Public enterprise, the size of which is below the criteria prescribed by Presidential Decree" in the provisos of Article 25 (1) and (5) of the Act means a public enterprise whose total revenue under Article 2 is less than 100 billion won or whose prescribed number of employees is less than 500 persons. <Amended on Aug. 2, 2022> |
| (2) | Procedures for the recommendation of non-standing directors of a public enterprise and consent thereto under Article 25 (3) 2 of the Act shall be as follows: <Newly Inserted on Aug. 2, 2022> |
| 1. | Where there is a labor union consisting of the majority of the employees (referring to employees defined in Article 2 (1) 1 of the Labor Standards Act; hereinafter the same shall apply): The representative of employees (referring to the representative of the labor union consisting of the majority of the employees) shall recommend two employees deemed suitable for non-standing directors from among employees of the institution who have worked for the institution for at least three years; |
| 2. | Where there is no labor union consisting of the majority of the employees: Two employees shall be elected through direct, secret, and unsigned votes on candidates selected at the recommendation of at least 5/100 of all of the employees from among employees of the relevant institution who have worked for the institution for at least three years. |
| Article 22 (Appointment or Removal from Office of Executive Officers of Quasi-Governmental Institutions) |
| (1) | "Criteria prescribed by Presidential Decree" in the main clause of Article 24 (3) of the Act, the proviso of Article 26 (1) of the Act, the former part of paragraph (3) of that Article, and the proviso of paragraph (5) of that Article means the following criteria, respectively: <Amended on Mar. 26, 2010; Mar. 31, 2016; Aug. 2, 2022> |
| 1. | Commissioned service-type quasi-governmental institutions: Whose total revenue under Article 2 shall be no less than 100 billion won and whose prescribed number of employees shall be no less than 500 persons; |
| 2. | Fund operation-type quasi-governmental institutions: Whose asset size (including fund assets in commissioned operation) shall be no less than one trillion won and whose prescribed number of employees shall be no less than 500 persons. |
| (2) | "Quasi-governmental institution which is prescribed by Presidential Decree" in the main clause of Article 24 (3) of the Act, the proviso of Article 26 (1) of the Act, the former part of paragraph (3) of that Article, the proviso of paragraph (5) of that Article means any of the following institutions: <Amended on Mar. 26, 2010; Mar. 31, 2016; Aug. 2, 2022> |
| 6. | Korea Student Aid Foundation under the Act on the Establishment of Korea Student Aid Foundation; |
| (3) | Article 21 (2) shall apply mutatis mutandis to procedures for the recommendation of non-standing directors of a public enterprise and consent thereto under the latter part of Article 26 (3) of the Act. <Newly Inserted on Aug. 2, 2022> |
| Article 23 (Organization and Operation of Committee for Recommendation of Executive Officers) |
| (1) | The board of directors of a public enterprise or a quasi-governmental institution shall organize the Committee for Recommendation of Executive Officers prescribed in Article 29 of the Act (hereinafter referred to as "Recommendation Committee") at least two months before the expiration of the term of office of an executive officer (if it is necessary to appoint a new executive officer due to reasons other than the expiration of the term of office of an executive officer, within one month from the date such reasons arise). <Amended on Nov. 24, 2020> |
| (2) | The Recommendation Committee organized due to the expiration of the term of office of an executive officer shall recommend multiple candidates for an executive officer before the expiration of the term of office: Provided, That it may extend the deadline for recommendation of candidates, subject to consultation with the appointing authority or recommending authority, if there are unavoidable causes such as where it has to conduct another open recruitment for potential candidates because there are not more than two potential candidates for an executive officer. <Newly Inserted on Nov. 24, 2020> |
| (3) | The number of members of the Recommendation Committee shall be determined by a resolution of the board of directors within the range between five and fifteen persons: Provided, That the number of the members may be two or three persons, if the number of non-standing directors as at the time of the organization of the Recommendation Committee is not more than two persons. <Amended on Mar. 26, 2010; Nov. 24, 2020> |
| (4) | The members appointed by the board of directors under Article 29 (2) of the Act shall be chosen, from among persons with extensive knowledge of and experience in the various areas of law, economy, press, academia, labor, etc.: Provided, That such members shall include one person who can represent the opinions of the members of the relevant public enterprise or quasi-governmental institution. <Amended on Nov. 24, 2020> |
| (5) | The Recommendation Committee shall adopt a resolution by the affirmative vote of a majority of its incumbent members. <Amended on Nov. 24, 2020> |
| (6) | The Recommendation Committee may commission some of its works, including invitation and search of candidates for executive officers, to a specialized institution. <Amended on Nov. 24, 2020> |
| (7) | Matters necessary for the operation of the Recommendation Committee, such as the organization of the Recommendation Committee, the system for exclusion, challenge, or abstention of a member, etc. and the appointment of executive officers in addition to the matters prescribed by the Act or this Decree shall be provided for by the articles of incorporation or the bylaws of the public enterprise or the quasi-governmental institution. <Amended on Nov. 24, 2020> |
| Article 23-2 (Criteria for Recommendation of Candidates for Auditor) |
| (3) | "Persons ... who have qualifications prescribed by Presidential Decree" in Article 30 (2) 5 of the Act means persons who satisfy all of the following requirements: |
| 1. | He or she shall have at least five years of work experience in a field related to the affairs of a public institution where he or she is to be appointed; |
| 2. | He or she shall have been in charge of audit, investigation, judicial affairs, budget, accounting, survey, planning, evaluation, etc. for at least one year at a government agency, local government, public institution, corporation, organization supported under the Assistance for Non-Profit, Non-Governmental Organizations Act, or a political party registered with the competent election commission under the Political Parties Act. |
[This Article Newly Inserted on Nov. 24, 2020]
| Article 24 (Invitation of Candidates for Executive Officers) |
| (1) | When inviting candidates for executive officers publicly in accordance with Article 30 (4) of the Act, such invitation shall be publicly announced on the website of the public enterprise or the quasi-governmental institution and in one or more daily newspapers, and the period of time allowed for application shall be at least one week: Provided, That such period of time may be shortened with approval of the head of the competent agency, if there exist unavoidable circumstances for prompt appointment. <Amended on Mar. 26, 2010; Aug. 9, 2017> |
| (2) | When publicly announcing the matters concerning the open invitation of candidates for executive officers under paragraph (1), a public enterprise or a quasi-governmental institution shall request the competent agency, the Ministry of Economy and Finance, and the Ministry of Personnel Management to post such invitation on their websites. <Amended on Feb. 29, 2008; Mar. 23, 2013; Nov. 19, 2014> |
| Article 24-2 (Request for Re-recommendation of Candidates for Executive Officers) |
An appointing authority or recommending authority for appointment of executive officers of a public enterprise or a quasi-government institution referred to in Article 25 or 26 of the Act may make a request for the re-recommendation of candidates for executive officers to the Recommendation Committee, if the candidates for executive officers recommended by the Recommendation Committee fall under the grounds for disqualifications under Article 34 (1) of the Act or are deemed noticeably inappropriate for the operation of a public enterprise or a quasi-government institution. [This Article Newly Inserted on Mar. 26, 2010]
| Article 25 (Restriction on Concurrent Offices of Executive Officers and Employees) |
| Article 25-2 (Institutions to Establish Mid- and Long-Term Financial Management Plans) |
| (1) | “Public corporations and quasi-governmental institutions under the categories prescribed by Presidential Decree” in Article 39-2 (1) 2 of the Act means any of the following public corporations and quasi-governmental institutions: |
| 1. | Public enterprises and quasi-governmental institutions for which the provisions on compensation by the Government for their losses are prescribed by the Acts that set forth the grounds for the establishment of such public corporations and quasi-government institutions; |
| 2. | Public enterprises and quasi-governmental institutions that the Minister of Economy and Finance determines and publicly notifies, based on the comprehensive consideration of the scale, cause, term, etc. of the encroachment of capital, from among public corporations and quasi-governmental institutions the amount of debt of which exceeds assets. |
| (2) | When establishing a mid- and long-term financial management plan, the head of an institution falling under any of the subparagraphs under Article 39-2 (1) of the Act shall comply with the preparation method, etc. determined and publicly notified by the Minister of Economy and Finance, in consideration of the following: |
| 1. | Matters relating to specific items that must be commonly included in the contents to be prepared; |
| 2. | Matters relating to standard setting, such as an assumption commonly applied to various kinds of prospects, assessments, and analyses; |
| 3. | Matters necessary for maintaining objectivity of the contents to be prepared; |
| 4. | Matters relating to contents that must be included in the financial management plan referred to in Article 39-2 (2) 3 of the Act and the liability management plan referred to in subparagraph 4 of that paragraph. |
| (3) | Where necessary for establishing matters regarding the preparation method of the mid- and long-term financial management plan under paragraph (2), the Minister of Economy and Finance may consult with the head of the competent agency. |
[This Article Newly Inserted on Oct. 2, 2013]
| Article 25-3 (Preliminary Feasibility Study) |
| (1) | The head of a public enterprise or quasi-governmental institution (hereafter referred to as “institution head” in this Article and Article 25-4) shall apply for a preliminary feasibility study as provided in the main clause of Article 40 (3) of the Act to the Minister of Economy and Finance, if he or she intends to compile a budget for any new investment project or capital investment that meets both of the following requirements: <Amended on Nov. 24, 2020> |
| 1. | The total required budget is 100 billion won or more; |
| 2. | The sum of the amounts to be contributed by the State and the relevant institution is 50 billion won or more. |
| (2) | An institution head who applies for a preliminary feasibility study under paragraph (1) shall submit a business plan specifying the name, outline, necessity, etc. of the relevant project to the Minister of Economy and Finance. |
| (3) | The Minister of Economy and Finance who receives an application under paragraph (1) shall determine whether to conduct the preliminary feasibility study, after a consultation with relevant experts. |
| (4) | If an institution head intends to obtain confirmation that any new investment project or capital investment meeting all of the requirements prescribed in the subparagraphs of paragraph (1) is eligible for an exemption from a preliminary feasibility study under the proviso of Article 40 (3) of the Act, he or she shall submit to the Minister of Economy and Finance a written request for confirmation of exemption from a preliminary feasibility study that specifies the name, outline, necessity, etc. of the relevant project and the grounds for exemption: Provided, That the institution head may also submit a written request for confirmation of exemption from a preliminary feasibility study before obtaining the consent of the competent Standing Committee of the National Assembly under Article 40 (3) 5 of the Act, if he or she intends to obtain confirmation from the Minister of Economy and Finance that the relevant project needs to be urgently implemented to prevent a disaster defined in subparagraph 1 of Article 3 of the Framework Act on the Management of Disasters and Safety (hereinafter referred to as "disaster"). <Amended on Nov. 24, 2020> |
| (5) | If the Minister of Economy and Finance who receives a written requirement for confirmation of exemption from a preliminary feasibility study under paragraph (4) confirms, after a consultation with relevant experts, that the relevant project corresponds to any subparagraph of Article 40 (3) of the Act, he or she shall inform the result to the institution head. |
| (6) | The Minister of Economy and Finance shall prepare and inform to each institution head a guideline including selection criteria, agencies, methodologies, procedures, etc. for a preliminary feasibility study under Article 40 (3) of the Act. |
[This Article Newly Inserted on Sep. 22, 2016]
| Article 25-4 (Feasibility Review) |
| (1) | An institution head shall conduct a feasibility review of any of the following projects (hereinafter referred to as "feasibility review") pursuant to Article 40-3 (1) of the Act: |
| 1. | A project for which a preliminary feasibility study was not conducted because the aggregate of the total project costs or the State’s financial support and the amount of contributions from public institutions falls short of the scale subject to a preliminary feasibility study (hereafter in this subparagraph referred to as "scale subject to a preliminary feasibility study") under the subparagraphs of Article 25-3 (1) (hereafter in this Article referred to as "preliminary feasibility survey") but the aggregate of which has risen to a level equal to or greater than that subject to a preliminary feasibility study in the course of promotion thereof; |
| 2. | A project for which a budget has been compiled and is being implemented without undergoing a preliminary feasibility survey, out of projects subject to a preliminary feasibility study; |
| 3. | A project the total project cost of which, excluding price increases and increase in compensation for loss of land, etc. required for the implementation of public works projects, has grown by at least 30 percent compared to the total project cost, excluding compensation for loss of land, etc., as at the time a preliminary feasibility study was conducted, out of the projects which have undergone a preliminary feasibility study; |
| 4. | A project the demand forecast for which has decreased by at least 30 percent compared to the time the preliminary feasibility survey was conducted, due to changes in the conditions surrounding the project, etc.; |
| 5. | A project for which the Board of Audit and Inspection requests a feasibility review according to the results of audit; |
| 6. | Other projects for which the head of the competent agency or the Minister of Economy and Finance requests a feasibility review as it is deemed necessary to conduct a feasibility review due to a possible waste of budget, etc. caused by overlapped investments, etc. |
| (2) | Notwithstanding paragraph (1), an institution head need not conduct a feasibility review subject to consultation with the head of the competent agency and the Minister of Economy and Finance in any of the following cases: |
| 1. | Where there is no practical benefit to be gained from conducting a feasibility review, such as where a considerable part of the project has already been built and thus the sunk cost accounts for a large portion; |
| 2. | Where a project is promoted in order to respond to urgent economic or social situations; |
| 3. | Where the project needs to be implemented urgently to prevent disasters, to support recovery, for safety issues, etc. |
[This Article Newly Inserted on Nov. 24, 2020]
| Article 26 (Submission of Statements on Settlement of Accounts) |
| (1) | Deleted. <Oct. 14, 2011> |
| (2) | A quasi-governmental institution shall submit the final statements on the settlement of accounts to the Minister of Economy and Finance within 10 days after the statements are finalized in accordance with Article 43 (2) of the Act. <Amended on Feb. 29, 2008> |
| Article 26-2 (Organization and Operation of Appointment Committee of Accounting Auditors) |
| (1) | Members of an appointment committee for accounting auditors referred to in Article 43-2 (1) of the Act (excluding cases where an audit committee is deemed an appointment committee for accounting auditors under that paragraph) shall be comprised of all auditors and non-standing directors of the relevant public enterprise or quasi-government institution. |
| (2) | The chairperson of the appointment committee for accounting auditors shall be elected, from among the members who are non-standing directors of the relevant public enterprise or quasi-government institution. |
| (3) | The chairperson shall convene and preside over the meetings of the appointment committee for accounting auditors. |
| (4) | Meetings of the appointment committee for accounting auditors shall be held with the attendance of more than 2/3 of the incumbent members and require the consent of a majority of the members present for resolution. |
| (5) | Matters necessary for the operations, etc. of the appointment committee for accounting auditors, other than the matters specified in paragraphs (1) through (4), shall be determined by the Minister of Economy and Finance. |
[This Article Newly Inserted on Mar. 26, 2010]
| Article 27 (Management Performance Evaluation) |
| (1) | The Minister of Economy and Finance may commission the management performance evaluation of public enterprises and quasi-governmental institutions to a specialized institution, after resolution by the Steering Committee, if deemed necessary. <Amended on Feb. 29, 2008> |
| (2) | The Minister of Economy and Finance shall prepare a manual for the management performance evaluation before the beginning of each fiscal year, taking into consideration the criteria and method for the management performance evaluation as well as the corrective measures, etc. according to the evaluation results, pursuant to Article 48 of the Act: Provided, That with respect to a public enterprise or a quasi-governmental institution newly designated pursuant to Article 6 of the Act, the manual for the management performance evaluation shall be prepared within four months after such designation. <Amended on Feb. 29, 2008; Jul. 14, 2011> |
| (3) | “Cases prescribed by Presidential Decree” in the former part of Article 48 (4) of the Act means cases of committing critical illegal acts related to recruitment illegalities, tax evasion, accounting illegalities, unfair transactions, etc., in violation of the Commercial Act, the Criminal Act, the Punishment of Tax Evaders Act, the Framework Act on Local Taxes, the Monopoly Regulation and Fair Trade Act, the Act on the basis of which the relevant public institution is established, or any Act related to the affairs of the relevant public institutions. <Newly Inserted on Sep. 28, 2018> |
| (4) | The Minister of Economy and Finance may, after deliberation and resolution by the Steering Committee, take follow-up measures, such as making suggestions or demands concerning personnel or budgetary actions, or deciding on the piece rate. <Newly Inserted on Jul. 14, 2011; Sep. 28, 2018> |
| Article 28 (Organization and Operation of Management Evaluation Team for Public Enterprises and Quasi-Governmental Institutions) |
| (1) | The Minister of Economy and Finance may occasionally organize and operate the management evaluation team for public enterprises and quasi-governmental institutions (hereinafter referred to as "management evaluation team") pursuant to Article 48 (6) of the Act with the persons commissioned, from among the following persons: <Amended on Feb. 29, 2008; Jul. 14, 2011> |
| 1. | A professor of a college or a university who has expertise in operation and business administration of public institutions; |
| 2. | A person working for a government-funded research institute with a doctor's degree or deemed to have an equivalent qualification; |
| 3. | A certified public accountant, a lawyer, or a specialist in management consulting with an experience of practice for at least five years; |
| 4. | A person recognized otherwise as having good expertise and experience in operation and business administration of public institutions. |
| (2) | The expenses required for the management evaluation team's performance of duties may be reimbursed within the budget. |
| (3) | The management evaluation team shall be deemed to be dissolved when the missions assigned are completed. |
| (4) | Matters necessary for the organization and operation of the management evaluation team, other than the matters prescribed by this Decree, shall be determined by the Minister of Economy and Finance after resolution by the Steering Committee. <Amended on Feb. 29, 2008; Mar. 26, 2010> |
| Article 29 (Monitoring Adequacy of Supervision) |
The Minister of Economy and Finance and the head of the competent agency may monitor the adequacy of the supervision over public enterprises and quasi-governmental institutions and take measures for phased improvement pursuant to Article 51 (4) of the Act, considering the nature, peculiarities of business affairs, etc. of such corporations and institutions. <Amended on Feb. 29, 2008>
| Article 29-2 (Prior Consultations on Funding or Investment) |
| (1) | “Specific cases prescribed by Presidential Decree” in the proviso of Article 51-2 (1) of the Act means where a public enterprise or quasi-governmental institution acquires any stake in another corporation in accordance with any of the following decisions, etc.: |
| 1. | Where a public institution that provides financial services makes an investment in accordance with the following: |
| (c) | A resolution on the adjustment of claims of any council established for having discussions on credit risk assessment and restructuring plans for a company subject to financial restructuring among creditor banks with claims against said company; |
| 2. | Where an investment is made through the deliberation and resolution of a meeting attended by persons in ministerial level positions or above, which serves as a de facto prior consultation with the head of the competent agency and the Minister of Economy and Finance. |
| (2) | If a deliberation and resolution by the board of directors of a public enterprise or quasi-governmental institution is required to establish a funding or investment institution or to fund or invest in another corporation, a prior consultation under Article 51-2 of the Act shall be held before such deliberation and resolution of the board of directors. |
| (3) | If a public enterprise or quasi-governmental institution holds a prior consultation to establish a funding or investment institution or to fund or invest in another corporation under Article 51-2 of the Act, it shall submit a plan that includes the following information to the head of the competent agency and the Minister of Economy and Finance: |
| 1. | Objective of and necessity for the relevant funding or investment; |
| 2. | Scope and content of business engaged in by the corporation subject to the relevant funding or investment; |
| 3. | Amount of and time frame for the relevant funding or investment; |
| 4. | Annual financial plans of the corporation subject to the relevant funding or investment over the last five years or more; |
| 5. | Details of budget support, debt guarantees, loss compensation, etc. provided by the Government or a public institution to the corporation subject to the relevant funding or investment; |
| 6. | Other data requested by the head of the competent agency and the Minister of Economy and Finance. |
[This Article Newly Inserted on Sep. 22, 2016]
| Article 29-3 (Request for Investigation against Persons Committing Irregularities) |
| (1) | "Irregularities prescribed by Presidential Decree, such as financial corruption, sexual crimes, and recruitment irregularities" in the former part of Article 52-3 (2) of the Act means any of the following acts: |
| 1. | Act of illegally giving or receiving or promising to give or receive money, goods, real estate, entertainment or other economic interests in connection with the official duties; |
| 2. | Embezzlement, misappropriation, theft, fraud or appropriation, or appropriation of public funds, property or goods of the relevant public institution; |
| 5. | Acts of significantly impairing the fairness of personnel affairs, which are those of intervening or affecting the personnel affairs such as employment and promotion in violation of any statute or regulation, the articles of incorporation or the bylaw, etc.; |
| (2) | Where the Minister of Economy and Finance or the head of the competent agency requests criminal investigation, or audit and inspection pursuant to Article 52-3 (2) of the Act, he or she shall follow the following divisions. In such cases, he or she consult in advance with the Board of Audit and Inspection if intending to request the Board of Audit and Inspection for audit and inspection pursuant to subparagraph 2: |
| 1. | Where it is deemed necessary to make criminal investigation due to the fact or suspicion of a crime: Requesting a criminal investigation agency for investigation; |
| 2. | Where the Minister of Economy and Finance or the head of the competent agency has an inevitable reason not to directly make inspection, and audit and inspection under the Board of Audit and Inspection Act is deemed necessary: Requesting the Board of Audit and Inspection for audit and inspection; |
| 3. | Where the Minister of Economy and Finance or the head of the competent agency otherwise has an inevitable reason not to directly make inspection; The Minister of Economy and Finance shall request the head of the competent agency for inspection, and vice versa. In such cases, any inspection requested of the Minister of Economy and Finance shall be limited to inspection on personnel affairs under Article 52-6 of the Act. |
| (3) | In cases of requesting a criminal investigation or inspection pursuant to the former part of Article 52-3 (2) of the Act, the Minister of Economy and Finance or the head of the competent agency shall also submit materials on the fact or suspicion of irregularities. |
[This Article Newly Inserted on Sep. 28, 2018]
| Article 29-4 (Disclosure of List of Persons Committing Recruitment Irregularities) |
| (1) | Where the Minister of Economy and Finance or the head of the competent agency discloses the list of persons pursuant to Article 52-4 (1) of the Act, he or she shall disclose the following matters: <Amended on Jun. 8, 2021> |
| 1. | Names, ages and addresses of persons committing recruitment irregularities: In such cases, their detailed addresses under subparagraph 6 of Article 2 of the Road Name Address Act may be omitted; |
| 2. | Names and addresses of public institutions to which persons committing recruitment irregularities belong, and the addresses, duties in charge and positions of such persons at the time they commit such irregularities; |
| 3. | Contents and methods of recruitment irregularities; |
| 4. | Contents of final and decisive judgments of guilt related to recruitment irregularities. |
| (2) | The Minister of Economy and Finance or the head of the competent agency shall, in cases of disclosing the list of persons pursuant to paragraph (1), adopt a manner of publishing it on the website under Article 16 (3) designated by the Minister of Economy and Finance or on the website of the competent agency for one year. |
[This Article Newly Inserted on Sep. 28, 2018]
| Article 29-5 (Guidelines on Requests for Cancellation of Passing of Recruitment Tests of Persons Committing Recruitment Irregularities) |
The guidelines and contents of request for cancellation, etc. of passing of a recruitment test under Article 52-5 (1) of the Act (hereinafter referred as “cancellation, etc. of recruitment decision”) shall be as follows: | 1. | Where any person passes a recruitment test or becomes employed through any recruitment irregularities: Request for cancellation of the recruitment test passing or employment; |
| 2. | Where any person is promoted, changed or transferred to any other position, or dispatched as a result of participating in or aiding the recruitment irregularities: Request for cancellation of such promotion, position change or transfer, or dispatch. In such cases, a disadvantageous personnel action may also be requested, if deemed necessary. |
[This Article Newly Inserted on Sep. 28, 2018]
| Article 29-6 (Explanation Procedure Necessary for Canceling Acceptance of Persons Involved in Recruitment Irregularities) |
| (1) | Where the Steering Committee deliberates and resolves on a request for cancellation, etc. of the test passing pursuant to Article 52-5 (1) of the Act, it shall notify the party concerned with such cancellation of the test passing of the following matters by no later than 10 days before the meeting of the Steering Committee is held. In such cases, such notification shall also be made to the head of the relevant public institution: |
| 1. | Content and ground for the request for cancellation, etc. of acceptance; |
| 4. | Methods of handling the case where no explanation is made; |
| 5. | Other matters requiring explanation. |
| (2) | Where the party concerned receiving the notification under the former part, with the exception of the subparagraphs, of the main clause of paragraph (1) fails to make explanation without good cause, the Steering Committee may make deliberation and resolution without giving an opportunity for explanation to that party. |
| (3) | The Steering Committee may, if deemed necessary, demand the attendance of the related person or the submission of evidence. |
| (4) | After the deliberation and resolution by the Steering Committee concerning a request for cancellation, etc. of the test passing, the Minister of Economy and Finance or the head of the competent agency shall notify the head of the relevant public institution of the result of such deliberation and resolution. |
[This Article Newly Inserted on Sep. 28, 2018]
| Article 29-7 (Inspection on Personnel Affairs) |
| (1) | Inspection on personnel affairs under Article 52-6 (1) of the Act (hereinafter referred to as “inspection on personnel affairs) shall be conducted with respect to any particular matter, such as personnel management in general, recruitment, promotion, and evaluation. |
| (2) | Where the Minister of Economy and Finance conducts inspection on personnel affairs pursuant to Article 52-6 (1) of the Act, Articles 19-21, 23, 23-2, 24-31, 32 (3), 33, 36 (2), and 38 of the Act on Public Inspection, and the Rules of the Board of Audit and Inspection under that Act shall apply mutatis mutandis. In such cases, “the head of a central administrative agency” or “the head of an audit agency”, shall be deemed as “the Minister of Economy and Finance”, and “internal inspection” as “inspection on personnel affairs.” |
| (3) | Where the head of the competent agency conducts inspection on personnel affairs pursuant to Article 52-6 (1) of the Act, the Act on Public Inspection shall apply. |
| (4) | Except as provided in paragraphs (1) through (3), matters necessary for efficiently performing inspection on personnel affairs shall be determined by the Minister of Economy and Finance after deliberation and resolution by the Steering Committee. |
[This Article Newly Inserted on Sep. 28, 2018]
| Article 30 (Execution of Rights of Minority Shareholders) |
[This Article Newly Inserted on Aug. 27, 2013]
| Article 31 (Management of Personally Identifiable Information) |
The Minister of Economy and Finance, the heads of the competent agencies, the heads of public enterprises, and the heads of quasi-governmental institutions may manage data containing resident registration numbers prescribed in subparagraph 1 of Article 19 of the Enforcement Decree of the Personal Information Protection Act, if it is inevitable to verify the grounds for disqualification of the executive officers of public enterprises or quasi-governmental institutions as prescribed in Article 34 of the Act. [This Article Newly Inserted on Aug. 6, 2014]
ADDENDA <Presidential Decree No. 19978, Mar. 27, 2007>
| (1) | (Enforcement Date) This Decree shall enter into force on April 1, 2007. |
| (3) | (Special Cases concerning Criteria of Appointment and Removal of Executive Officers) In applying Articles 21 and 22 to an institution first designated as a public institution pursuant to the Act and this Decree, it shall be deemed that there is no change in the amount of total revenue, the prescribed number of personnel, and the size of assets provided for in Articles 21 and 22 for three years from the date on which this Decree enters into force. |
ADDENDA <Presidential Decree No. 20720, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 8 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. 22088, Mar. 26, 2010>
This Decree shall enter into force on March 30, 2010.
ADDENDUM <Presidential Decree No. 23024, Jul. 14, 2011>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 23221, Oct. 14, 2011>
Article 1 (Enforcement Date)
This Decree shall enter into force on October 15, 2011.
Article 2 Omitted.
ADDENDA <Presidential Decree No. 24441, Mar. 23, 2013>
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. 24697, Aug. 27, 2013>
Article 1 (Enforcement Date)
This Decree shall enter into force on August 29, 2013. (Proviso Omitted.)
Articles 2 through 13 Omitted.
ADDENDUM <Presidential Decree No. 24780, Oct. 2, 2013>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 25279, Mar. 24, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation.
Articles 2 and 3 Omitted.
ADDENDUM <Presidential Decree No. 25532, Aug. 6, 2014>
This Decree shall enter into force on August 7, 2014.
ADDENDA <Presidential Decree No. 25751, Nov. 19, 2014>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation: Provided, That Presidential Decrees amended by Article 5 of the Addenda, which were promulgated before this Decree enters into force and the enforcement dates of which have not arrived yet, shall enter into force on the enforcement date of the respective Decrees. Articles 2 through 5 Omitted.
ADDENDUM <Presidential Decree No. 27073, Mar. 31, 2016>
This Decree shall enter into force on the date of its promulgation.
ADDENDA <Presidential Decree No. 27505, Sep. 22, 2016>
Article 1 (Enforcement Date)
This Decree shall enter into force on September 23, 2016.
Article 2 (Applicability to Preliminary Feasibility Study)
The amended provisions of Article 25-3 shall begin to apply from the first application for a preliminary feasibility study made on or after the date this Decree enters into force.
ADDENDA <Presidential Decree No. 28211, Jul. 26, 2017>
Article 1 (Enforcement Date)
This Decree shall enter into force on the date of its promulgation: Provided, That Presidential Decrees amended by Article 8 of the Addenda, which were promulgated before this Decree enters into force and the enforcement dates of which have not arrived yet, shall enter into force on the enforcement date of the respective Decrees. Articles 2 through 8 Omitted.
ADDENDUM <Presidential Decree No. 28232, Aug. 9, 2017>
This Decree shall enter into force on the date of its promulgation.
ADDENDUM <Presidential Decree No. 29184, Sep. 28, 2018>
This Decree shall enter into force on September 28, 2018.
ADDENDA <Presidential Decree No. 29858, Jun. 18, 2019>
Article 1 (Enforcement Date)
This Decree shall enter into force on July 1, 2019.
Article 2 (Special Cases concerning Annual Reports for Securing Gender Equality)
The goal of gender equality appointment of executive officers for 2019 and the plan for implementing such goal (referring to such goal and plan corresponding to the period from July 1 to December 31, 2019) shall be presented by August 31, 2019, notwithstanding the amendment provisions of Article 20-2 (1), and matters under paragraph (2) 2 of that Article related to such plan shall be reflected in the annual report for 2020.
ADDENDA <Presidential Decree No. 31169, Nov. 24, 2020>
Article 1 (Enforcement Date)
This Decree shall enter into force on January 1, 2021.
Article 2 (Applicability to Organization and Operation of Committee for Recommendation of Executive Officers)
| (1) | The amended provisions of Article 23 (1) (limited to the part regarding the grounds other than the expiration of the term of office of an executive officer) shall begin to apply to a case where there arises a need to appoint a new executive officer on any ground other than the expiration of the term of office of an executive officer after this Decree enters into force. |
| (2) | The amended provisions of Article 23 (2) shall begin to apply to a case where the term of office of an executive officer expires after this Decree enters into force. |
Article 3 Omitted.
ADDENDUM <Presidential Decree No. 31380, Jan. 5, 2021>
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
ADDENDA <Presidential Decree No. 31726, Jun. 8, 2021>
Article 1 (Enforcement Date)
This Decree shall enter into force on June 9, 2021.
Articles 2 through 13 Omitted.
ADDENDUM <Presidential Decree No. 32232, Dec. 21, 2021>
This Decree shall enter into force on January 1, 2022.
ADDENDA <Presidential Decree No. 32449, Feb. 17, 2022>
Article 1 (Enforcement Date)
This Decree shall enter into force on February 18, 2022.
Articles 2 and 3 Omitted.
ADDENDUM <Presidential Decree No. 32832, Aug. 2, 2022>
This Decree shall enter into force on August 4, 2022.