KOREA EXPRESSWAY CORPORATION ACT
Wholly Amended by Act No. 3842, May 12, 1986
Amended by Act No. 4306, Dec. 31, 1990
Act No. 4564, jun. 11, 1993
Act No. 5361, Aug. 22, 1997
Act No. 6168, Jan. 12, 2000
Act No. 6336, Dec. 30, 2000
Act No. 6403, Jan. 29, 2001
Act No. 6656, Feb. 4, 2002
Act No. 7241, Oct. 22, 2004
Act No. 8852, Feb. 29, 2008
Act No. 8976, Mar. 21, 2008
Act No. 9401, Jan. 30, 2009
Act No. 9390, Jan. 30, 2009
Act No. 9618, Apr. 1, 2009
Act No. 9634, Apr. 22, 2009
Act No. 11063, Sep. 16, 2011
Act No. 11690, Mar. 23, 2013
Act No. 11965, Jul. 30, 2013
Act No. 12248, Jan. 14, 2014
Act No. 12651, May 21, 2014
Act No. 12663, May 21, 2014
Act No. 13690, Dec. 29, 2015
Act No. 16633, Nov. 26, 2019
Act No. 16952, Feb. 4, 2020
Act No. 17453, jun. 9, 2020
Act No. 18951, jun. 10, 2022
Act No. 20124, Jan. 23, 2024
The purpose of this Act is to facilitate the maintenance of roads and contribute to the development of road transportation by establishing the Korea Expressway Corporation to install and manage roads and conduct other related projects.
[This Article Wholly Amended on Jan. 30, 2009]
| Article 2 (Legal Personality) |
The Korea Expressway Corporation (hereinafter referred to as the "Corporation") shall be a corporation.
[This Article Wholly Amended on Jan. 30, 2009]
| (1) | The location of the main office of the Corporation shall be prescribed by its articles of incorporation. |
| (2) | The Corporation may establish branches or offices wherever necessary to conduct its duties, after resolution by the board of directors. |
[This Article Wholly Amended on Jan. 30, 2009]
| (1) | The capital of the Corporation shall be 50 trillion won. <Amended on Sep. 16, 2011; Dec. 29, 2015; Feb. 4, 2020; Jun. 10, 2022> |
| (2) | The capital under paragraph (1) shall be contributed by the State, local governments, or the Korea Development Bank under the Korea Development Bank Act, but if necessary, shareholders may be recruited to the extent not exceeding 1/2 of the capital as prescribed by the articles of incorporation. <Amended on Apr. 1, 2009; May 21, 2014> |
| (3) | The capital of the Corporation shall be divided into shares. |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 5 (Issuance of Shares) |
The types of the shares to be issued by the Corporation, par value per share, the time of issuance of shares, the total number of shares to be issued, and the amount, time, and method of payment of share capital shall be prescribed by Presidential Decree: Provided, That if the Government contributes capital, the time and method of payment shall be determined by the Minister of Economy and Finance.
[This Article Wholly Amended on Jan. 30, 2009]
| Article 6 (Contribution of Toll Road Management Rights) |
| (1) | The State may contribute the toll road management rights to the Corporation. |
| (2) | Where the toll road management rights are contributed to the Corporation pursuant to paragraph (1), Article 61 of the State Property Act shall apply mutatis mutandis, and the value of the contribution shall be the value of the investment made by the State in the construction or renovation of the relevant toll road. <Amended on Jan. 30, 2009> |
[This Article Wholly Amended on Jan. 30, 2009]
| (1) | The Corporation shall be established at the time it registers such establishment at the location of its main office. |
| (2) | Matters necessary for the registration of establishment under paragraph (1) and the registration of establishment, transfer, and change of branches or offices, and other matters necessary for the registration of the Corporation shall be prescribed by Presidential Decree. |
| (3) | The Corporation shall have no valid right or defense against a third party with regard to any matter required to be registered, unless such matter has been registered. <Amended on Jun. 9, 2020> |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 8 (Prohibition of Use of Similar Name) |
No person, other than the Corporation under this Act, shall use the name Korea Expressway Corporation or any similar name.
[This Article Wholly Amended on Jan. 30, 2009]
| Article 9 (Prohibition against Divulging Confidential Information) |
No executive officer or employee or no former executive officer or employee of the Corporation shall divulge or steal confidential information learned in the course of his or her duties.
[This Article Wholly Amended on Jan. 30, 2009]
| Article 10 Deleted. <Jan. 30, 2009> |
| Article 11 (Appointment of Representative) |
As prescribed by the articles of incorporation, the CEO may designate a representative from among the employees, who shall be authorized to perform all acts, judicial or extrajudicial, in connection with the duties of the Corporation.
[This Article Wholly Amended on Jan. 30, 2009]
| (1) | The Corporation shall perform the following duties to accomplish the purpose set forth in Article 1: <Amended on Sep. 16, 2011; Jul. 30, 2013; Jan. 23, 2024> |
| 1. | Implementation and management of works on the construction, reconstruction, maintenance, and repair of toll roads; |
| 2. | Implementation and management of works on the construction, reconstruction, maintenance, and repair of roads (including passageways connecting to toll roads) that are particularly necessary to promote the use of toll roads; |
| 3. | Implementation and management of works on the construction, reconstruction, maintenance, and repair of national expressways determined to be toll roads; |
| 4. | Installation and management of toll parking lots; |
| 5. | Installation and management of rest areas and gas stations along toll roads; |
| 6. | Acquisition and management of real estate required for road projects; |
| 7. | Implementation of such works on the construction, reconstruction, maintenance, and repair of roads, as entrusted by the State, local governments, or other persons, and investigation, surveying, design, testing, and research for the work; |
| 8. | Overseas road construction, maintenance, survey and design, and construction supervision; |
| 9. | Such management of toll roads, toll parking lots, and other facilities related thereto, as entrusted by the State, local governments, or other persons; |
| 9-2. | Installation, operation, and management of the following facilities utilizing the sites and facilities managed by the Corporation pursuant to subparagraphs 1 through 6 and 9: |
| 10. | Projects using the sites and facilities of roads to enhance the utility of toll roads; |
| 11. | Development projects to enhance the utility of toll roads and improve the convenience of users, such as the installation of cargo distribution and storage facilities in areas connected to toll roads; |
| 12. | Research and technology development on toll roads; |
| 13. | Investments and contributions to projects related to the duties of the Corporation; |
| 14. | Duties incidental to the duties under subparagraphs 1 through 9, 9-2, and 10 through 13; |
| 15. | Duties that the Corporation can perform pursuant to other statutes. |
| (2) | The Corporation shall obtain approval from the Minister of Land, Infrastructure and Transport to conduct development projects in the areas connected to roads under paragraph (1) 11. <Amended on Mar. 23, 2013> |
| (3) | The specific scope of the duties that can be performed by the Corporation pursuant to paragraph (1) 9-2 and 10 through 13 and the scope of the areas connected to toll roads shall be prescribed by Presidential Decree. <Amended on Sep. 16, 2011> |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 12-2 (Entrustment of Duties) |
| (1) | The Corporation may entrust part of the duties under the subparagraphs of Article 12 (1) to those whom the Corporation has made investment in or contributions to, with approval from the Minister of Land, Infrastructure and Transport. <Amended on Mar. 23, 2013> |
| (2) | Where the Corporation has entrusted the duties pursuant to paragraph (1), it may pay necessary fees to those who perform the duties, as prescribed by Presidential Decree. |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 13 (Special Exceptions for the Road Act) |
| (1) | Notwithstanding Article 31 (1) of the Road Act, the Minister of Land, Infrastructure and Transport may authorize the Corporation to implement and manage at its expense works on the construction, reconstruction, maintenance, and repair of roads determined to be toll roads, as prescribed by Presidential Decree. <Amended on Mar. 23, 2013; Jan. 14, 2014> |
| (2) | Where Article 16 (4) of the Toll Road Act is applied when the Corporation collects tolls for a road the works of which was implemented and managed by the Corporation pursuant to paragraph (1) after such road becomes a toll road, the cost of implementing and managing the works on the toll road borne by the Corporation shall be regarded as the total construction and maintenance cost of the toll road (including a national budget prescribed by Presidential Decree in order for a toll road management agency to compensate for losses or a reserve for compensating for losses appropriated in the special account of a local government pursuant to Article 24 (1) of the Toll Road Act). <Amended on Nov. 26, 2019> |
| (3) | Where the Corporation implements and manages works pursuant to paragraph (1), the Minister of Land, Infrastructure and Transport may authorize the Corporation to assume the authority of a road management authority under the Road Act as prescribed by Presidential Decree. <Amended on Mar. 23, 2013; Jan. 14, 2014> |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 13-2 (Entrustment of Authority for Vicarious Execution) |
When the Corporation conducts projects related to the construction and management of toll roads, the head of a central administrative agency or the head of a local government may entrust the following authority to the Corporation, as prescribed by Presidential Decree: <Amended on Jan. 30, 2009; Sep. 16, 2011>
[This Article Wholly Amended on Jan. 30, 2009]
| Article 13-3 (Legal Fiction as Public Officials for Purposes of Applying Penalty Provisions) |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 14 (Disposition of Profit and Loss) |
| (1) | When the Corporation realizes profits upon the settlement of accounts of each business year, it shall dispose of such profits in the following order: <Amended on Sep. 16, 2011> |
| 1. | Covering any deficit brought forward; |
| 2. | Accumulating not less than 2/10 of the profits as earned surplus reserves until they reach an amount 1/2 of capital; |
| 3. | Paying dividends to shareholders; |
| 4. | Accumulating as business expansion reserves. |
| (2) | If there is a loss as a result of settlement of accounts each business year, the Corporation shall compensate for it with the business expansion reserve under paragraph (1) 4, and if that reserve is insufficient, the Corporation shall compensate for it with the earned surplus reserve under paragraph (1) 2, but if there is a loss still remaining after such compensation, that amount shall be carried forward to the next business year. <Amended on Sep. 16, 2011> |
| (3) | The earned surplus reserve under paragraph (1) 2 may be transferred to the capital, and matters concerning such transfer and the use of the business expansion reserve under paragraph (1) 4, except for the cases under paragraph (2), shall be prescribed by Presidential Decree. <Amended on Sep. 16, 2011> |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 15 (Issuance of Corporate Bonds) |
| (1) | The Corporation may issue corporate bonds or make loans up to the limit not exceeding four times the sum of its capital and reserves after resolution by the board of directors. |
| (2) | When the Corporation issues corporate bonds or make loans pursuant to paragraph (1), the Government may guarantee the repayment of the principal and interest. |
| (3) | Where the budget is finalized pursuant to Article 40 (4) of the Act on the Management of Public Institutions, the Corporation shall, within two months, formulate an operation plan for the corporate bond issuance and loan for the relevant year, including the purpose, scale, and use of corporate bond issuance and loan, and shall obtain approval from the Minister of Land, Infrastructure and Transport after resolution by the board of directors. The same shall also apply to any modification of an approved operation plan. <Amended on Mar. 23, 2013; Feb. 4, 2020> |
[This Article Wholly Amended on Jan. 30, 2009]
| (1) | The State may subsidize or finance part of the expenses necessary for the duties of the Corporation within the budget and may acquire the corporate bonds as prescribed by Presidential Decree. |
| (2) | Where allowing the Corporation to exercise part of the authority of the Minister of Land, Infrastructure and Transport to manage a national expressway for which tolls are not collected pursuant to Article 112 (1) of the Road Act, the State shall pay to the Corporation the costs of reconstruction, repair, maintenance, and management of the national expressway as prescribed by Presidential Decree. <Amended on Mar. 23, 2013; Jan. 14, 2014> |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 16-2 (Bearing of Public Service Costs) |
| (1) | The costs incurred by the Corporation in providing public services (hereinafter referred to as "public service costs") may be borne in whole or in part by the State or a person who directly requested the public services (hereinafter referred to as "requester"), as prescribed by Presidential Decree. |
| (2) | "Public services" in paragraph (1) means toll reductions, etc. provided by the Corporation for national policy or public purposes regardless of its business activities for profit. |
| (3) | Public service costs borne by a requester shall range as follows: |
| 1. | In cases where the Corporation reduces the toll of a national expressway in accordance with other statutes and regulations or for national policy or public purpose, the amount of the reduction; |
| 2. | Costs incurred by the Corporation in conducting a special purpose project of the State. |
[This Article Newly Inserted on Apr. 22, 2009]
| Article 16-3 (Entering into Compensation Contract for Providing Public Services) |
| (1) | Where bearing public service costs pursuant to Article 16-2 (1), a requester shall enter into a contract with the Corporation for compensation for public service costs (hereinafter referred to as "compensation contract"). |
| (2) | A compensation contract shall include the following: |
| 1. | Standards and details of public services provided by the Corporation; |
| 2. | Details and methods, etc. of compensation to be borne by a requester in connection with the provision of public services; |
| 3. | The term of the contract, modification and renewal of the term of the contract, and termination of the contract; |
| 4. | Other matters agreed to by the Corporation and a requester as necessary. |
| (3) | Before entering into a compensation contract with the Corporation, a requester shall consult with the Minister of Land, Infrastructure and Transport and the Minister of Economy and Finance in advance regarding the details of the contract. <Amended on Mar. 23, 2013> |
| (4) | When necessary to secure the objectivity and fairness of public service costs, the Minister of Land, Infrastructure and Transport may designate a specialized institution in charge of calculating and evaluating public service costs. In such cases, matters necessary for designating a specialized institution shall be prescribed by Ordinance of the Ministry of Land, Infrastructure and Transport. <Amended on Mar. 23, 2013> |
| (5) | If a requester and the Corporation fail to reach an agreement in concluding a compensation contract, mediation may be conducted by a deliberative body established as prescribed by Presidential Decree upon request of the requester or the Corporation. |
[This Article Newly Inserted on Apr. 22, 2009]
| Article 16-4 (Approval for Restrictions on Public Services) |
| (1) | The Corporation may take necessary measures such as restricting or suspending public services with approval from the Minister of Land, Infrastructure and Transport, in any of the following cases: <Amended on Mar. 23, 2013> |
| 1. | Where adequate compensation for public service costs is not made despite a compensation contract concluded under Article 16-3; |
| 2. | Where a requester fails to bear public service costs; |
| 3. | Where a requester fails to comply with mediation by the deliberative body under Article 16-3 (5). |
| (2) | The Corporation shall submit an application for approval to the Minister of Land, Infrastructure and Transport containing the following: <Amended on Mar. 23, 2013> |
| 1. | Details of the public services intended for the restriction or suspension; |
| 2. | Matters concerning the costs to be borne by a requester if the public services should continue to be provided; |
| 3. | Other matters related to the restriction or suspension of the public services. |
| (3) | Where an application for approval is submitted pursuant to paragraph (2), the Minister of Land, Infrastructure and Transport shall decide whether or not to approve it after consultation with a requester and the head of the relevant administrative agency and deliberation by the deliberative body under Article 16-3 (5) and shall notify the Corporation of the result. In such cases, where a decision is made to grant approval, a public announcement of such fact shall be made in the Official Gazette. <Amended on Mar. 23, 2013> |
[This Article Newly Inserted on Apr. 22, 2009]
| Article 16-5 (Limitations on Approval) |
| (1) | Even in cases falling under any of the subparagraphs of Article 16-4 (1), the Minister of Land, Infrastructure and Transport need not grant approval under Article 16-4 (3) if he or she deems that measures such as restricting public services pursuant to Article 16-4 significantly impede the public interest. <Amended on Mar. 23, 2013> |
| (2) | Where the Corporation suffers a significant operating loss due to the failure to grant approval pursuant to paragraph (1), the Minister of Land, Infrastructure and Transport may compensate for the loss. <Amended on Mar. 23, 2013> |
[This Article Newly Inserted on Apr. 22, 2009]
The Minister of Land, Infrastructure and Transport shall provide guidance on and supervision over the following matters among the duties of the Corporation: <Amended on Mar. 23, 2013>
| 1. | Business performance and settlement of accounts; |
| 2. | Proper performance of the duties under Article 12; |
| 3. | Projects entrusted to the Corporation by the Minister of Land, Infrastructure and Transport pursuant to this Act; |
| 4. | Other matters prescribed by relevant statutes and regulations. |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 18 (Requests for Materials) |
| (1) | The Corporation may request materials deemed necessary for its duties from related administrative agencies or other related parties. <Amended on May 21, 2014; Jun. 9, 2020> |
| (2) | A person requested to provide materials pursuant to paragraph (1) shall comply with the request unless there is a compelling reason not to do so. <Newly Inserted on May 21, 2014> |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 19 (Relationship to Other Statutes) |
[This Article Wholly Amended on Jan. 30, 2009]
| Article 20 (Penalty Provisions) |
Any of the following persons in violation of Article 9 shall be punished by imprisonment with labor for not more than two years, or by a fine not exceeding 20 million won: <Amended on May 21, 2014> [This Article Wholly Amended on Jan. 30, 2009]
| Article 21 (Administrative Fines) |
| (1) | A person who violates Article 8 shall be subject to an administrative fine not exceeding five million won. <Amended on May 21, 2014> |
| (2) | Administrative fines under paragraph (1) shall be imposed and collected by the Minister of Land, Infrastructure and Transport. <Amended on Mar. 23, 2013> |
[This Article Wholly Amended on Jan. 30, 2009]
ADDENDUM <Act No. 3842, May 12, 1986>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 4306, Dec. 31, 1990>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 4564, Jun. 11, 1993>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 5361, Aug. 22, 1997>
This Act shall enter into force on January 1, 1998.
ADDENDUM <Act No. 6168, Jan. 12, 2000>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 6336, Dec. 30, 2000>
This Act shall enter into force on January 1, 2001.
ADDENDA <Act No. 6403, Jan. 29, 2001>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation.
Articles 2 through 7 Omitted.
ADDENDA <Act No. 6656, Feb. 4, 2002>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2003.
Articles 2 through 13 Omitted.
ADDENDUM <Act No. 7241, Oct. 22, 2004>
This Act shall enter into force 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. 8976, Mar. 21, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 10 Omitted.
ADDENDUM <Act No. 9390, Jan. 30, 2009>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 9401, Jan. 30, 2009>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation. (Proviso Omitted.)
Articles 2 through 11 Omitted.
ADDENDA <Act No. 9618, Apr. 1, 2009>
Article 1 (Enforcement Date)
This Act shall enter into force on June 1, 2009. (Proviso Omitted.)
Articles 2 through 6 Omitted.
ADDENDUM <Act No. 9634, Apr. 22, 2009>
This Act shall enter into force three months after the date of its promulgation.
ADDENDUM <Act No. 11063, Sep. 16, 2011>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 11690, Mar. 23, 2013>
Article 1 (Enforcement Date)
| (1) | This Act shall enter into force on the date of its promulgation. (2) Omitted. |
Articles 2 through 7 Omitted.
ADDENDA <Act No. 11965, Jul. 30, 2013>
Article 1 (Enforcement Date)
This Act shall enter into force three months after the date of its promulgation. (Proviso Omitted.)
Article 2 Omitted.
Article 3 Omitted.
Article 4 Omitted.
ADDENDA <Act No. 12248, Jan. 14, 2014>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation.
Articles 2 through 25 Omitted.
ADDENDUM <Act No. 12651, May 21, 2014>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 12663, May 21, 2014>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of the registration of merger under Article 4 (6) of the Addenda. (Proviso Omitted.) Articles 2 through 12 Omitted.
ADDENDUM <Act No. 13690, Dec. 29, 2015>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 16633, Nov. 26, 2019>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Act No. 16952, Feb. 4, 2020>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 17453, Jun. 9, 2020>
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
ADDENDUM <Act No. 18951, Jun. 10, 2022>
This Act shall enter into force on the date of its promulgation.
ADDENDUM <Act No. 20124, Jan. 23, 2024>
This Act shall enter into force on the date of its promulgation.