Act on Special Measures for the Deregulation of Corporate Activities

By KOREAN LAW CENTER

For foreign companies or individuals who want to trade with Korea
In order to help you, we introduce our law to help you
We want to help you minimize trial and error.
In addition We want to help people who study the legal systems of countries around the world.

(PS) We plan to upload the enforcement ordinance of the relevant law as soon as possible.
thank you.

• Language: English
• Publisher: KOREAN LAW CENTER
• Release date: Sep 5, 2022
• ISBN: 9788967843786

Book preview

1666156930184_0

The code of KOREAN LAW 9

ACT ON SPECIAL MEASURES FOR THE DEREGULATION OF CORPORATE ACTIVITIES

Park, Hwiyong

ACT ON SPECIAL MEASURES FOR THE DEREGULATION OF CORPORATE ACTIVITIES

[Enforcement Date 01. Apr, 2021.] [Act No.17171, 31. Mar, 2020., Amendment by Other Act]

CHAPTER I GENERAL PROVISIONS

Article 1 (Purpose)

T

he purpose of this Act is to endeavor to create harmonious corporate activities and contribute to the sound development of the national economy by providing matters concerning administrative deregulation of corporate activities and special cases.

[This Article Wholly Amended on Apr. 14, 2011]

Article 2 (Definitions)

T

he terms used in this Act are defined as follows:  

1. The term corporate activity means any conduct that a corporation or an individual engages in continuously and repeatedly for making profits, and the attendant conduct thereof;

2. The term administrative regulation means that the State, a local government, or a corporation, an organization or an individual exercising the administrative power or delegated or entrusted with it under statutes or regulations intervenes directly or indirectly in corporate activities for the purpose of achieving specific administrative objectives;

3. The term factory means a factory under subparagraph 1 of Article 2 of the Industrial Cluster Development and Factory Establishment Act;

4. The term industrial complex means an industrial complex under subparagraph 8 of Article 2 of the Industrial Sites and Development Act;

5. The term small or medium entrepreneur means a small or medium entrepreneur under Article 2 of the Framework Act on Small and Medium Enterprises.

[This Article Wholly Amended on Apr. 14, 2011]

Article 3 (Relationship to Other Statutes or Regulations)

T

his Act shall apply in preference to other statutes or regulations (excluding the Framework Act on Administrative Regulations) which provide administrative regulations: Provided, That where the provisions of regulation thereof become more lenient than the provisions of administrative regulations mitigated under this Act on account of the amendment of other statutes or regulations, the provisions of the other statutes or regulations shall apply.

[This Article Wholly Amended on Apr. 14, 2011]

Article 3-2 (Responsibilities)

I

n order to address difficulties experienced by enterprises due to various administrative regulations, the Minister of Trade, Industry and Energy shall endeavor to investigate the actual situation thereof, collect the opinions of interested parties and other experts, etc.  

[This Article Wholly Amended on Apr. 14, 2011]

CHAPTER II DEREGULATION ON ESTABLISHMENT OF BUSINESS AND FACTORY

Article 4 (Consolidated Public Notice of Various Authorization or Permission concerning Establishment of Business)

(1) The head of a relevant administrative agency having authority regarding authorization, permission, registration, reporting, approval, etc. for manufacturing business and service business related to manufacturing prescribed by Presidential Decree shall inform the Minister of Trade, Industry and Energy of the processing criteria, procedures, etc. without delay after such criteria, procedures, etc. are established. The same shall also apply when they are modified.  

(2) Where the Minister of Trade, Industry and Energy has been informed of the processing criteria, procedures, etc. pursuant to paragraph (1) , he or she shall consolidate them and publicly notify the same. The foregoing shall also apply when a matter publicly notified is modified.  

[This Article Wholly Amended on Apr. 14, 2011]

Article 5 – 7 Deleted.  

Article 8 (Public Notice of Criteria for Authorization or Permission in Relation to Approval for Factory Construction)

(1) The head of an administrative agency having authority regarding reporting, permission, cancellation, authorization, licensing, designation, consent, decision, etc. prescribed by subparagraphs of Article 13-2 (1) and (3) of the Industrial Cluster Development and