OVERSEAS CONSTRUCTION PROMOTION ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to contribute to the development of the overseas construction industry and improvement of the balance of international payments by prescribing matters necessary for the promotion of overseas construction, such as declaration of overseas construction business and assistance of overseas works.

[This Article Wholly Amended on Aug. 4, 2011]

Article 2(Definitions) #

The terms used in this Act are defined as follows: <Amended on Aug. 11, 2015; Oct. 24, 2017; Apr. 30, 2019>

1. The term "overseas works" means overseas construction works, overseas construction engineering activities, and overseas infrastructure and urban development projects;

2. The term "overseas construction works" means works performed overseas, such as civil engineering works, architectural works, industrial facilities and equipment works, landscaping works, electric works, information and telecommunications works, and other similar works prescribed by Presidential Decree;

3. The term "overseas construction engineering activities" means planning, feasibility studies, designing, analysis, purchase, procurement, testing, supervision, test operation, evaluation, counseling and advising concerning overseas construction works, and other similar activities prescribed by Presidential Decree;

3-2. The term "overseas infrastructure and urban development project" means any of the following projects performed overseas:

a. Projects of developing infrastructure defined in subparagraph 1 of Article 2 of the Act on Public-Private Partnerships in Infrastructure, and an urban development project defined in Article 2(1)2 of the Urban Development Act;

b. Other projects specified by the Minister of Land, Infrastructure and Transport in relation to item a;

4. The term "overseas construction business" means the business of performing overseas construction works or overseas construction engineering activities;

5. The term "overseas construction business operator" means any individual or corporation who operates overseas construction business directly or through its local subsidiary after making a declaration of overseas construction business;

OVERSEAS CONSTRUCTION PROMOTION ACT

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Relationship to other statutes) #

Article 4(Assistance to overseas construction business operators) #

Article 5(Formulation of master plans to promote overseas construction) #

Article 6(Declarations of overseas construction business) #

Article 7 #

Article 8 #

Article 9 #

Article 10(Declarations of establishment of local subsidiaries) #

Article 11 #

Article 12 #

Article 13(Notification of status of overseas works) #

Article 14 #

Article 15 #

Article 15-2(Assistance for small and medium construction business operators for overseas works) #

Article 15-3 #

Article 15-4(Assistance in overseas construction policies and research and development) #

Article 15-5(Assistance in international cooperation related to overseas works) #

Article 15-6(Financial counselling) #

Article 15-7(Establishment of information system) #

Article 16(Designation of exemplary overseas construction business operators) #

Article 17(Recommendation of joint solicitation of contracts and undertaking works) #

Article 17-2(Investment of public institutions in overseas works) #

Article 17-3(Overseas construction promotion committee) #

Article 18(Development of technology) #

Article 18-2(Nurturing and management of overseas construction personnel) #

Article 18-3(Installation of emergency medical facilities) #

Article 19(Objectives for establishing collective investment scheme for overseas construction) #

Article 19-2(Consultation on registration of collective investment schemes for overseas construction) #

Article 19-3(Duration of existence) #

Article 19-4(Supervision and inspection of collective investment schemes for overseas construction) #

Article 19-5(Special provisions on collective investment business) #

Article 19-6(Scope of asset management) #

Article 19-7(Borrowing of funds) #

Article 20 #

Article 21 #

Article 22 #

Article 23(Establishment of international contractors association of Korea) #

Article 23-2(Authorization for establishment of association) #

Article 24(Functions of association) #

Article 25(General assembly) #

Article 26(Executive officers of association) #

Article 27(Guidance and supervision) #

Article 28(Application mutatis mutandis of Civil Act) #

Article 28-2(Establishment) #

Article 28-3(Office) #

Article 28-4(Capital) #

Article 28-5(Registration of incorporation and article of incorporation) #

Article 28-6(Prohibition on use of similar names) #

Article 28-7(Steering committee) #

Article 28-8(Composition of steering committee) #

Article 28-9(Operation of steering committee) #

Article 28-10(Executive officers and employees) #

Article 28-11(Board of directors) #

Article 28-12(Grounds for disqualification of executive officers and employees) #

Article 28-13(Dispatch of public officials) #

Article 28-14(Appointment of agent) #

Article 28-15(Prohibition on divulgence of confidential information) #

Article 28-16(Duties) #

Article 28-17(Finance and accounting) #

Article 28-18(Borrowings) #

Article 28-19(Issuance of overseas infrastructure and urban development bonds) #

Article 28-20(Guidance and supervision) #

Article 28-21(Reporting and inspection) #

Article 28-22(Submission of operational plans) #

Article 29 #

Article 30 #

Article 31 #

Article 32 #

Article 33(Substitute performance of works) #

Article 34(Delegation of authority) #

Article 34-2(Legal fiction as public official in application of penalty provisions) #

Article 35 #

Article 36 #

Article 37(Penalty provisions) #

Article 38(Penalty provisions) #

Article 39(Penalty provisions) #

Article 40(Joint penalty provisions) #