ELECTRONIC TRADE FACILITATION ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to streamline trade procedures, rapidly circulate trade information and reduce time and costs of handling trade business by creating grounds for electronic trade and facilitating the wide use thereof, thereby enhancing the international competitiveness of domestic industries and contributing to the growth of the national economy.

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

Article 2(Definitions) #

The terms used in this Act are defined as follows: <Amended on Jun. 1, 2012>

1. The term "electronic trade" means a transaction in which the whole or any part of the trade under subparagraph 1 of Article 2 of the Foreign Trade Act is handled by means of electronic trade documents;

2. The term "trader" means a person engaged in a trade under subparagraph 3 of Article 2 of the Foreign Trade Act who files an application, report, etc. (hereinafter referred to as "application, etc.") with a trade-related agency in accordance with statutes governing foreign trade, statutes governing foreign exchange transactions, other statutes prescribed by Presidential Decree, and contracts for transportation, insurance, etc. that are concluded between the relevant parties (hereinafter referred to as "trade-related statues, etc.");

3. The term "trade-related agency" means an agency which provides trade-related services specified in trade-related statutes, etc. to traders, or grants authorization, licenses or certification and accepts reports, etc. (hereinafter referred to as "authorization, etc.");

4. The term "electronic trade documents" means electronic documents under subparagraph 1 of Article 2 of the Framework Act on Electronic Documents and Transactions, which are used for electronic trade;

5. The term "electronic trade infrastructure" means an information system that intermediates, keeps and certifies electronic trade documents by systematically interlinking traders with trade-related agencies through information and communications networks.

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

ELECTRONIC TRADE FACILITATION ACT

Article 1(Purpose) #

Article 2(Definitions) #

(Scope of application)

Article 4(Development and implementation of measures to facilitate electronic trade) #

Article 5 #

Article 6(Designation of electronic trade infrastructure business entities) #

Article 7(Grounds for disqualification of electronic trade infrastructure business entities) #

Article 8(Reporting on service charges) #

Article 9 #

Article 10(Corrective orders) #

Article 11(Revocation of designation) #

Article 12(Use of electronic trade infrastructure) #

Article 13(Standardization of electronic trade documents) #

Article 14(Validity of applications or approvals) #

Article 15(Validity of electronic trade documents) #

Article 16(Validity of electronic trade documents kept by electronic trade infrastructure business entities) #

Article 17(Certification of electronic trade documents) #

Article 18(Facilitation of use of electronic trade documents) #

Article 19(Special cases concerning attached documents needed to file applications) #

Article 20(Security of electronic trade documents and trade information) #

Article 21(Disclosure of electronic trade documents and trade information) #

Article 22 #

Article 23 #

Article 24(Facilitating development of electronic trade technology) #

Article 25(Nurture of electronic trade professionals) #

Article 26(Access and inspections) #

Article 27(Hearings) #

Article 28(Delegation of authority) #

Article 29(Legal fiction as public official in application of penalty provisions) #

Article 30(Penalty provisions) #

Article 31(Penalty provisions) #

Article 32(Penalty provisions) #

Article 33(Joint penalty provisions) #