Article 1(Purpose) #
The purpose of this Act is to contribute to the development of the national economy by establishing the Korea Trade-Investment Promotion Agency and having it conduct business concerning the promotion of trade, support for intercorporate investments and industrial and technical cooperation between domestic and foreign enterprises, assistance in attracting overseas experts, assistance to small and medium enterprises in making forays into overseas markets , and export contracts between governments, etc. <Amended on Jan. 21, 2014; Dec. 10, 2019>
[This Article Wholly Amended on Jan. 7, 2009]
Article 2(Legal personality) #
The Korea Trade-Investment Promotion Agency (hereinafter referred to as "KOTRA") shall be a corporation engaging in nonprofit activities.
[This Article Wholly Amended on Jan. 7, 2009]
Article 3(Offices) #
(1) The place where the principal office of KOTRA is to be located shall be prescribed by the articles of association.
(2) Where necessary to conduct its business, KOTRA may establish branch offices, trade pavilions, offices, or assign resident employees to necessary places at home or abroad, following a resolution by the board of directors.
[This Article Wholly Amended on Jan. 7, 2009]
Article 4(Capital) #
(1) KOTRA’s capital shall be 300 billion won. <Amended on Mar. 21, 2017>
(2) KOTRA’s capital shall be comprised of the money invested by the Government and the reserves transferred to capital pursuant to Article 12(3).
[This Article Wholly Amended on Jan. 7, 2009]
Article 5(Registration) #
(1) KOTRA shall be established upon registration for its incorporation at the location of its principal office.
(2) Matters necessary for registration for incorporation of KOTRA pursuant to paragraph (1), registration for the establishment, transfer and change of its branch office or office, and other matters necessary for registration of KOTRA shall be prescribed by Presidential Decree.
(3) Matters requiring registration shall not be asserted by KOTRA against any third person unless they are registered.
[This Article Wholly Amended on Jan. 7, 2009]
Article 6(Prohibition of use of similar title) #
No person other than KOTRA under this Act shall not use the name "Korea Trade-Investment Promotion Agency" or any other name similar thereto.
[This Article Wholly Amended on Jan. 7, 2009]
Article 7(Restrictions on power of representation of president) #
With respect to matters in which the interests of KOTRA conflict with those of its president, the president shall not represent KOTRA, but the auditor shall represent KOTRA.
[This Article Wholly Amended on Jan. 7, 2009]
Article 8(Appointment of proxy) #
The president may appoint, from among the staff, a proxy to perform all judicial or extrajudicial acts as to the business affairs of KOTRA, as prescribed by the articles of association.
[This Article Wholly Amended on Jan. 7, 2009]
Article 9(Prohibition against divulgence of confidential information) #
No person who is or was an executive officer or employee of KOTRA shall divulge to others any confidential information he or she has learned in the course of performing his or her duties, or steal such confidential information.
[This Article Wholly Amended on Jan. 7, 2009]
Article 10(Projects) #
(1) In order to achieve the purposes referred to in Article 1, KOTRA shall conduct the following projects: <Amended on Mar. 30, 2011; Mar. 23, 2013; Jan. 21, 2014; Apr. 17, 2018; Feb. 4, 2020; Oct. 1, 2025>
1. Surveying and tapping into, and collecting information on, overseas markets for the promotion of trade and attraction of foreign investment, and dissemination of findings thereof;
2. Overseas marketing of domestic industries, commodities, and the investment climate for foreigners, and providing support with regard to the enhancement of the national brand;
3. Intermediation of trading and investment cooperation and exchange of industrial technology between domestic and foreign enterprises, and support for international development cooperation under subparagraph 1 of Article 2 of the Framework Act on International Development Cooperation;
4. Holding or participating in or intermediation of participation in expositions or exhibitions related to trade and investment;
5. Exportation or importation prescribed by the Minister of Trade, Industry and Resources;
6. Attraction of foreign investment (including exploitation of overseas resources and energy) and support for overseas investment by domestic enterprises;
7. Assistance in attracting overseas experts to enhance the country’s international competitiveness and assistance to domestic experts with respect to starting a business overseas and landing an overseas job;
8. The following projects related to exports of defense materials, etc. defined in Article 2(1)1 of the Defense Industry Development and Support Act (hereinafter referred to as "defense materials, etc."):
a. Assumption of the status of the party on behalf of a domestic enterprise when concluding a contract concerning the export of defense materials, etc. with the government of purchasing state;
b. Preparation of a draft packaged negotiation associating defense materials, etc. with industry, resources and investment cooperation, and establishment of a financial support scheme;
c. Other projects which the Minister of Trade, Industry and Resources and the Administrator of the Defense Acquisition Program Administration deem necessary to support the trading of defense materials, etc.;
9. Projects relating to export contracts between governments under Article 32-3(2) of the Foreign Trade Act;
Article 11(Liability for expenses and fees) #
KOTRA may have beneficiaries bear the expenses and fees incurred in conducting the activities referred to in the subparagraphs of Article 10(1). <Amended on Mar. 30, 2011>
[This Article Wholly Amended on Jan. 7, 2009]
Article 12(Disposal of profit and loss) #
(1) When KOTRA has realized a profit as a result of settling the accounts for a business year, it shall dispose of the profit in the following order: <Amended on May 23, 2012>
1. Making up any deficit brought forward;
2. Accumulation of an earned surplus reserve of at least 2/10 of the profit, until it reaches an amount equal to capital;
3. Accumulation of a reserve, other than an earned surplus reserve, pursuant to subparagraph 2;
4. Payment to the national treasury.
(2) When KOTRA has sustained a loss after settlement of its accounts for a business year, it shall make up the loss with a reserve pursuant to paragraph (1)3, and if the reserve is insufficient to make up the loss, it shall make up the loss with earned surplus reserve pursuant to paragraph (1)2, and the Government may make up a shortage which occurs despite KOTRA having made up the loss.
(3) Reserves pursuant to paragraph (1)2 and 3 may be transferred to capital, as prescribed by Presidential Decree.
[This Article Wholly Amended on Jan. 7, 2009]
Article 12-2(Maintenance of financial soundness) #
KOTRA shall endeavor to maintain its financial soundness.
[This Article Added on Dec. 10, 2019]
Article 13(Subsidies) #
The Government may grant subsidies to projects pushed by KOTRA within the budget.
[This Article Wholly Amended on Jan. 7, 2009]
Article 14(Supervision) #
(1) The Minister of Trade, Industry and Resources shall guide and supervise matters referred to in the following subparagraphs among the business affairs of KOTRA and affairs related to such matters: <Amended on Mar. 23, 2013; Oct. 1, 2025>
1. Projects implemented by KOTRA pursuant to Article 10;
2. Projects entrusted by the Minister of Trade, Industry and Resources.
(2) The Minister of Trade, Industry and Resources may have KOTRA submit reports and materials to the minimum extent necessary for the formulation of trading policies. <Amended on Mar. 23, 2013; Oct. 1, 2025>
[This Article Wholly Amended on Jan. 7, 2009]
Article 15(Relationship to other statutes) #
The Act on the Management of Public Institutions shall apply to matters concerning the organization, management, etc. of KOTRA not prescribed in this Act.
[This Article Wholly Amended on Jan. 7, 2009]
Article 16(Penalty provisions) #
Any person who divulges confidential information or steals such confidential information 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.
[This Article Wholly Amended on Mar. 30, 2011]
Article 17(Administrative fines) #
(1) Any person who uses the name "Korea Trade-Investment Promotion Agency" or any other name similar thereto in violation of Article 6 shall be subject to an administrative fine not exceeding 10 million won.
(2) Fines for negligence referred to in paragraph (1) shall be imposed and collected by the Minister of Trade, Industry and Resources. <Amended on Mar. 23, 2013; Oct. 1, 2025>
[This Article Added on Mar. 30, 2011]