KOREA TECHNOLOGY FINANCE CORPORATION ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to facilitate the financing of new technology business by stabilizing and developing technology guarantee systems through the establishment of the Korea Technology Finance Corporation, and to further contribute to balanced regional development and the balanced development of the national economy. <Amended on Mar. 29, 2016; Oct. 19, 2021>

[This Article Wholly Amended on May 19, 2011]

Article 2(Definitions) #

The terms used in this Act are defined as follows: <Amended on Mar. 21, 2012; Mar. 29, 2016; Aug. 20, 2019; Oct. 19, 2021; Oct. 18, 2022>

1. The term "new technology enterprise" means a small and medium enterprise (referring to a small and medium enterprise under Article 2 of the Framework Act on Small and Medium Enterprises; hereinafter the same shall apply) and an enterprise prescribed by Presidential Decree which develop technologies or commercialize such technologies by applying them, and an industrial technology research cooperative established under the Act on the Support of Industrial Technology Research Cooperatives;

2. The term "enterprise" means an individual or juristic person who runs a business, and an organization formed by such individuals or juristic persons;

3. The term "financial company" means any of the following institutions:

a. A bank under Article 2(1)2 of the Banking Act;

b. The Korea Development Bank under the Korea Development Bank Act;

c. Industrial Bank of Korea under the Industrial Bank of Korea Act;

d. The Export-Import Bank of Korea under the Export-Import Bank of Korea Act;

e. A truster under the Financial Investment Services and Capital Markets Act;

f. The NongHyup Bank under Article 161-11 of the Agricultural Cooperatives Act;

g. The Suhyup Bank under Article 141-4 of the Fisheries Cooperatives Act;

h. Others prescribed by Presidential Decree, who run the business of financing enterprises;

KOREA TECHNOLOGY FINANCE CORPORATION ACT

Article 1(Purpose) #

Article 2(Definitions) #

Article 3 #

Article 4 #

Article 5 #

Article 6 #

Article 7 #

Article 8 #

Article 9 #

Article 10 #

Article 11 #

Article 12(Establishment of corporation) #

Article 13(Acquisition of fundamental property) #

Article 14(Head office, branches, sub-branches, and agencies) #

Article 15(Articles of incorporation) #

Article 16(Registration) #

Article 17(Establishment of Management Committee) #

Article 18(Board of directors) #

Article 19(Executive officers) #

Article 20(Executive officers' duties) #

Article 21(Appointment of executive officers) #

Article 22(Term of office of executive officers) #

Article 23(Dismissal of executive officers) #

Article 24(Obligation of prohibition of concurrent office) #

Article 25(Legal fiction as public officials in application of the Criminal Act) #

Article 26(Appointment of representative) #

Article 27(Appointment and dismissal of employees) #

Article 28(Business of corporation) #

Article 28-2(Re-guarantee) #

Article 28-3(Guarantee for special purpose companies) #

Article 28-4(Guarantee-linked investment) #

Article 29(Business manual) #

Article 30(Criteria of guarantee) #

Article 31(Ceiling of guarantee) #

Article 32(Business plans) #

Article 33(Guarantee fees) #

Article 33-2(Fees) #

Article 34(Penalties) #

Article 35(Formation of guarantee relationship) #

Article 36(Discharge of guaranteed liabilities) #

Article 37(Exercise of right to indemnity) #

Article 37-2(Disposal of claims for indemnity) #

Article 37-3(Reduction or exemption of jointly and severally guaranteed debt) #

Article 38(Creditors' duties) #

Article 39(Prohibition of guarantee) #

Article 40(Accounting principles) #

Article 41(Fiscal year) #

Article 42(Budgets) #

Article 43(Settlement of accounts) #

Article 44(Operation of surplus funds) #

Article 45(Coverage of losses) #

Article 45-2(Maintenance of financial soundness) #

Article 46(Supervision) #

Article 47(Reporting and inspections) #

Article 47-2(Entrustment of business) #

Article 48(Liability of compensation) #

Article 49(Prohibition of use of similar names) #

Article 50(Requests for provision of data) #

Article 51(Penalty provisions) #

Article 52(Administrative fines) #