KOREA DEVELOPMENT BANK ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to contribute to sound development of the financial industry and national economy, by establishing the Korea Development Bank which supplies and manages funds necessary for the development and fostering of industries, expansion of infrastructure, regional development, stabilization of the financial market, facilitation of sustainable growth, etc.

Article 2(Nature) #

(1) The Korea Development Bank (KDB) shall be a corporation.

(2) KDB shall be operated in accordance with this Act, orders issued hereunder, and its articles of incorporation.

Article 3(Relationship to other statutes) #

(1) Except as otherwise provided in this Act, the Banking Act and the Act on Corporate Governance of Financial Companies shall apply to KDB; provided, Articles 8 through 11, 11-2, 12, 13, 27, 27-2, 28, 28-2, the proviso of Article 30 (1), Articles 30 (2) 3, 32, 35, 37 (1) and (2), subparagraph 1 of Article 38, Article 40, subparagraphs 1 through 5, 7, and 9 of Article 47, Articles 48, 50, 53, 54, 54-2, 55 through 57, 67, and 68 (1) 1, 2, 5, 6, and 8 of the Banking Act and Articles 16 (1) 2, 19, 20, 34, and 35 of the Act on Corporate Governance of Financial Companies shall not apply thereto. <Amended on Jul. 31, 2015>

(2) Except as otherwise provided in this Act, the provisions of the Commercial Act regarding stock companies shall apply to KDB.

Article 4(Establishment of head office and branches) #

(1) KDB shall have its head office in Seoul Special Metropolitan City.

(2) KDB may establish branches, agencies, or other business places or offices in a place necessary for its operation, as prescribed by its articles of incorporation.

KOREA DEVELOPMENT BANK ACT

Article 1(Purpose) #

Article 2(Nature) #

Article 3(Relationship to other statutes) #

Article 4(Establishment of head office and branches) #

(Capital)

Article 6(Articles of incorporation) #

Article 7(Registration) #

Article 8(Prohibition on use of similar name) #

Article 9(Dissolution) #

Article 10(Executive officers) #

Article 11(Duties of executive officers) #

Article 12(Board of directors) #

Article 13(Appointment or dismissal of executive officers) #

Article 14(Terms of office of executive officers) #

Article 15(Appointment of agent) #

Article 16(Appointment or dismissal of employees) #

Article 17(Legal fiction as public officials for purposes of applying penalty provisions) #

Article 18(Business operations) #

Article 19(Guarantee of payment of loans in foreign currency) #

Article 20(Long-term loans of special government funds) #

Article 21(Service manuals) #

Article 22(Application for approval of business plans) #

Article 23(Issuance of industrial finance bonds) #

Article 24(Issuance of bonds to refund bonds or to discharge obligations for guaranteed or accepted debts) #

Article 25(Methods of issuing bonds) #

Article 26(Guarantee of payment by government) #

Article 27(Extinctive prescription of bonds) #

Article 28(Delegation) #

Article 29(Establishment of fund operation committee) #

Article 29-2(Establishment of key industry stabilization fund) #

Article 29-3(Financial resources of key industry stabilization fund) #

Article 29-4(Management, operation, and accounting of key industry stabilization fund) #

Article 29-5(Procedure and requirements for financial support) #

Article 29-6(Establishment of deliberative committee on operation of key industry stabilization fund) #

Article 29-7(Establishment of high-tech Strategic industry fund) #

Article 29-8(Financial resources of high-tech strategic industry fund) #

Article 29-9(Management, investment, and accounting of high-tech strategic industry fund) #

Article 29-10(Procedure and requirements for financial support) #

Article 29-11(Establishment of deliberative committee on operation of high-tech strategic industry fund) #

Article 30(Fiscal year, budget, and settlement of accounts) #

Article 31(Disposal of profit) #

Article 32(Coverage of losses) #

Article 33(Use of surplus funds) #

Article 34(Supervision) #

Article 35(Grounds for dismissal of executives) #

Article 36(Submission of reports and inspection of documents) #

Article 37(Restrictions on ownership of property) #

Article 38(Special cases concerning investment under Special Act) #

Article 39(Administrative fines) #

Article 40(Exclusion from application of other statutes) #

Article 41(Special cases concerning immunity from disciplinary action) #

Article 42(Special cases concerning financial support) #