INDUSTRIAL DEVELOPMENT ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to sharpen competitiveness of the industrial sector and to promote sustainable industrial development to cope with the advent of the knowledge-based economy, thereby contributing to development of the national economy.

Article 2(Scope of application) #

This Act shall apply to any of the following types of business prescribed by Presidential Decree (hereinafter referred to as "industry"); provided, in cases of supporting middle-standing enterprises referred to in subparagraph 1 of Article 2 of the Special Act on the Promotion of Growth and the Strengthening of Competitiveness of Middle-Standing Enterprises, this shall apply to all types of business: <Amended on Jan. 21, 2014>

1. The manufacturing industry;

2. The service industry closely related to enhancing competitiveness of the manufacturing industry.

[This Article Wholly Amended on Mar. 30, 2011]

Article 3(Industrial development policy) #

In order to achieve the purposes of this Act, the Minister of Trade, Industry and Energy shall devise policies (hereinafter referred to as "industrial development policies") for any purpose falling under any of the following subparagraphs, after consulting with the heads of relevant central administrative agencies: <Amended on Mar. 23, 2013>

1. Facilitation of transition to the knowledge-based economy;

2. Enhancement of the industry’s competitiveness;

3. Establishment of a foundation for sustainable development of the industry;

4. Facilitation of corporate restructuring and business realignment;

5. Improvement of industrial technology and productivity;

6. Supply and efficient management of workforce engaged in the industrial sector;

7. Expansion of industrial infrastructure;

INDUSTRIAL DEVELOPMENT ACT

Article 1(Purpose) #

Article 2(Scope of application) #

Article 3(Industrial development policy) #

Article 4(Mid- to long-term development outlook) #

Article 5(Designation of advanced technology and products) #

Article 6(Establishment of policies for improving competitiveness of each industrial sector) #

Article 7(Stimulating creation of new industries) #

Article 8(Fostering knowledge services industry) #

Article 9(Regional promotion projects) #

Article 10(Formulation of policies for encouraging project specialization) #

Article 10-2 #

Article 11(Stimulation of inter-corporate cooperation) #

Article 12(Promotion and development of managerial resources) #

Article 12-2(Reeducation and retraining of industrial human resources) #

Article 13(Support for business realignment) #

Article 14(Development of industrial statistics system) #

Article 15(Fact-finding surveys) #

Article 16(Improvement of resource productivity) #

Article 17(Tasks regarding resource productivity) #

Article 18(Evaluation standards and indicators of sustainable industrial development) #

Article 19(Comprehensive policies for sustainable management) #

Article 20(Registration of institutional private equity funds for improving corporate structure) #

Article 21(Scope of companies subject to restructuring) #

Article 22(Methods of property management of institutional private equity funds for improving corporate structure) #

Article 23(Dissolution of institutional private equity funds for improving corporate structure) #

Article 24(Investment in institutional private equity funds for improving corporate structure) #

Article 25(Formulation and promotion of policies to support corporate restructuring) #

Article 26(Prohibition of use of same name) #

Article 27(Encouragement of business) #

Article 28(Support to companies specializing in production) #

Article 29(Policies to preserve production facilities) #

Article 30 #

Article 31 #

Article 32(Korea Productivity Center) #

Article 33(Financial resources for projects) #

Article 34(Policy for promotion of international industrial cooperation) #

Article 35(Operation of consultative body on industrial cooperation) #

Article 36(Support for private industrial cooperation) #

Article 37(Utilization of private experts) #

Article 38 #

Article 39 #

Article 40(Mutual aid association) #

Article 41(Projects of mutual aid cooperative) #

Article 42(Transferring equity in mutual aid associations) #

Article 43(Acquisition of equity by mutual aid associations) #

Article 44(Appointment of agents) #

Article 45(Responsibility of mutual aid associations) #

Article 46(Accumulation of liability reserve) #

Article 47(Submission of data) #

Article 48(Delegation and entrustment of authority) #

Article 49(Legal Fiction as public officials in application of penalty provisions) #

Article 49-2(Re-examination of regulation) #

Article 50(Administrative fines) #