Article 1(Purpose) #
The purpose of this Decree is to prescribe matters concerning the enforcement of the Act on the Measures for the Admission to International Financial Institutions. <Amended on Apr. 9, 2005; Jul. 1, 2009>
Article 1-2(Investment or Contribution) #
(1) The amounts of payment for each subject of payment of the International Monetary Fund under Article 2 (5) of the Act on the Measures for the Admission to International Financial Institutions (hereinafter referred to as the "Act"), to which investments or contributions are made, shall be as specified in attached Table 1. <Amended on Dec. 1, 2020>
(2) The amounts of payment for each subject of payment of the International Bank for Reconstruction and Development under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 2. <Amended on Dec. 1, 2020>
(3) The amounts of payment for each subject of payment of the International Development Association under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 3. <Amended on Dec. 1, 2020>
(4) The amounts of payment for each subject of payment of the International Financial Corporation under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 4. <Amended on Dec. 1, 2020>
(5) The amounts of payment for each subject of payment of the Asia Development Bank under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 5. <Amended on Dec. 1, 2020>
(6) The amounts of payment for each subject of payment of the African Development Fund under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 6. <Amended on Dec. 1, 2020>
(7) The amounts of payment for each subject of payment of the African Development Bank under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 7. <Amended on Dec. 1, 2020>
(8) The amounts of payment for each subject of payment of the Common Fund for Commodities under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 8. <Amended on Dec. 1, 2020>
(9) The amounts of payment for each subject of payment of the Multilateral Investment Guarantee Agency under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 9. <Amended on Dec. 1, 2020>
(10) The amounts of payment for each subject of payment of the European Bank for Reconstruction and Development under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 10. <Amended on Dec. 1, 2020>
(11) The amounts of payment for each subject of payment of the Bank for International Settlements under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 11. <Amended on Dec. 1, 2020>
(12) The amounts of payment for each subject of payment of the Inter-American Development Bank under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 12. <Amended on Dec. 1, 2020>
(13) The amounts of payment for each subject of payment of the Inter-American Investment Corporations under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 13. <Amended on Dec. 1, 2020>
(14) The amounts of payment for each subject of payment of the Multilateral Investment Fund under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 14. <Amended on Dec. 1, 2020>
(15) The amounts of payment for each subject of payment of the Asian Infrastructure Investment Bank under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 15. <Amended on Dec. 1, 2020>
(16) The amounts of payment for each subject of payment of the ASEAN+3 Macroeconomic Research Organization under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 16. <Newly Inserted on May 11, 2021>
(17) The amounts of payment for each subject of payment of the Central American Bank for Economic Integration under Article 2 (5) of the Act, to which investments or contributions are made, shall be as specified in attached Table 17. <Amended on Dec. 1, 2020; May 11, 2021>
[This Article Wholly Amended on Jun. 29, 1996]
Article 1-3(Unit Value of Investment or Contribution) #
The unit value that indicates the investment or contribution pursuant to the provisions of Article 1-2 shall be prescribed by the relevant international financial institution.
[This Article Newly Inserted on Jun. 29, 1990]
Article 2(Payment of Investment through the Bank of Korea) #
(1) The Minister of Economy and Finance may require the Bank of Korea to pay all or part of investments to each international financial institution pursuant to Article 2 (3) of the Act: <Amended on Dec. 23, 1994; Nov. 13, 1998; Feb. 29, 2008; Apr. 7, 2010; Jun. 26, 2012>
(2) The Minister of Economy and Finance shall, where he or she intends to require the Bank of Korea to pay the investment under paragraph (1), with the approval of the President after deliberation by the State Council, ask the Governor of the Bank of Korea for the payment amount, the payment method, the payment time and other necessary matters. <Amended on Aug. 13, 1977; Dec. 23, 1994; Nov. 13, 1998; Sep. 11, 2002; Feb. 29, 2008; Jun. 26, 2012>
(3) The Governor of the Bank of Korea shall, where he or she has received a request pursuant to paragraph (2) from the Minister of Economy and Finance, take necessary action such as the payment of the investment to the relevant international financial institution accordingly. <Amended on Aug. 13, 1977; Dec. 23, 1994; Nov. 13, 1998; Sep. 11, 2002; Feb. 29, 2008; Jun. 26, 2012>
(4) The Minister of Economy and Finance may, in accordance with Article 4 (2) of the Act by determining the limited amount to which the Bank of Korean makes it possible to purchase securities, perform the procedure in its entirety pursuant to the same Article and the same paragraph. <Amended on Dec. 23, 1994; Nov. 13, 1998; Feb. 29, 2008; Jun. 26, 2012>
[This Article Wholly Amended on Dec. 1, 1971]
[Title Amended on Jun. 26, 2012]
Article 3(Re-issue of Securities) #
(1) The Minister of Economy and Finance may, when necessary to make the Bank of Korea purchase securities pursuant to Article 4 (2) of the Act, by means of exchange of securities which the Bank of Korea is depositing for the relevant international financial institutions, issue those securities by dividing into two parts with the one part of securities equivalent to the payment claim amount and the other part of securities equivalent to the amount subtracting its payment claim amount. <Amended on Dec. 1, 1971; Dec. 23, 1994; Nov. 13, 1998; Feb. 29, 2008; Jun. 26, 2012>
(2) The Minister of Economy and Finance may, when necessary for purchasing securities pursuant to Article 4 (2) of the Act, by means of exchange of securities which the Bank of Korea is depositing for the relevant international financial institutions, issue those securities equivalent to the amount subtracting its payment claim amount. <Amended on Dec. 1, 1971; Dec. 23, 1994; Nov. 13, 1998; Feb. 29, 2008; Jun. 26, 2012>
(3) Paragraph (2) shall also apply where the Governor of the Bank of Korea pays for securities having invested pursuant to Article 4 (1) of the Act. <Newly Inserted on Dec. 1, 1971; Aug. 13, 1977; Jun. 26, 2012>
Article 4(Payment of Loans) #
The Governor of the Bank of Korea shall pay the amount of loans pursuant to Article 4 (2) of the Act to the relevant international financial institutions. <Amended on Dec. 1, 1971; Jun. 26, 2012>
Article 5(Appropriation of Repayment) #
The Minister of Economy and Finance shall, when making payments with loans from the Bank of Korea pursuant to Article 4 (2) of the Act or permitting the Bank of Korea to purchase securities, appropriate the repayment amount arising from the relevant loans and the purchase of securities and the amount equivalent to its interest in the budget. <Amended on Dec. 1, 1971; Dec. 23, 1994; Dec. 31, 1996; Nov. 13, 1998; Feb. 29, 2008; Jun. 26, 2012>
Article 6(Reporting) #
The Governor of the Bank of Korea shall, when paying the investment pursuant to Article 2 and making a payment on the securities pursuant to Article 4 of the Act, report such to the Minister of Economy and Finance. <Amended on Dec. 23, 1994; Nov. 13, 1998; Feb. 29, 2008; Jun. 26, 2012>
[This Article Wholly Amended on Dec. 1, 1971]