Article 1(Purpose) #
The purpose of this Decree is to prescribe the matters mandated by the Korea Rural Community Corporation and Farmland Management Fund Act and those necessary for the enforcement thereof.
[This Article Wholly Amended on Jun. 26, 2009]
Article 2(Investment of created land and others) #
(1) Land that may be invested by the State in the Korea Rural Community Corporation (hereinafter referred to as the "Corporation") under Article 6(3) of the Korea Rural Community Corporation and Farmland Management Fund Act (hereinafter referred to as the "Act") shall be reclaimed land, landfill, developed land, and other land equivalent thereto.
(2) A management right to agricultural infrastructure that may be invested by the State in the Corporation under Article 6(3) of the Act shall be a management right to a tide embankment, estuary bank and facilities annexed thereto designated by the Minister of Agriculture, Food and Rural Affairs, among agricultural infrastructure created by the State. <Amended on Mar. 23, 2013>
(3) The value of an agricultural infrastructure management right invested by the State in the Corporation under paragraph (2) shall be the value appraised by the method prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs in consideration of the nature of the agricultural infrastructure and other factors. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 3(Registration of incorporation) #
(1) Matters to be registered for incorporation of the Corporation under Article 7(2) of the Act shall be as follows:
1. Objectives;
2. Name;
3. Location of the main office or branch office;
4. Capital;
5. Method and amount of the investment;
6. Names, resident registration numbers and addresses of executive officers (excluding addresses in the case of executive officers without power of representation);
7. Method of public announcement.
(2) Upon completion of the registration of incorporation under paragraph (1), the Corporation shall, without delay, make public announcement of the purport thereof.
[This Article Wholly Amended on Jun. 26, 2009]
Article 4(Registration of establishment of branch office) #
Where the Corporation establishes a branch office, it shall register the name, location, and establishment date of the branch office at the location of its main office within 2 weeks thereafter.
[This Article Added on Jan. 21, 2025]
Article 5(Registration of relocation) #
(1) Where the Corporation relocates its main office, it shall register the new location and the date of relocation at the old or new location within 2 weeks thereafter.
(2) Where the Corporation relocates its branch office, it shall register the new location and the date of relocation at the location of the main office within 2 weeks thereafter.
[This Article Added on Jan. 21, 2025]
Article 6(Registration of changes) #
Where there is any change to the registered matters specified in the subparagraphs of Article 3(1) or Article 4 (excluding registration of relocation under Article 5), the Corporation shall register such changes at the location of its main office within 2 weeks thereafter.
[This Article Added on Jan. 21, 2025]
Article 7(Calculation of registration period) #
The period of registration of matters subject to registration by the Corporation and authorization, approval, etc. by the Minister of Agriculture, Food and Rural Affairs shall be calculated from the date the written authorization, approval, etc. arrives. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 8(Competent registry) #
(1) The district court, branch court, or registry having jurisdiction over the location of the main office shall take charge of the registration of the Corporation. <Amended on Jan. 21, 2025>
(2) The competent registry office shall keep a register of the Korea Rural Community Corporation.
[This Article Wholly Amended on Jun. 26, 2009]
Article 9(Attachments to application for registration) #
Where the Corporation applies for registration, it shall attach documents classified as follows to an application for registration:
1. For the registration of incorporation under Article 3: Its articles of incorporation, and documents evidencing the amount of paid-in capital and qualifications for executive officers;
2. For the registration of the establishment of a branch office under Article 4: Documents evidencing the establishment of the branch office;
3. For the registration of relocation or changes under Article 5 or 6: Documents evidencing such relocation or changes.
[This Article Wholly Amended on Jun. 26, 2009]
Article 10(Registration of appointment of agent) #
(1) Where an agent is appointed by the president under Article 9 of the Act, the Corporation shall register the following matters at the location of its main office within 2 weeks thereafter; and the same shall also apply to any change to the registered matters: <Amended on Jan. 21, 2025>
1. Name, resident registration number and address of the agent;
2. Name and location of the main office or branch office for which the agent is appointed;
3. Where the authority of an agent is restricted, the details of such restriction.
(2) Where the agent appointed by the president under Article 9 of the Act is dismissed, the Corporation shall register the purport of such dismissal at the location of its main office within 2 weeks thereafter. <Amended on Jan. 21, 2025>
[This Article Wholly Amended on Jun. 26, 2009]
Article 11(Projects for accomplishing objectives of establishment of Corporation) #
"Projects necessary for achieving the objectives of the incorporation of the Corporation" in Article 10(1)15 of the Act means the following: <Amended on Oct. 14, 2010; Mar. 23, 2013>
1. A project for the acquisition, development, utilization, preservation, and management of land created under the Public Waters Management and Reclamation Act (limited to land created as a site for agriculture and livestock farming);
2. Other projects recognized by the Minister of Agriculture, Food and Rural Affairs.
[This Article Wholly Amended on Jun. 26, 2009]
Article 12(Grounds for incorporation into areas managed by Corporation) #
An area other than the areas managed by the Corporation may be incorporated into such areas under Article 12(1) of the Act in any of the following cases:
1. Where agricultural water from newly installed agricultural infrastructure becomes accessible to the relevant area as the State or the Corporation manages and operates such agricultural infrastructure;
2. Where agricultural water from the agricultural infrastructure of a local government becomes accessible to the relevant area as the Corporation is entrusted with the management of such infrastructure;
3. Where agricultural water from the existing agricultural infrastructure managed and operated by the Corporation becomes accessible to the relevant area.
[This Article Wholly Amended on Jun. 26, 2009]
Article 13(Grounds for exclusion from areas managed by Corporation) #
Land located in an area managed by the Corporation may be excluded therefrom under Article 12(3) of the Act in any of the following cases: <Amended on Jul. 2, 2019>
1. Where the land has had no access to agricultural water from the agricultural infrastructure since the establishment of the area managed by the Corporation and is unlikely to access such water within the next several years;
2. Where there is a change in the uses of the land due to a natural disaster or a force majeure event equivalent thereto, making the need for agricultural water obsolete;
3. Where supply of agricultural water is practically unavailable due to the aging or poorly functioning agricultural infrastructure and there is no likelihood that the functions of such infrastructure come back to normal within the next several years;
4. Where the land has been designated for use as an urban area, industrial complex, or other common or public use and will be unable to serve an original purpose of farmland in the future;
5. Where the purpose of diversion of farmland has been achieved upon permission for or consultation on diversion of farmland under Article 34 of the Farmland Act (including consultation deemed permission to divert farmland under other statutes), or where a report on diversion of farmland has been filed under Article 35 or 43 of that Act and the purpose of such diversion has already been achieved, making the need for agricultural water obsolete;
6. Where there is no longer the need for agricultural water from the agricultural infrastructure in an area managed by the Corporation due to the installation of irrigation facilities, such as reservoirs, wells, etc., by the land owner or other grounds equivalent thereto.
[This Article Wholly Amended on Jun. 26, 2009]
Article 14(Other users of agricultural water) #
A person eligible to use agricultural water under Article 13(1)3 of the Act shall be a person who intends for any of the following land to be supplied with agricultural water: <Amended on Dec. 15, 2009; Oct. 14, 2010>
1. State-owned land or public land loaned under the State Property Act or other statutes;
2. Land created by a reclamation license holder under the Public Waters Management and Reclamation Act;
3. Landfill, etc. created through the implementation of an agricultural infrastructure improvement project under the Agricultural and Fishing Villages Improvement Act.
[This Article Wholly Amended on Jun. 26, 2009]
Article 15(Implementation plan for farmland banking project) #
(1) The Corporation shall formulate an implementation plan for the following projects and obtain approval from the Minister of Agriculture, Food and Rural Affairs prior to the beginning of each fiscal year: <Amended on Mar. 23, 2013>
1. Projects for trade of farmland and provision of funds for purchasing farmland under Article 18 of the Act;
2. Projects for long-term lease of farmland under Article 19 of the Act;
3. Projects for the exchange, division, or consolidation of farmland under Article 22 of the Act;
4. Projects for providing information on farmland and for purchasing, selling, or leasing farmland under Article 24-2 of the Act;
5. Projects for purchase of farmland to support business workout under Article 24-3 of the Act;
6. Projects for entrusting lease, lease without compensation, or sale of farmland under Article 24-4 of the Act;
7. Projects for providing funds to farmers for their financially stable life after retirement, with farmland as collateral, under Article 24-5 of the Act.
(2) The Minister of Agriculture, Food and Rural Affairs may pay expenses incurred by the Corporation in implementing the projects listed in the subparagraphs of paragraph (1) (excluding projects referred to in subparagraph 6 of that paragraph) from the Farmland Management Fund under Article 31 of the Act (hereinafter referred to as the "Fund"). <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 16(Exchange, division, or consolidation of farmland) #
(1) The Corporation may conduct an exchange, division or consolidation of farmland under Article 22(1) of the Act only where its owner applies for the exchange, division or consolidation of farmland under Article 43 of the Agricultural and Fishing Villages Improvement Act. <Amended on Dec. 15, 2009>
(2) Where the Corporation obtains authorization for a plan for the exchange, division, or consolidation of farmland from a Metropolitan City Mayor, Do Governor, or Special Self-Governing Province Governor under Article 22(2) of the Act, it shall give public notice of the outline of the plan for the exchange, division, and consolidation within a specified period of at least 5 days but up to 15 days, and shall make it available for perusal by interested parties.
(3) Where a farmland owner intends to receive funds necessary for the exchange, division, or consolidation of farmland, he or she may request the Corporation to provide support therefor, as prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
(4) Where a person intends to receive funds for the settlement of a project for exchange, division or consolidation of farmland, or for collective land substitution under Article 34(1)3 of the Act, a project implementer for the development and expansion of agricultural infrastructure under the Agricultural and Fishing Villages Improvement Act may request the Corporation to cooperate in providing such funds, as prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Dec. 15, 2009; Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 17(Profit and loss from projects financed by the Fund) #
(1) Profits and losses reverted to the Fund under Article 23(4) of the Act shall be as follows:
1. The difference between the purchase price and sale price of farmland;
2. The difference between the rents and lease price of farmland;
3. Lease price of farmland;
4. The difference between farmland pension bonds referred to in Article 19-11(2) and redemption value thereof.
(2) The Corporation shall receive settlement from the Minister of Agriculture, Food and Rural Affairs as of the last day of each fiscal year for the results of the projects implemented with a loan from the Fund; and shall transfer the profits accruing therefrom to the Fund and request the Minister of Agriculture, Food and Rural Affairs to reimburse the incurred losses. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 18(Farmland redevelopment projects) #
(1) A project for redevelopment of farmland under Article 24(1) of the Act shall be a project for developing idle farmland, farmland with poor natural or utilization conditions, surrounding land, etc. (including where it is implemented concurrently with an agricultural infrastructure improvement project under the Agricultural and Fishing Villages Improvement Act for land adjacent to an area managed by the Corporation), which is recognized by the Minister of Agriculture, Food and Rural Affairs. <Amended on Dec. 15, 2009; Mar. 23, 2013>
(2) Where the Corporation intends to implement a farmland redevelopment project under paragraph (1), it shall formulate an implementation plan for the farmland redevelopment project upon receipt of applications from at least two landowners in the relevant zone and obtain approval from the Minister of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
(3) An application referred to in paragraph (2) shall be filed with the consent of at least 2/3 of the owners of land, etc. under Article 11 of the Agricultural and Fishing Villages Improvement Act in the relevant area; provided, where it is impossible to obtain the consent of at least 2/3 of the eligible persons on the grounds prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs, an application may be filed with the consent of the landowners who own at least 2/3 of the area subject to the development of the zone. <Amended on Dec. 15, 2009; Mar. 23, 2013>
(4) Where the Corporation has obtained approval of an implementation plan for a farmland redevelopment project under paragraph (2), it shall publicly announce the outline of the relevant farmland redevelopment project without delay to make it available for perusal by interested parties.
(5) Except as provided in this Decree, a farmland redevelopment project under Article 24(1) of the Act and a project for developing property owned by the Corporation under Article 24(2) of the Act shall be performed in the same manner as agricultural infrastructure improvement projects under the Agricultural and Fishing Villages Improvement Act are performed. <Amended on Dec. 15, 2009>
[This Article Wholly Amended on Jun. 26, 2009]
Article 19(Redevelopment project plan for land owned by Corporation) #
A project plan to be formulated under Article 24(3) of the Act shall include the following: <Amended on Mar. 23, 2013>
1. A location map of the prospective project area;
2. An outline of the project plan (including the name, scale, etc. of the project);
3. Revenue and expenditure budget and financing plan;
4. Project efficiency analysis;
5. A plan for the management and disposal of land or facilities to be developed;
6. Other matters deemed necessary by the Minister of Agriculture, Food and Rural Affairs.
[This Article Wholly Amended on Jun. 26, 2009]
Article 19-2(Purchase of farmland for stabilization of farmland market and improvement of agricultural structure) #
(1) Where the Corporation purchases farmland to stabilize the farmland market and improve agricultural structure under Article 24-2(2) of the Act, the farmland subject to purchase shall be as follows: <Amended on Mar. 23, 2013; Oct. 6, 2015; Jul. 1, 2020; Aug. 1, 2023; Apr. 1, 2025>
1. Farmland owned by a farmer who intends to move or change jobs;
2. Farmland owned by a farmer who intends to retire for reasons such as old age or illness that meet the criteria determined and publicly notified by the Minister of Agriculture, Food and Rural Affairs;
3. Farmland owned by a farmer that is not used for agricultural management for any reason other than those provided in subparagraphs 1 and 2;
4. Farmland owned by an inheritor or a person who conducts agricultural management under Article 6(2)4 or 5 of the Farmland Act;
5. Farmland continuously owned by a non-farmer (excluding the State, local governments, or public institutions under Article 4 of the Act on the Management of Public Institutions) after having been acquired before January 1, 1996, the enforcement date of the Farmland Act (Act No. 4817);
6. Farmland on lease, with or without consideration, for 5 consecutive years upon entrustment to the Corporation under Article 24-4(1) of the Act;
7. Farmland owned by the State, a local government, or a public institution under Article 4 of the Act on the Management of Public Institutions;
8. Other farmland prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs.
(2) Where the Corporation purchases farmland under paragraph (1), the purchase price shall be the amount appraised by an appraisal corporation, etc. under the Act on Appraisal and Certified Appraisers. <Amended on Aug. 31, 2016; Jan. 21, 2022>
[This Article Wholly Amended on Jun. 26, 2009]
Article 19-3(Sale and lease of purchased farmland) #
(1) The Corporation may sell or lease farmland it owns under Article 24-2(2) of the Act to professional farmers, agricultural corporations, or other persons prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
(2) Where the Corporation sells owned farmland under Article 24-2(2) of the Act, the sale price shall be the amount appraised by an appraisal corporation, etc. under the Act on Appraisal and Certified Appraisers. <Amended on Aug. 31, 2016; Jan. 21, 2022>
(3) Where the Corporation leases farmland under Article 24-2(2) of the Act, the lease price shall be determined by agreement with the lessee in consideration of that of the farmland in the relevant area.
[This Article Wholly Amended on Jun. 26, 2009]
Article 19-4(Purchase of farmland to support business workout) #
(1) Farmers or agricultural corporations intending to sell farmland in their possession and agricultural facilities appurtenant thereto (hereinafter referred to as "farmland, etc.") to the Corporation and lease them under Article 24-3(1) of the Act shall apply for the sale and lease of farmland, etc. to the Corporation.
(2) Upon receipt of an application under paragraph (1), the Corporation shall comprehensively examine whether the relevant farmer or agricultural corporation meets the evaluation standards prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs, such as the severity of a management crisis, possibility of business recovery, and management capability, and may purchase farmland, etc. subject to application if it meets such standards. <Amended on Mar. 23, 2013>
(3) Where the Corporation purchases farmland, etc. under Article 24-3(1) of the Act, the purchase price shall be the amount classified as follows: <Amended on Aug. 31, 2016; Jan. 21, 2022>
1. Farmland: The amount appraised by an appraisal corporation, etc. under the Act on Appraisal and Certified Appraisers;
2. Agricultural facilities appurtenant to farmland: The amount appraised by an appraisal corporation, etc. under the Act on Appraisal and Certified Appraisers as of the expiration of the lease period.
[This Article Wholly Amended on Jun. 26, 2009]
Article 19-5(Lease period and price) #
(1) Where the Corporation leases farmland, etc. it has purchased under Article 24-3(1) of the Act to the relevant farmer or agricultural corporation, the lease period shall be 7 years.
(2) Where it is deemed difficult for the farmer or agricultural corporation that has sold farmland, etc. under Article 24-3(1) of the Act to rehabilitate the business during the lease period under paragraph (1), the Corporation may extend such period by up to 3 years, as prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
(3) Where the Corporation leases farmland, etc. it has purchased under paragraph (1) to the relevant farmer or agricultural corporation, the annual lease price shall be calculated by multiplying the purchase price of the relevant farmland, etc. by a rate determined by the Minister of Agriculture, Food and Rural Affairs, which shall not exceed 10/1,000, and may be calculated to be paid in monthly or daily installments. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 19-6(Repurchase of farmland, etc.) #
(1) Where the owner of farmland, etc. at the time of sale or his or her general successor (hereinafter referred to as "repurchase right holder") intends to request the repurchase of the farmland, etc. under Article 24-3(3) of the Act, he or she shall file an application for repurchase with the Corporation, as prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
(2) Where the repurchase right holder files an application for repurchase under paragraph (1), he or she shall do so for the entire farmland, etc. sold; provided, farmland, etc. with special grounds such as expropriation for public works projects may be excluded from the application.
(3) Notwithstanding the main clause of paragraph (2), the repurchase right holder may file an application for repurchase with respect to the area representing at least 50/100 of the sale price (referring to the sale price of the area excluding the farmland, etc. expropriated under the proviso of paragraph (2)) as at the time of sale, out of the area excluding the farmland, etc. expropriated under the proviso of paragraph (2), as prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Added on Dec. 22, 2015>
(4) Where the Corporation sells farmland, etc. it has purchased under Article 24-3(3) of the Act, the repurchase price shall be the amount classified as follows: <Amended on Mar. 23, 2013; Dec. 22, 2015; Aug. 31, 2016; Jan. 21, 2022; Aug. 1, 2023>
1. Farmland: The lower of the following amounts; provided, in the case of repurchase under paragraph (3), it shall be the amount specified in item a;
a. The amount appraised by an appraisal corporation, etc. under the Act on Appraisal and Certified Appraisers;
b. The sum of the purchase price of farmland and the amount obtained by applying the rate determined by the Minister of Agriculture, Food and Rural Affairs in consideration of the interest rates, etc. for agricultural policy funds to the purchase price until the date of repurchase;
2. Agricultural facilities appurtenant to farmland: The purchase price of the relevant agricultural facilities.
(5) Where the repurchase right holder files an application for repurchase under paragraph (1) during the period of lease referred to in Article 19-5(1) or (2), he or she may pay the price in installments, as prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013; May 9, 2014; Dec. 22, 2015>
Article 19-7(Standards for entrustment of lease or sale of farmland) #
(1) The farmland that the Corporation may be entrusted with lease, with or without consideration, or sale thereof under Article 24-4(1) of the Act shall be at least one parcel of farmland. <Amended on Jul. 1, 2020>
(2) The Corporation shall not be entrusted with lease, with or without consideration, or sale of any of the following farmland: <Amended on Mar. 23, 2013>
1. Farmland in a residential, commercial, or industrial area designated under Article 36 of the National Land Planning and Utilization Act;
2. Farmland, for which permission is granted for the diversion of farmland under Article 34 of the Farmland Act (including authorization, permission, approval, etc. by which permission to divert farmland is deemed granted under other statutes; hereafter in this paragraph, the same shall apply) or a report is filed for the diversion of farmland under Article 35 or 43 of that Act (including authorization, permission, approval, etc. by which a report on the diversion of farmland is deemed filed under other statutes; hereafter in this paragraph, the same shall apply);
3. Farmland determined and publicly notified by the Minister of Agriculture, Food and Rural Affairs among farmland located in an area, district, zone, or complex designated for development purposes; provided, the Corporation may be entrusted with lease, with or without consideration, of farmland that meets all of the following requirements even after designation for development purposes until granting of permission to divert farmland under Article 34 of the Farmland Act or filing of a report on the diversion of farmland under Article 35 or 43 of that Act:
a. The Corporation shall have been entrusted with lease, with or without consideration, before its designation for development purposes;
b. The owner of the farmland shall be the same as before its designation for development purposes (including where the inheritor acquires the relevant farmland by inheritance or bequest following the death of its owner).
(3) Where the Corporation is entrusted with the lease, with or without consideration, or sale of farmland, the period of such entrustment shall be as follows:
1. For lease with or without consideration: At least 5 years;
2. For sale: Up to 6 months.
[This Article Wholly Amended on Jun. 26, 2009]
Article 19-8(Standards for entrustment fees) #
The standards for the rates of entrustment fees for the lease, with or without consideration, or sale of farmland under Article 24-4(2) of the Act shall be as specified in Appendix 1.
[This Article Wholly Amended on Jun. 26, 2009]
Article 19-9(Criteria for application for and granting of funds for financially stable life after retirement) #
(1) A farmer who intends to receive funds for a financially stable life after retirement by mortgaging his or her farmland under Article 24-5(1) of the Act (hereinafter referred to as "farmland pension") shall file with the Corporation an application for farmland pension.
(2) Upon receipt of an application under paragraph (1), the Corporation shall comprehensively examine whether the relevant farmer meets all of the following requirements, and may determine that the farmer is eligible for support within the budget of such farmland pension: <Amended on May 9, 2014; Oct. 6, 2015; Feb. 15, 2022; Apr. 1, 2025>
1. The farmer shall be at least 60 years old (the age determined and publicly notified by the Minister of Agriculture, Food and Rural Affairs in the case of the method for farmland pension support specified in Article 19-10(2)2) as of the last day of the year in which an application is filed;
2. The farmer shall be engaged in farming for at least 5 years;
3. Deleted. <Oct. 6, 2015>
[This Article Added on Jun. 26, 2009]
Article 19-10(Farmland pension support methods) #
(1) Where a person determined to be eligible for support under Article 19-9(2) intends to receive farmland pension, he or she shall provide the farmland as collateral to the Corporation and conclude an agreement on farmland pension support (hereinafter referred to as "farmland pension agreement"). In such cases, the scope of farmland offered as collateral (hereinafter referred to as "mortgaged farmland") and the method of assessing the price thereof shall be prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
(2) A person who intends to enter into a farmland pension agreement under paragraph (1) shall select one of the following methods: <Amended on Nov. 14, 2017; Feb. 15, 2022>
1. Monthly payments during lifetime;
1-2. A combination of the method in subparagraph 1 and the method by which a fixed amount is paid from time to time, which shall not exceed 30/100 of the amount payable under the farmland pension agreement;
2. Monthly payments for a fixed period of time;
3. An agreement to sell the mortgaged farmland to the Corporation upon the lapse of the period of payment made by the method in subparagraph 2 or the death of the recipient under paragraph (3) during the payment period.
(3) Where the Corporation has entered into a farmland pension agreement, it shall establish a mortgage on the farmland put up as collateral and make farmland pension payments to the following persons: <Amended on Mar. 23, 2013>
1. A farmer who has entered into a farmland pension agreement with the Corporation;
2. A spouse prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs, who may decide whether to register the transfer of ownership of the mortgaged farmland and assume the farmland pension obligations within 6 months from the date of death of the farmer referred to in subparagraph 1; provided, the spouse who refuses to register the transfer of ownership of the mortgaged farmland and assume the farmland pension debt obligations shall be excluded;
3. A spouse prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs, who has registered the transfer of ownership of the mortgaged farmland and has assumed the farmland pension debt obligations within 6 months from the date of death of the farmer referred to in subparagraph 1.
(4) "Farmland pension debt obligations" in paragraph (3)2 and 3 means debt owed by a farmer who has applied for funds for a financially stable life after retirement by mortgaging his or her farmland to the Corporation (including the risk charges under Article 19-11(2)). <Amended on May 9, 2014>
Article 19-11(Risk charges for farmland pension) #
(1) Deleted. <May 9, 2014>
(2) The Corporation may collect risk charges for farmland pension calculated by multiplying the rate determined and publicly notified by the Minister of Agriculture, Food and Rural Affairs, which shall not exceed 2/100 per annum, by the bonds held in relation to farmland pension under Article 19-10(4) (hereinafter referred to as "farmland pension bonds"), taking into account the operational status of the farmland pension, etc. <Amended on Mar. 23, 2013>
(3) The risk charges referred to in paragraph (2) shall be collected by including the amount thereof in farmland pension bonds. <Amended on May 9, 2014>
[This Article Added on Jun. 26, 2009]
[Title Amended on May 9, 2014]
Article 19-12(Restriction on establishment of mortgage) #
(1) A person who receives farmland pension payments under Article 19-10(3) (hereinafter referred to as "farmland pension recipient") shall not establish any restricted real rights, such as mortgage, provisional registration security, superficies, easement, etc. on the mortgaged farmland.
(2) Notwithstanding paragraph (1), where a farmland pension recipient has established a mortgage against the Corporation, with the amount greater than the estimated total amount of the farmland pension bonds set as the debt ceiling, he or she may establish security rights, such as mortgage or provisional registration security, with the consent of the Corporation.
[This Article Added on Jun. 26, 2009]
Article 19-13(Suspension and recovery of farmland pension) #
(1) The Corporation shall suspend farmland pension payments where any of the following grounds arises: <Amended on Mar. 23, 2013>
1. Where a farmer referred to in article 19-10(3)1 dies, falling under any of the following cases:
a. There is no spouse prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs;
b. Where the spouse prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs refuses or fails to complete the registration of transfer of ownership of the mortgaged farmland and assumption of the farmland pension debt obligations within 6 months;
2. Where the spouse referred to in Article 19-10(3)3 dies;
3. Where a farmland pension recipient loses ownership of the mortgaged farmland;
4. Where farmland pension claims are expected to exceed the debt ceiling of the mortgage and the request of the Corporation for the change of the debt ceiling is not complied with;
5. Where a restricted real right has been established over the mortgaged farmland or a security right is established without the consent of the Corporation, in violation of Article 19-12(1) and (2);
6. Where the mortgaged farmland can no longer be used as farmland due to diversion, etc.
(2) Where any ground referred to in paragraph (1) arises, the Corporation shall recover farmland pension claims by any of the following methods: <Amended on Aug. 1, 2023>
1. Receipt of a repayment of farmland pension debt obligations;
2. Execution of the mortgage right;
3. Reimbursement with the mortgaged farmland; in such cases, where the value of the mortgaged farmland appraised by an appraisal corporation, etc. under the Act on Appraisal and Certified Appraisers is greater than the amount of farmland pension claims, the Corporation shall settle the difference.
(3) Notwithstanding paragraphs (1) and (2), where part of the mortgaged farmland falls under paragraph (1)3 or 6 and unavoidable ground exists, the Corporation may collect farmland pension claims for that part of the mortgaged farmland and make farmland pension payments for the remaining part of the mortgaged farmland.
(4) Where the payment period for the farmland pension support method referred to in Article 19-10(2)3 elapses, the Corporation shall recover the farmland pension claims by purchasing the mortgaged farmland for the price referred to in Article 19-2(2) and settle the difference if the purchase price is greater than the value of the farmland pension claims; provided, where it is impossible to purchase the mortgaged farmland, farmland pension claims may be recovered by the method referred to in paragraph (2)1 or 2. <Added on Nov. 14, 2017; Aug. 1, 2023>
Article 19-14(Scope of exercise of farmland pension claims) #
(1) Claims for Corporation-funded farmland pension may only be exercised against the mortgaged farmland.
(2) Notwithstanding paragraph (1), the Corporation may exercise claims against other property of a farmland pension recipient for the amount unrecoverable from the mortgaged farmland on any of the following grounds: <Amended on Sep. 20, 2010; Mar. 27, 2017>
1. Tax claims under Article 35(1) of the Framework Act on National Taxes and Article 71(1) of the Framework Act on Local Taxes, which take precedence over mortgages established under Article 19-10(3);
2. Wage claims under Article 38(2) of the Labor Standards Act, which take precedence over mortgages established under Article 19-10(3);
3. Farmland pension claims after the ground for suspension of payment under Article 19-13(1) arises;
4. Farmland pension claims that are unrecoverable because the mortgaged farmland has been damaged due to the intent or gross negligence of the farmland pension recipient.
[This Article Added on Jun. 26, 2009]
Article 19-15(Farmland pension deposit) #
"Amount prescribed by Presidential Decree" in the main clause of Article 24-6(1) of the Act means the amount prescribed in the main clause of Article 2 of the Enforcement Decree of the Civil Execution Act.
[This Article Added on Jul. 1, 2020]
Article 19-16(Methods and procedures for applying for exclusive farmland pension accounts) #
(1) A person who intends to have farmland pension payments made to a designated account in the recipient's name (hereinafter referred to as "exclusive farmland pension account") under the main clause of Article 24-6(1) of the Act shall specify such exclusive farmland pension account in his or her name in a farmland pension agreement form determined by the Corporation, accompanied by a copy of the bankbook (referring to the page showing the account number), and submit it to the Corporation when entering into a farmland pension agreement under Article 19-10(1). The same shall also apply to a change of an exclusive farmland pension account.
(2) "Unavoidable reasons prescribed by Presidential Decree" in the proviso of Article 11-7(1) of the Act means where a financial institution in which an exclusive farmland pension account is opened is unable to operate normally due to the permanent closure or suspension of its business or other reasons.
(3) Where the Corporation is unable to transfer farmland pension payments to an exclusive farmland pension account under the proviso of Article 24-6(1) of the Act, it shall transfer them to that opened in another financial institution at the request of the eligible recipient; provided, where transfer to another exclusive farmland pension account is also unavailable, payments may be made in cash after verification of the recipient's identification card, such as a resident registration certificate (including a mobile resident registration certificate). <Amended on Dec. 3, 2024>
[This Article Added on Jul. 1, 2020]
Article 20(Issuance of bonds) #
Where the Corporation intends to issue bonds under Article 27 of the Act, it shall obtain a resolution of the board of directors on the following matters:
1. Purposes of issuing bonds;
2. Methods of issuing bonds;
3. Matters specified in Article 21(2)2 through 7.
[This Article Wholly Amended on Jun. 26, 2009]
Article 21(Subscription to bonds) #
(1) A person who intends to subscribe to bonds shall enter the number of bonds to be subscribed to, the amount to be paid for such subscription, and his or her address in a bond subscription form, which shall be signed and seal affixed; provided, in the case of issuing bonds at a fixed minimum value, the subscription price shall be stated thereon.
(2) The bond subscription form shall be prepared by the president and shall contain the following matters:
1. Name of the Corporation;
2. Total amount of bonds to be issued;
3. The face value of each bond;
4. Interest rate on bonds;
5. Method and timing of repaying the principal;
6. Method and timing of paying interests;
7. The issuance value of bonds or the minimum value thereof;
8. The total amount of unredeemed bonds, if any, among bonds already issued;
9. If limited to a registered or bearer form, the purport thereof;
10. If a company is entrusted with the offering of bonds, its trade name and address.
(3) Paragraphs (1) and (2) shall not apply to the subscription to the total amount of bonds issued. The same shall also apply where the company entrusted with the offering of bonds subscribe to part of the bonds.
[This Article Wholly Amended on Jun. 26, 2009]
Article 22(Total amount of bonds to be issued) #
(1) The president may indicate in a bond subscription form that the bonds will be issued even if the total number of subscriptions received is less than the total amount of bonds to be issued as stated in the subscription form. In such cases, the total amount of the subscription shall be the total amount of the bonds to be issued.
(2) Upon completion of subscription to bonds under paragraph (1), the Corporation shall, without delay, have subscribers make a full payment for the bonds that they have subscribed to and shall not issue such bonds until the full payment is made.
(3) A person entrusted with the offering of bonds may conduct an act prescribed in paragraph (2) or Article 21(2) in his or her own name for the Corporation.
[This Article Wholly Amended on Jun. 26, 2009]
Article 23(Mandatory descriptions of bonds) #
A bond shall contain the matters specified in Article 21(2)2 through 6, the serial number, the date of issuance, and the name of the issuer, and shall be signed and seal affixed by the president.
[This Article Wholly Amended on Jun. 26, 2009]
Article 24(Bond register) #
(1) The Corporation shall keep a bond register in its main office and enter the following matters therein:
1. The number of bonds by title and serial numbers thereof;
2. Date of issuance of bonds;
3. Matters prescribed in Article 21(2)2 through 6 and 10.
(2) Where bonds are in registered form, the following matters shall also be entered in the bond register in addition to the matters specified in the subparagraphs of paragraph (1):
1. Name and address of the bond owner;
2. Date of acquisition of bonds.
(3) The owner or other right holder of bonds may request perusal of the bond register at any time during the business hours of the Corporation.
[This Article Wholly Amended on Jun. 26, 2009]
Article 25(Notice to bond subscribers) #
(1) Notices or peremptory notices to subscribers or right holders prior to the issue of bonds shall be sent to the address shown on the bond subscription form.
(2) Notices or peremptory notices to holders of registered bonds shall be sent to the address shown on the bond register; provided, if a different address has been notified to the Corporation, they shall be sent to that address.
(3) Notices or peremptory notices to holders of bearer bonds shall be made by means of public announcement; provided, notification may be made in lieu of public announcement if the address is known.
[This Article Wholly Amended on Jun. 26, 2009]
Article 26(Transfer of earned surplus reserves) #
If the Corporation intends to transfer earned surplus reserves and reserves for business expansion to its capital under Article 28(3) of the Act, it shall obtain approval therefor from the Minister of Planning and Budget following a resolution by the board of directors. <Amended on Dec. 30, 2025>
[This Article Wholly Amended on Jun. 26, 2009]
Article 26-2(Special cases concerning depreciation) #
(1) The Corporation shall depreciate agricultural infrastructure each fiscal year.
(2) If national subsidies, reserves for the maintenance and management of agricultural infrastructure under Article 30(2) of the Act, etc. have been used for the improvement, repair, maintenance and management of agricultural infrastructure, the Corporation may choose not to depreciate part of such agricultural infrastructure to the extent of the amount used when depreciating the agricultural infrastructure under paragraph (1).
[This Article Wholly Amended on Jun. 26, 2009]
Article 27(Financial institutions for borrowing) #
"Financial institutions" in Article 33 of the Act means the Bank of Korea and banks defined in Article 2(1)2 of the Banking Act. <Amended on Nov. 15, 2010>
[This Article Wholly Amended on Jun. 26, 2009]
Article 28(Loans from the Fund) #
The limits and conditions of loans under Article 34(1)1 through 5, 6 through 9 and 11 of the Act and those of loans for the projects specified in subparagraphs 6 and 7 of Article 31 of this Decree shall be determined by the Minister of Agriculture, Food and Rural Affairs in consultation with the Minister of Planning and Budget. The same shall also apply to any amendment thereto. <Amended on Mar. 23, 2013, Jul. 1, 2020, Dec. 30, 2025>
[This Article Wholly Amended on Jun. 26, 2009]
Article 29(Farmland creation projects by the Fund) #
The Minister of Agriculture, Food and Rural Affairs may require a local government or the Corporation to execute a farmland creation project or a project for the creation of agricultural infrastructure, which includes the creation of farmland, under Article 34(1)9 of the Act. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 30(Investment of the Fund) #
(1) The scope of investment under Article 34(1)4, 5-2, 8, 9, 9-2, and 11 of the Act shall be the development costs (referring to land survey and design costs, etc. excluding net construction costs, material costs, costs for purchase of sites and compensation, costs for construction supervision and basic survey costs) necessary for farmland redevelopment projects, projects for the management, repair, and reinforcement of reclaimed farmland and agricultural infrastructure used for agricultural production of reclaimed farmland, projects for the maintenance of marginal farmland, etc., farmland development projects, projects for the development of agricultural infrastructure including farmland development, large-scale agricultural development projects and overseas agricultural development projects. <Amended on Nov. 23, 2011; Jul. 1, 2020>
(2) A person who implements a project under Article 29 (hereafter referred to as "project implementer" in this Article) may request a person entrusted with the management of the Fund under Article 35(2) of the Act to subsidize development costs referred to in paragraph (1).
(3) Upon receipt of a request from a project implementer to subsidize development costs, a person entrusted with the management of the Fund may do so with approval from the Minister of Agriculture, Food and Rural Affairs. In such cases, the person entrusted with the management of the Fund may enter into a funding contract with the project implementer for the efficient management of the Fund. <Amended on Mar. 23, 2013>
(4) Where a project implementer who has completed a project with the subsidy for development under paragraph (3) sells, leases, or temporarily uses the land created by the project, he or she shall pay the sale price, rent, and temporary use fee to the Fund.
(5) Matters regarding the sale, lease, and temporary use of land and the disposal of the relevant proceeds from sale, rents, and temporary use fees under paragraph (4) shall be prescribed by the Minister of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 30-2(Scope of agricultural infrastructure) #
"Agricultural infrastructure prescribed by Presidential Decree, such as tide embankments, pumping stations, and drainage stations, utilized for agricultural production in reclaimed farmland" in Article 34(1)5-2b of the Act means tide embankments, pumping stations, drainage stations, reservoirs, freshwater lakes, intake weirs (water storage facilities designed to draw irrigation water from a river into a waterway), irrigation channels, drainage channels, banks, farm roads, irrigation canals, and ancillary facilities related to such facilities. <Amended on Jul. 2, 2019>
[This Article Added on Nov. 23, 2011]
Article 31(Other projects financed by the Fund) #
"Projects prescribed by Presidential Decree" in Article 34(1)13 of the Act means the following: <Amended on Dec. 15, 2009; Jul. 1, 2020; Aug. 1, 2023>
1. Surveys, tests, research, and public relations on the following matters:
a. Matters regarding the farmland system;
b. Matters regarding the preservation, use, and management of farmland;
c. Matters regarding the prevention of soil and groundwater pollution;
2. Collection and management of data related to agricultural structural improvement projects;
3. Prospective site surveys, basic surveys, tests, and studies for farmland redevelopment projects, farmland creation projects, or agricultural production infrastructure creation projects including farmland creation, and environmental impact assessments and post-environmental impact studies thereon;
4. Technical support for the designation and management of agricultural promotion areas;
5. Management and disposal of landfill, etc. created by an agricultural production infrastructure maintenance project implemented by the State under Article 14 of the Agricultural and Fishing Villages Improvement Act (including the agricultural production infrastructure maintenance project of the State implemented by local governments and the Corporation) and collection of sale proceeds;
6. Projects for purchasing and selling long-term leased reclaimed farmland, etc. and projects for supporting farmers who have changed their occupation in their return to farming under Articles 20 and 21 of the Act;
7. Purchase of farmland, the purchase of which is claimed under Article 11(2) of the Farmland Act;
8. Formulation of natural environment conservation measures, such as wetland conservation in a farmland expansion and development project area;
9. Maintenance of farmland purchased and managed by the Corporation.
[This Article Wholly Amended on Jun. 26, 2009]
Article 32(Subsidization by the Fund) #
(1) Projects eligible for subsidization by the Fund under Article 34(2) of the Act shall be those referred to in Article 34(1)5-2, 7, 8, 9-2, and 11 of the Act and subparagraphs 1 through 5 and 8 of Article 31 of this Decree. <Amended on Nov. 23, 2011; Jul. 1, 2020>
(2) A person who intends to receive a subsidy from the Fund under paragraph (1) shall submit to the Minister of Agriculture, Food and Rural Affairs an application for a subsidy, accompanied by a business plan stating the name, purpose, subject, period, details of the project, necessary expenses, the amount of a subsidy, etc. <Amended on Mar. 23, 2013>
(3) Upon receipt of an application under paragraph (2), the Minister of Agriculture, Food and Rural Affairs shall determine whether to grant a subsidy and notify the applicant of the result thereof. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 33(Deduction of expenses by the Fund) #
The scope of deficits that may be deductible at the expense of the Fund under Article 34(2) of the Act shall be as follows; provided, deficits attributable to the project implementer shall be excluded: <Amended on Nov. 23, 2011; Mar. 23, 2013>
1. Deficits arising from the implementation of the projects under Article 34(1)1 through 3, 5, 6, 7, and 11 of the Act or the projects under subparagraphs 6 and 7 of Article 31 of this Decree;
2. Deficits arising from the sale of land, etc. by a person who has performed a farmland redevelopment project, a project for developing marginal farmland, etc., or a farmland creation project with the funds under Article 34(1)4,8, and 9 of the Act for a price insufficient to cover the total project cost;
3. Deficits arising from natural disasters or other unavoidable reasons recognized by the Minister of Agriculture, Food and Rural Affairs during the implementation of the projects under Article 34(1)1 through 5 and 6 through 9 of the Act and projects under subparagraphs 6 and 7 of Article 31 of this Decree.
[This Article Wholly Amended on Jun. 26, 2009]
Article 34(Opening of Fund account) #
(1) The Minister of Agriculture, Food and Rural Affairs shall open a Fund account with the Bank of Korea to clarify revenues and expenditures of the Fund. <Amended on Mar. 23, 2013>
(2) The Corporation entrusted with accounting, etc. regarding the operation and management of the Fund under Article 35(1) shall open a Fund account with a financial institution referred to in the proviso of Article 35(2) of the Act to clarify revenues and expenditures of the Fund.
[This Article Wholly Amended on Jun. 26, 2009]
Article 35(Entrustment of business affairs of the Fund) #
(1) The Minister of Agriculture, Food and Rural Affairs shall entrust the following business affairs to the Corporation under Article 35(2) of the Act: <Amended on Nov. 23, 2011; Mar. 23, 2013; Jul. 1, 2020>
1. Accounting regarding operation and management of the Fund;
2. Business affairs regarding the collection and management of charges for the preservation of farmland under subparagraph 4 of Article 32 of the Act;
3. Business affairs prescribed by the Minister of Agriculture, Food and Rural Affairs in relation to loans and investments under Article 34(1)1 through 5, 5-2, 6 through 9, 9-2 and 11 of the Act and subparagraphs 6 and 7 of Article 31 of this Decree;
4. Management of surplus funds under Article 34(3) of the Act;
5. Other business affairs regarding the management and operation of the Fund, as prescribed by the Minister of Agriculture, Food and Rural Affairs.
(2) The Corporation entrusted with accounting, etc. regarding the operation and management of the Fund under paragraph (1) (hereinafter referred to as "Fund trustee") shall keep the accounts of the Fund separate from other accounts to ensure clear operation and management of the Fund.
[This Article Wholly Amended on Jun. 26, 2009]
Article 36 #
Deleted. <Apr. 28, 2006>
Article 37 #
Deleted. <Apr. 28, 2006>
Article 38 #
Deleted. <Apr. 28, 2006>
Article 39(Duties of accounting institution for the Fund) #
Accounting institutions for the Fund shall perform the following duties:
1. A revenue collecting officer of the Fund: Administrative affairs regarding the collection of revenue of the Fund;
2. A financier of the Fund: Administrative affairs regarding encumbrances of the Fund and management of its property;
3. A disbursement officer of the Fund: Administrative affairs regarding expenditures of the Fund;
4. An accounting official of the Fund: Administrative affairs regarding the custody, receipt and disbursement of national funds, deposits, goods and securities.
[This Article Wholly Amended on Jun. 26, 2009]
Article 40(Settlement of accounts of the Fund) #
(1) The Fund trustee shall prepare a statement of accounts for the Fund every fiscal year and submit it to the Minister of Agriculture, Food and Rural Affairs by the 15th day of February of the next fiscal year. <Amended on Mar. 23, 2013>
(2) Articles 14 and 15-2(2) of the National Accounting Act shall apply to the statement of accounts of the Fund referred to in paragraph (1) and accompanying documents. <Amended on Oct. 6, 2015>
[This Article Wholly Amended on Jun. 26, 2009]
Article 41 #
Deleted. <Dec. 31, 2002>
Article 42(Gratuitous transfer of created land) #
(1) The property that the Minister of Agriculture, Food and Rural Affairs may gratuitously transfer to the Corporation under Article 44 of the Act shall be landfill, reclaimed land, developed land, borrow-pits (where soil is dug up for use), other land equivalent thereto, artificial structures, trees, and other objects deemed necessary to achieve the purpose of its establishment. <Amended on Mar. 23, 2013>
(2) Where the Corporation intends to acquire property without consideration under paragraph (1), it shall file with the Minister of Agriculture, Food and Rural Affairs an application for transfer, accompanied by a list of such property and other required documents. <Amended on Mar. 23, 2013>
(3) Matters necessary for applying for transfer under paragraph (2) shall be prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 43(Registration of agricultural infrastructure management right) #
(1) Where the Corporation intends to register a management right to agricultural infrastructure under Article 45(2) of the Act, it shall submit an application for registration of a management right to agricultural infrastructure to the Minister of Agriculture, Food and Rural Affairs, as prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs. <Amended on Mar. 23, 2013>
(2) Where the original form of agricultural infrastructure, which serves as the basis for an agricultural infrastructure management right registered under paragraph (1), is changed or abolished for such reasons as discontinuance, etc. of all or part of such agricultural infrastructure, the Corporation shall, without delay, apply for registration of change or cancelation of the agricultural infrastructure management right.
(3) Upon receipt of an application for registration under paragraphs (1) and (2) and registration thereof in the register, the Minister of Agriculture, Food and Rural Affairs shall issue a registration certificate to the Corporation. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Jun. 26, 2009]
Article 43-2(Institutions providing data and information and scope thereof) #
(1) Institutions providing data and information and scope thereof under the latter part of Article 47(1) of the Act shall be classified as follows: <Amended on May 9, 2022, Oct. 1, 2025>
1. Supreme Court: A certificate of land registration under the Real Estate Registration Act;
2. Ministry of the Interior and Safety: Electronic data on resident registration under the Resident Registration Act;
3. Ministry of Agriculture, Food and Rural Affairs: The following data and information:
a. Agricultural business information of agricultural business entities registered under the Act on Fostering and Supporting Agricultural and Fisheries Business Entities;
b. Data on public direct payments under the Act on Operation of Direct Payment Program for Promoting Public Functions of Agriculture and Rural Communities;
c. A farmland register under the Farmland Act;
4. Ministry of Land, Infrastructure, and Transport: The following data:
a. Cadastral records and comprehensive real estate records under the Act on the Establishment and Management of Spatial Data;
b. Officially announced price of reference land under the Act on the Public Announcement of Real Estate Values;
c. Data on real estate transactions reported under the Act on Report on Real Estate Transactions;
5. The Ministry of Data and Statistics: Data related to surveys on the farm household economy and the production cost of agricultural and livestock products conducted and published by statistics service agencies under the Statistics Act;
6. Local governments: The following data:
a. Data on the current status of farmland, among public property under the Public Property and Commodity Management Act;
b. Officially assessed individual land price under the Act on the Public Announcement of Real Estate Values;
7. The National Pension Service, the Government Employees Pension Service, the Korea Teachers Pension, and the Korea Workers' Compensation and Welfare Service: Data on benefits for members under the National Pension Act, the Public Officials Pension Act, the Pension for Private School Teachers and Staff Act, and the Industrial Accident Compensation Insurance Act;
Article 44(Processing of personally identifiable information) #
The Korea Rural Community Corporation may manage data containing resident registration numbers under subparagraph 1 of Article 19 of the Enforcement Decree of the Personal Information Protection Act, if it is inevitable to conduct the following projects or business affairs: <Amended on Jul. 1, 2020>
1. Projects or business affairs regarding purchase, sale, etc. of farmland under Articles 18, 24-2, and 24-3 of the Act;
2. Projects for long-term lease of farmland under Article 19 of the Act;
3. Business affairs for supporting farmers who have changed occupation in their return to farming under Article 21 of the Act;
4. Business affairs regarding exchange, division, consolidation, etc. of farmland under Article 22 of the Act;
5. Business affairs regarding entrustment of lease, etc. of farmland under Article 24-4 of the Act;
6. Business affairs regarding provision of funds for a financially stable life after retirement under Article 24-5 of the Act.
[This Article Added on Jan. 6, 2012]
Article 44-2 #
Deleted. <Dec. 30, 2016>
Article 45(Criteria for imposition of administrative fines) #
Criteria for imposing administrative fines under Article 52(1) of the Act shall be as specified in Appendix 2.
[This Article Wholly Amended on Jun. 26, 2009]