Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the Economic Development Cooperation Fund Act and matters necessary for the enforcement thereof.
[This Article Wholly Amended on Sep. 7, 2012]
Article 2 #
Deleted. <Jul. 2, 2024>
Article 3 #
Deleted. <Jul. 2, 2024>
Article 4(Entrustment of affairs concerning operation and management of fund) #
(1) The Minister of Finance and Economy shall entrust the President of the Export-Import Bank of Korea to handle affairs concerning the operation and management of the Economic Development Cooperation Fund (hereinafter referred to as the "Fund") in accordance with Article 9(2) of the Economic Development Cooperation Fund Act (hereinafter referred to as the "Act"). In such cases, expenses incurred in handling affairs concerning such operation and management shall be borne by the Fund. <Amended on Dec. 30, 2025>
(2) Where the President of the Export-Import Bank of Korea handles any affairs entrusted pursuant to paragraph (1), he or she shall take necessary measures for the efficient operation of the Fund and owe the duty of care as a good fiduciary in handling such affairs.
[This Article Wholly Amended on Sep. 7, 2012]
Article 5(Composition of Committee) #
(1) The Fund Management Committee established under Article 10 of the Act (hereinafter referred to as the "Committee") shall be composed of the following members: <Amended on Mar. 23, 2013; Jul. 26, 2017; Oct. 1, 2025; Dec. 30, 2025>
1. The Minister of Finance and Economy;
2. The Minister of Science and ICT;
3. The Minister of Foreign Affairs;
4. The Minister of Agriculture, Food and Rural Affairs;
5. The Minister of Trade, Industry and Resources;
6. The Minister of Health and Welfare;
7. The Minister of Land, Infrastructure and Transport;
8. The Minister of Oceans and Fisheries;
8-2. The Vice Minister of Planning and Budget;
9. The Minister of Office for Government Policy Coordination;
10. The Senior Secretary to the President for Economic Affairs;
11. The First Deputy Director of the National Intelligence Service;
12. The President of the Export-Import Bank of Korea;
13. The President of the Korea International Cooperation Agency.
(2) The Minister of Finance and Economy shall chair the Committee meetings (hereinafter referred to as the "Chairperson"). <Amended on Dec. 30, 2025>
[This Article Wholly Amended on Sep. 7, 2012]
Article 6(Duties of chairperson) #
(1) The Chairperson shall represent the Committee and preside over its meetings and affairs.
(2) Where the Chairperson is unable to perform any of his or her duties due to unavoidable circumstances, a member of the Committee designated in advance by the Chairperson shall perform his or her duties on his or her behalf.
[This Article Wholly Amended on Sep. 7, 2012]
Article 7(Operation of Committee) #
(1) A meeting of the Committee (hereinafter referred to as "meeting") shall be convened by the Chairperson when the Chairperson deems it necessary or upon request by a ministerial member of the Committee.
(2) A quorum for meetings of the Committee shall be at least 2/3 of the members including the Chairperson, and any resolution thereof shall require the concurring vote of a majority of those present.
(3) Where necessary for deliberation by the Committee, the Chairperson may request the heads of related central administrative agencies and other relevant agencies to attend its meetings and present their opinions.
[This Article Wholly Amended on Sep. 7, 2012]
Article 8(Submission of agenda items) #
The Minister of Finance and Economy shall prepare agenda items involving the following and submit them to the Committee: <Amended on Dec. 30, 2025>
1. An assistance plan for important programs under the proviso to Article 11(1)5;
2. A Fund management plan under Article 12(1);
3. A report on final accounts under Article 13(1);
4. Important matters in the Fund Operation and Management Regulations under Article 20(2).
[This Article Wholly Amended on Sep. 7, 2012]
Article 9(Administrative secretary of Committee) #
(1) The Committee shall have 1 executive secretary and the executive secretary shall become the Director General in charge of affairs of Economic Development Cooperation Fund of the Ministry of Finance and Economy. <Amended on Feb. 27, 2018; Dec. 30, 2025>
(2) The administrative secretary shall handle administrative affairs of the Committee under the supervision of the Chairperson.
[This Article Wholly Amended on Sep. 7, 2012]
Article 10(Operational rules of Committee) #
In addition to the matters provided for in this Decree, detailed matters necessary for the operation of the Committee shall be determined by the Chairperson upon resolution by the Committee.
[This Article Wholly Amended on Sep. 7, 2012]
Article 11(Procedures for assistance from fund) #
(1) Assistance from the Fund at the request of the government of a developing country shall be made based on the following procedures: <Amended on Mar. 23, 2013; Jul. 26, 2017; Jul. 2, 2024; Oct. 1, 2025; Dec. 30, 2025>
1. When the Minister of Foreign Affairs or any government delegate under the Act on the Appointment and Powers of Government Delegates and Special Envoys receives a request for assistance from the government of a developing country, he or she shall inform the Minister of Finance and Economy of the content thereof via the Minister with jurisdiction over the program for which such request for assistance has been made (hereinafter referred to as "program");
2. When the Minister with jurisdiction over the relevant program receives a request for assistance from the government of the developing country, he or she shall inform the Minister of Finance and Economy of the details thereof via the Minister of Foreign Affairs;
3. When the Minister of Finance and Economy receives a notice in accordance with subparagraph 1 or 2, he or she shall notify the heads of related central administrative agencies of the details thereof and request the President of the Export-Import Bank of Korea to examine the program;
4. When the President of the Export-Import Bank of Korea receives a request for examination of the program in accordance with subparagraph 3, he or she shall submit an examination report that states the feasibility and validity of, and the amount, conditions, etc. of assistance to, such program with the necessary help of related agencies to the Minister of Finance and Economy;
5. The Minister of Finance and Economy shall determine an assistance plan that includes the amount, conditions, etc. of assistance for the relevant program in consultation with the Minister of Science and ICT, the Minister of Foreign Affairs, the Minister of Trade, Industry and Resources, the Minister of Planning and Budget, and the Minister with jurisdiction over the program; provided, determination of an assistance plan for an important program prescribed by Decree of the Ministry of Finance and Economy shall be determined through deliberation by the Committee;
6. The Minister of Finance and Economy shall notify the Minister of Foreign Affairs, the Minister with jurisdiction over the program, the heads of related central administrative agencies, and the President of the Export-Import Bank of Korea of the assistance pan determined in accordance with subparagraph 5;
7. The Minister of Foreign Affairs shall notify the government of the relevant developing country of the assistance plan notified the Minister of Finance and Economy, and shall conclude an agreement between the governments;
Article 12(Fund management plan) #
The Minister of Finance and Economy shall prepare and submit a Fund management plan or revise any existing Fund management plan in accordance with the National Finance Act. <Amended on Dec. 30, 2025>
[This Article Wholly Amended on Sep. 7, 2012]
Article 13(Financial report) #
Each fiscal year, the Minister of Finance and Economy shall prepare and submit a report on final accounts of the Fund in accordance with the National Finance Act. <Amended on Dec. 30, 2025>
[This Article Wholly Amended on Sep. 7, 2012]
Article 14(Management of surplus funds) #
"Other methods prescribed by Presidential Decree" in subparagraph 4 of Article 12 of the Act means either of the following:
1. Depositing surplus funds in international financial organizations or foreign financial companies;
2. Purchasing securities issued abroad.
[This Article Wholly Amended on Sep. 7, 2012]
Article 15(Establishment of account of fund) #
(1) The Minister of Finance and Economy shall establish an account for the Economic Development Cooperation Fund at the Bank of Korea to clarify revenue and expenses of the Fund. <Amended on Jun. 27, 2023; Dec. 30, 2025>
(2) In addition to the accounts established in accordance with paragraph (1), the Minister of Finance and Economy may establish an account capable of receiving and disbursing foreign currency in a treasury bank under the proviso of Article 12(1) of the Management of the National Funds Act in order to efficiently conduct foreign exchange transactions of the Fund. <Added on Jun. 27, 2023; Dec. 30, 2025>
[This Article Wholly Amended on Sep. 7, 2012]
Article 16(Revenues and expenses of fund) #
(1) The revenues of the Fund shall consist of contributions, borrowings, deposits received from the Public Capital Management Fund under the Public Capital Management Fund Act, recoveries, interest, dividends, and other income generated from the operation of the Fund. <Amended on Jul. 2, 2024>
(2) The expenditures of the Fund shall consist of loans, equity investments, repayment of principal and interest, and other expenses necessary for the operation and management of the Fund. <Amended on Jul. 2, 2024>
[This Article Wholly Amended on Sep. 7, 2012]
Article 17(Fiscal year of fund) #
The fiscal year of the Fund shall coincide with that of the Government.
[This Article Wholly Amended on Sep. 7, 2012]
Article 18(Accounting standards of fund) #
(1) The President of the Export-Import Bank of Korea shall establish accounts for the Fund, separate from the other accounts of the Export-Import Bank of Korea.
(2) The accounting standards of the Fund shall conform with the business accounting principles.
[This Article Wholly Amended on Sep. 7, 2012]
Article 19(Reporting of funding and management conditions of fund) #
The President of the Export-Import Bank of Korea shall report quarterly funding and management conditions of the Fund to the Minister of Finance and Economy within 20 days after the end of each quarter. <Amended on Dec. 30, 2025>
[This Article Wholly Amended on Sep. 7, 2012]
Article 20(Fund operation and management regulations) #
(1) The Minister of Finance and Economy shall prepare Fund Operation and Management Regulations including the following: <Amended on Feb. 29, 2016; Dec. 30, 2025>
1. Matters regarding investments such as investment methods;
2. Matters regarding loans, such as their types, interest rates, repayment schedules, and methods of principal and interest collection;
3. Matters regarding methods and procedures for compensating for losses under subparagraph 5 of Article 7 of the Act;
4. Other matters necessary for the operation and management of the Fund.
(2) When the Minister of Finance and Economy formulates the Fund Operation and Management Regulations under paragraph (1), important matters related to basic policies on the operation and management of the Fund shall be reviewed by the Committee. The same shall also apply where he or she intends to revise the aforesaid Regulations. <Amended on Dec. 30, 2025>
[This Article Wholly Amended on Sep. 7, 2012]