Article 1(Purpose) #
The purpose of this Decree is to prescribe matters necessary for the enforcement of the Price Stabilization Act (hereinafter referred to as the "Act"), which are necessary for the enforcement thereof. <Amended on Mar. 30, 1995; Jun. 11, 2007>
Article 2(Designation and lifting of price ceiling) #
(1) The competent Minister shall designate and lift the price ceiling under Article 2(1) through (3) of the Act; provided, the Minister of Finance and Economy shall designate and lift the price ceiling on items for which the jurisdiction is not clear, or where the jurisdiction involves at least 2 ministries. <Amended on Dec. 23, 1994; Jan. 29, 1999; Feb. 29, 2008; Dec. 30, 2025>
(2) The price ceiling under paragraph (1) shall be designated in the following cases: <Added on Jan. 29, 1999>
1. In case of major disturbances in supply or sudden surge in prices of certain goods or services essential for the public caused by a financial and economic crisis such as a sudden increase in international prices for raw materials or changes in the exchange rate;
2. In case of major disturbances in supply or sudden surge in the prices of certain goods or services which are essential for the public caused by natural disasters, terrestrial upheaval, internal crisis, external crisis, or other comparable circumstances;
3. Where it is necessary to secure stability in the lives of the public who consume goods have undergone sudden changes in supply and demand, or to ensure the sound restructuring of the industries which are manufacturing such goods.
Article 3(Public notice of designated ceiling price) #
(1) When the competent Minister (in the case of the proviso of Article 2(1), the Minister of Finance and Economy shall be responsible for, and hereafter in this Article and Article 4 the same shall apply) has designated or lifted the ceiling price under Article 2, the competent Minister shall give a public notice thereof without delay, under Article 2(4) of the Act. <Amended on Dec. 23, 1994; Jan. 29, 1999; Jun. 11, 2007; Feb. 29, 2008; Dec. 30, 2025>
(2) When the competent Minister publicly notifies the designation or the lift of the ceiling price in accordance with paragraph (1), the competent Minister shall make clear the commodity involved, its trading stage and area, and other necessary details.
Article 4(Ceiling price adjustment) #
(1) When the competent Minister deems it necessary to adjust the ceiling price, as designated in accordance with the provisions of Article 2, due to changing of economic conditions, raw material price fluctuations, etc., the competent Minister may make such ceiling price adjustments.
(2) Upon adjusting the ceiling price in accordance with the provisions of paragraph (1), the competent Minister shall, without delay, publicly notify the contents of the adjustment.
Article 5(Posting of prices) #
(1) When the competent Minister or the Special Metropolitan City Mayor, a Metropolitan City Mayor, a Metropolitan City Mayor, a Special Self-Governing City Mayor, a Do Governor, or a Special Self-Governing Province Governor (hereinafter referred to as "Mayor/Do Governor") orders to indicate the price of goods or the price of services pursuant to Article 3 of the Act, he or she shall publicly notify those subject to indication, persons obligated to indicate prices, and other matters necessary for such indication. <Amended on Sep. 8, 2020>
(2) Any person in receipt of an order to indicate the price of goods or the price of services pursuant to paragraph (1) shall indicate the price of the relevant goods or the price of the relevant services in a manner easily understandable to the other party to transaction or ordinary consumers. <Amended on Sep. 8, 2020>
Article 6(Calculation principles of public utilities charges) #
(1) Public utilities charges under Article 4(1) of the Act shall be determined at the level of compensating the total cost incurred in providing the relevant projects or articles (hereafter referred to as "public services" in this Article); provided, where the competent Minister deems that it is reasonable to follow another calculation method, such calculation method may be adopted in consultation with the Minister of Finance and Economy. <Amended on Dec. 30, 2025>
(2) The total cost under paragraph (1) shall be the sum of reasonable cost incurred in providing the relevant public services and reasonable investment charges concerning the assets used in providing the relevant public services, on the presumption that a provider of public services operates his or her business conscientiously and efficiently.
(3) The period subject to the calculation of public utilities charges shall be one fiscal year, and the competent Minister may flexibly adjust the period in consideration of the stability of public utilities charges, price fluctuations, other changes in economic situations, etc.
(4) Reasonable cost and reasonable investment charges under paragraph (2) and other detailed standards necessary for the calculation of public utilities charges shall be determined by the Minister of Finance and Economy. <Amended on Dec. 30, 2025>
(5) The competent Minister shall determine the standards for calculating individual public utilities charges in accordance with paragraphs (1) through (4). In such cases, the Minister shall consult, in advance, with the Minister of Finance and Economy and this shall also apply where he or she intends to amend the standards. <Amended on Dec. 30, 2025>
[This Article Added on Jun. 29. 2010]
Article 7 #
Deleted. <Apr. 1, 1981>
Article 8 #
Deleted. <Apr. 1, 1981>
Article 9 #
Deleted. <Apr. 1, 1981>
Article 10 #
Deleted. <Apr. 1, 1981>
Article 11 #
Deleted. <Apr. 1, 1981>
Article 12(Notification and investigation of price ceiling) #
(1) When the competent Minister has designated, adjusted or lifted the price ceiling in accordance with Article 2 and 4(1), he or she shall promptly report it to the Commissioner of the National Tax Service.
(2) Where the competent Minister deems it necessary to investigate actual transaction conditions in respect of the price ceiling of paragraph (1), he or she may request the Commissioner of the National Tax Service to conduct such investigation. <Amended Jun. 23, 1997>
(3) Where the Commissioner of the National Tax Service conducts an investigation as requested by the competent Minister under paragraph (2), he or she shall report the result thereof to the Minister of Finance and Economy and to the competent Minister without delay. <Added on Jun. 23, 1997; Jan. 29, 1999; Feb. 29, 2008; Dec. 30, 2025>
[This Article Wholly Amended on Apr. 1, 1981]
Article 12-2(Imposition and payment of penalty surcharge) #
(1) When the Minister of Finance and Economy intends to impose a penalty surcharge in accordance with Article 2-2(1) of the Act, he or she shall specify and notify in writing reasons for imposition and the amount of a penalty surcharge, etc. and demand the payment thereof. <Amended on Feb. 29, 2008; Dec. 30, 2025>
(2) Any person in receipt of notification in accordance with paragraph (1) shall pay the penalty surcharge to the receiving agency designated by the Minister of Finance and Economy within 60 days from the date of receipt of such notification. <Amended on Feb. 29, 2008; Dec. 12, 2023; Dec. 30, 2025>
(3) The receiving agency which has received a penalty surcharge under paragraph (2) shall issue a receipt to the payer.
(4) The receiving agency shall, when it has received a penalty surcharge in accordance with paragraph (2), notify, without delay, the Minister of Finance and Economy of such fact. <Amended on Feb. 29, 2008; Dec. 30, 2025>
(5) Deleted. <Sep. 24, 2021>
[This Article Added on Jun. 11, 2007]
Article 12-3 #
Deleted. <Aug. 25, 2009>
Article 12-4 #
Deleted. <Aug. 25, 2009>
Article 12-5 #
Deleted. <Aug. 25, 2009>
Article 12-6 #
Deleted. <Aug. 25, 2009>
Article 12-7 #
Deleted. <Aug. 25, 2009>
Article 13(Emergency demand and supply adjustment measures) #
(1) The competent Minister shall take emergency demand and supply adjustment measures, as prescribed in Article 6(1) of the Act.
(2) When the competent Minister intends to take an emergency demand and supply adjustment measure in accordance with the provisions of paragraph (1), he shall publicly notify the contents, enforcement period, and reasons for that measure.
(3) The emergency demand and supply adjustment measures under paragraph (1) shall be implemented in the following cases: <Added on Jan. 29, 1999>
1. Where adjustment of demand and supply of a certain good is necessary because the natural adjustment of demand and supply is paralysed and the distribution system is disturbed as a result of a shortage of supply or sudden price hikes of certain goods caused by a financial and economic crisis such as a sudden increase in the international price of raw materials or changes in the exchange rate;
2. Where adjustment of demand and supply of certain goods is necessary because the natural adjustment of demand and supply is paralysed and the distribution system is disturbed as a result of a shortage of supply or sudden price hikes of certain goods due to an internal crisis, external crisis, natural disasters, terrestrial upheaval, or other comparable circumstances.
Article 14(Designation of cornering and hoarding practices) #
(1) When the Minister of Finance and Economy designates cornering and hoarding practices under Article 7 of the Act, he or she may classify and designate cornering and hoarding practices applicable commonly to all business fields, as well as cornering and hoarding practices applicable to specific business fields. <Amended on Dec. 23, 1994; Mar. 30, 1995; Jan. 29, 1999; Feb. 29, 2008; Dec. 30, 2025>
(2) When the Minister of Finance and Economy has designated cornering and hoarding practices under paragraph (1), he shall give public notice thereof. <Amended on Dec. 23, 1994; Mar. 30, 1995; Jan. 29, 1999; Feb. 29, 2008; Dec. 30, 2025>
[Title Amended on Mar. 30, 1995]
Article 15(Methods of public notice) #
Public notices under Article 3(1), 4(2), 5(1), 13(2) and 14(2) shall be published in the Official Gazette or Gazette; provided, if it is deemed necessary, such public notification may be substituted by posting in the daily newspaper or the website of the relevant area or notifying the relevant persons. <Amended on Apr. 1, 1981; Sep. 8, 2020; Nov. 24, 2020>
Article 16 #
Deleted. <Apr. 1, 1981>
Article 17 #
Deleted. <Mar. 30, 1995>
Article 18(Notification of violation) #
(1) Any person, having perceived an enterpriser who violates the provisions of Article 7 of the Act, or who commits a cornering and hoarding practice in violation of an order, issued under Article 9 of the Act, may notify clarified details of such violations to the competent Minister. <Amended on Apr. 1, 1981; Mar. 30, 1995>
(2) When the competent Minister receives a notification under paragraph (1), he shall notify the Minister of Finance and Economy of the results of the measures after confirming whether there is any violation of the Acts and taking any proper measures. <Amended on Dec. 23, 1994; Mar. 30, 1995; Jan. 29, 1999; Feb. 29, 2008; Dec. 30, 2025>
(3) The provisions of paragraph (2) shall also apply when the competent Minister perceives an enterpriser to be in violation of paragraph (1).
Article 19(Consultation, coordination, hearing of opinions of Coordination Council for Economic Policies) #
(1) The following matters shall, in accordance with Article 13 of the Act, undergo consultation and coordination by the Ministerial Meeting on the Economy under the Regulations on the Ministerial Meeting on the Economy: <Amended on Apr. 5, 2013>
1. Designation and abrogation of the price ceilings under Article 2 of the Act;
2. Emergency demand and supply adjustment measures and cancellation thereof under Article 6 of the Act.
(2) The chairperson of the Coordination Council for Economic Policies may, when deemed necessary in performing consultation and coordination under paragraph (1), have interested persons attend the Coordination Council for Economic Policies, or consider their opinions in writing.
(3) The Minister of Finance and Economy may, when deemed necessary for consultation and coordination under paragraph (1), seek advice from experts in regard to the matters under the subparagraphs of paragraph (1). <Amended on Dec. 30, 2025>
[This Article Wholly Amended on Aug. 25, 2009]
Article 20 #
Deleted. <Aug. 25, 2009>
Article 21 #
Deleted. <Dec. 31, 1992>
Article 22 #
Deleted. <Aug. 25, 2009>
Article 23(Order for submission of data) #
(1) In the following cases, the order to submit a report or relevant data with regard to production costs and management conditions under Article 16(1) of the Act shall be made by a document, clearly stating the details to be included and a time limit for submission: <Amended on Jan. 29, 1999>
1. Where such report is necessary to verify whether the ceiling price as designated under Article 2 of the Act is respected;
2. Where such report is necessary to verify whether the order to label the price under Article 3 of the Act is observed;
3. Where such report is necessary for the enforcement of the emergency demand and supply adjustment measures under Article 6 of the Act;
4. Where such report is necessary to prevent cornering and hoarding practice under Article 7 of the Act.
(2) The Minister of Finance and Economy, the competent Minister, or a Mayor/Do Governor may order an enterpriser to submit relevant data on cost and management status on a regular or occasional basis in accordance with Article 16(1) of the Act. <Amended on Dec. 23, 1994; Jan. 29, 1999; Feb. 29, 2008; Sep. 8, 2020; Dec. 30, 2025>
(3) An inspection under Article 16(1) of the Act may be conducted in cases falling under the subparagraphs of paragraph (1), and the competent Minister or Mayor/Do Governor shall notify the Minister of Finance and Economy of the results thereof after conducting an inspection. <Amended on Sep. 8, 2020; Dec. 30, 2025>
Article 24 #
Deleted. <Dec. 30, 2016>
Article 25(Delegation of authority) #
The competent Minister shall delegate the following authority to the Minister of the Korea Forest Service or the Mayor/Do Governor under Article 20 of the Act: <Amended on Apr. 1, 1981; Dec. 31, 1992; Mar. 30, 1995; Jun. 23, 1997; Dec. 12, 1998; Jun. 12, 2007; Jun. 11, 2007; Oct. 23, 2007; Aug. 25, 2009; Sep. 8, 2020; Oct. 1, 2025>
1. Among the authority to designate, lift, or adjust a price ceiling in accordance with Article 2(1) and (3) and 4 of the Act, and the authority concerning orders and inspections related thereto under Article 16(1) of the Act, the authority governing forest products and the authority governing imposition, collection of administrative fines related thereto under Article 29(2) of the Act shall be delegated to the Minister of Korea Forest Service;
2. The authority to designate a person obligated to indicate prices (limited to the authority to designate an enterpriser separately determined and publicly notified by the competent Minister) out of the authority to issue orders to label prices under Article 3 of the Act (excluding the authority exercised by the Mayor/Do Governor on his or her own; hereafter the same shall apply in this Article) shall be delegated to the Mayor/Do Governor;
3. The authority to issue orders and to conduct inspections under Article 16(1) of the Act (limited to the authority to issue orders to, or to conduct inspections on, enterprisers separately determined and publicly notified by the competent Minister) in relation to the authority to issue orders to label prices under Article 3 of the Act and the authority to impose and collect administrative fines under Article 29(2) of the Act in relation thereto shall be delegated to Mayors/Do Governors;
4. Out of the authority to impose and collect administrative fines under Article 29(2) of the Act in relation to Article 29(1)1 of the Act, the authority to impose and collect administrative fines on enterprisers separately determined and publicly notified by the competent Minister shall be delegated to the Mayor/Do Governor;
5. The following authority shall be delegated to the Mayor/Do Governor; in such cases, classifications of the type of business shall be based on the standard classification publicly notified by the Minister of Data and Statistics under Article 22 of the Statistics Act:
a. Authority regarding lodging and restaurant business, storage and warehousing business, real estate leasing business, and real estate-related service business, among the authority to issue orders and conduct inspections under Article 16(1) of the Act;
Article 25-2(Standards for imposing administrative fines) #
The standards for imposing administrative fines under Article 29(1) and (2) of the Act shall be as specified in the Appendix.
[This Article Wholly Amended on Sep. 20, 2024]
Article 26(Detailed matters) #
Detailed matters necessary for the implementation of this Decree shall be determined by the Minister of Finance and Economy. <Amended on Dec. 23, 1994; Jan. 29, 1999; Feb. 29, 2008; Dec. 30, 2025>