Article 1(Purpose) #
The purpose of this Decree is to prescribe the matters delegated by the Chambers of Commerce and Industry Act and other matters necessary for the enforcement thereof.
Article 2(Consent to incorporation) #
(1) Where promoters seek to incorporate a chamber of commerce and industry under Article 6(1) of the Chambers of Commerce and Industry Act (hereinafter referred to as the "Act"), they shall prepare a written statement containing the following information and obtain consent thereto from persons eligible for membership of such chamber of commerce and industry:
1. Justification for incorporation;
2. Jurisdictional areas;
3. Summary of business plans;
4. Budget for the initial business year.
(2) A person shall demonstrate his or her consent to incorporation of a chamber of commerce and industry by writing his or her name on the written statement referred to in paragraph (1) and affixing his or her seal thereto.
Article 3(Calling inaugural meeting) #
(1) Upon the promotion and consent referred to in Article 6(1) of the Act, promoters shall, without delay, call the inaugural meeting.
(2) Where promoters seek to call the inaugural meeting, they shall send a calling notice specifying the purpose, date and time, and location of the meeting, together with the draft articles of association, to those who have consented to the incorporation of the chamber of commerce and industry, at least 15 days prior to the date scheduled for holding the inaugural meeting.
Article 4(Proceedings of inaugural meeting) #
A majority of those who have consented to the incorporation of a chamber of commerce and industry shall constitute a quorum for its inaugural meeting, which shall pass resolutions by the concurrent vote of a majority of those present.
Article 5(Application for authorization of incorporation) #
After the inaugural meeting, promoters shall, without delay, file with the Special 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") an application for authorization for incorporating the chamber of commerce and industry, accompanied by the following documents: <Amended on Mar. 23, 2013; Sep. 8, 2020>
1. Articles of association;
2. Minutes of the inaugural meeting;
3. Business plans;
4. Budget for the initial business year;
5. List of those who have consented to the incorporation of the chamber of commerce and industry.
Article 6(Initial councilor election) #
Upon receipt of the authorization for incorporation under Article 6(1) of the Act, promoters shall hold an election for councilors and special councilors under Article 22(1) of the Act (hereinafter referred to as "councilor election") within three months from the date of receipt of such authorization.
Article 7(Initial general meeting of councilors) #
(1) Promoters shall, without delay, call a general meeting of councilors after holding a councilor election.
(2) Officers referred to in Article 27 of the Act shall be elected at the general meeting of councilors under paragraph (1).
(3) Promoters shall transfer all their duties to the officers elected under paragraph (2), by no later than 15 days after the general meeting of councilors ends.
Article 8(Registration for incorporation) #
(1) The president of a chamber of commerce and industry elected under Article 7(2) shall register the incorporation of the chamber of commerce and industry by no later than one month after the general meeting of councilors ends.
(2) In applying for the registration for incorporation under paragraph (1), a copy of the authorization to incorporate the chamber of commerce and industry granted by the Mayor/Do Governor shall be attached, accompanied by a copy of the articles of association. <Amended on Mar. 23, 2013; Sep. 8, 2020>
Article 9(Applications for authorization to modify articles of association) #
Where a chamber of commerce and industry seeks to obtain authorization for modifying its articles of association under Article 7(2) of the Act, it shall submit to the Mayor/Do Governor an application for authorization to modify the articles of association, together with the reasons to modify the articles of association and a copy of the minutes of the general meeting of councilors that has passed a resolution to modify the articles of association. <Amended on Mar. 23, 2013; Sep. 8, 2020>
Article 10(Method for calculating amount to be added in output tax amount) #
The amount to be added in the output tax amount under Article 37 of the Value-Added Tax Act pursuant to Article 10(3) of the Act shall be obtained by multiplying the tax rate referred to in Article 30 of the Value-Added Tax Act by the value of supply under Article 29 of the same Act as regards the supply of goods or services subject to the application of the zero tax rate under Articles 21 through 25 of the same Act or exempted from taxation under Articles 26 and 27 of the same Act. <Amended on Jun. 28, 2013>
Article 11(Criteria for for ex officio members) #
The criteria for the output tax amount required in order to be rightfully eligible for membership under Article 10(3) of the Act shall be as follows: <Amended on Sep. 8, 2020>
1. For a merchant or industrialist having his or her place of business in a Special Metropolitan City: 1.7 billion won;
2. For a merchant or industrialist having his or her place of business in a Metropolitan City: 500 million won;
3. For a merchant or industrialist having his or her place of business in a Special Self-Governing City, a Special Self-Governing Province, a Si, or a Gun (excluding a Gun in a Metropolitan City): 250 million won.
Article 12(Reduction of membership fees for members of small and medium enterprise cooperatives) #
The amount of membership fees that may be reduced under Article 14(3) of the Act shall be determined by the articles of association of each chamber of commerce and industry within the limit of 35 percent of the membership fees.
Article 13(Provisions applicable mutatis mutandis) #
`Articles 2 through 9 shall apply mutatis mutandis to the Korea Chamber of Commerce and Industry. In such cases, "the Special Metropolitan City Mayor, a Metropolitan City Mayor, a Special Self-Governing City Mayor, a Do Governor, or a Special Self-Governing Province Governor" in the part other than the subparagraphs of Article 5 and "Mayor/Do Governor" in Articles 8 (2) and 9 shall be deemed respectively as "the Minister of Trade, Industry and Resources," and "an election for councilors and special councilors" in Article 6 shall be deemed as "an election for special councilors". <Amended on Sep. 8, 2020; Oct. 1, 2025>
Article 14(Business year) #
A business year of each chamber of commerce and industry and the Korea Chamber of Commerce and Industry shall begin on January 1 and end on December 31 of each year.
Article 15(Guidance, supervision and audit) #
(1) When it is deemed necessary to guide and supervise chambers of commerce and industry in accordance with Article 50(1) of the Act, the Korea Chamber of Commerce and Industry may require the chambers of commerce and industry to submit necessary materials or documents regarding their business and accounting.
(2) Each chamber of commerce and industry shall report the following matters to the Korea Chamber of Commerce and Industry in accordance with Article 50(2) of the Act:
1. Resolutions by the general meeting of councilors on the matters described in each subparagraph of Article 19 of the Act;
2. Business plans and budgetary documents;
3. Statement of settlement of accounts under Article 48(1) of the Act;
4. Results of elections for councilors and special councilors;
5. Retirement of councilors, special councilors and officers.
(3) In regard to illegality or unjust matters revealed as a result of an audit under Article 50(2) of the Act, the Korea Chamber of Commerce and Industry may direct the relevant chamber of commerce and industry to make corrections. In such cases, the chamber of commerce and industry so directed shall make such corrections without delay, and shall report the results thereof to the Korea Chamber of Commerce and Industry.
Article 16(Exceptions to prohibition against use of similar names) #
(1) Any person entitled to use the name "chamber of commerce and industry" or "Korea Chamber of Commerce and Industry" or any other similar name with approval from the Minister of Trade, Industry and Resources under the proviso to Article 52 of the Act shall be any legal entity or organization, the members of which consist mainly of the following persons, carrying on business similar to that of any chamber of commerce and industry or the Korea Chamber of Commerce and Industry: <Amended on Mar. 23, 2013; Oct. 1, 2025>
1. A foreigner who is engaged in commerce or industry in the Republic of Korea;
2. A foreign capital-invested company provided in Article 2(1)6 of the Foreign Investment Promotion Act.
(2) Any person who intends to obtain approval under the proviso to Article 52 of the Act shall submit an application for approval to the Minister of Trade, Industry and Resources, along with a recommendation of the President of the Korea Chamber of Commerce and Industry. <Amended on Mar. 23, 2013; Oct. 1, 2025>
Article 17 #
Deleted. <Sep. 8, 2020>