Article 1(Purpose) #
The purpose of this Decree is to prescribe the matters necessary for the enforcement of the Credit Guarantee Fund Act. <Amended on May 6, 2009>
Article 2 #
Deleted. <Dec. 14, 1995>
Article 3(Monetary obligations) #
"Monetary obligations prescribed by Presidential Decree" in subparagraph 2 (d) of Article 2 of the Credit Guarantee Fund Act (hereinafter referred to as the "Act") means any of the following: <Amended on Sep. 29, 1975; Jun. 24, 1977; May 7, 1979; Dec. 29, 1981; Oct. 6, 1984; Oct. 17, 1989, Dec. 23, 1994; Dec. 14, 1995. Dec. 31, 1997; Sep. 10, 2007; Feb. 29, 2008; May 6, 2009; Nov. 20, 2009; May 31, 2016; Apr. 2, 2019; Sep. 30, 2025>
1. National taxes and local taxes which shall be borne by enterprises;
2. Obligations of enterprises as determined by the Financial Services Commission through a resolution of the board of policy, due to persons other than financial companies, etc. among those who are engaged in the business of financing to enterprises;
3. Obligations arising from bills issued (including ‘accepted' and ‘endorsed'; hereinafter the same shall apply) by enterprises in relation to commercial transactions, and the obligations arising from bills endorsed by enterprises which are obtained in relation to commercial transactions in order to obtain funds;
3-2. Payment obligations, by contracts related to commercial transactions of small and medium enterprises, as prescribed by the operations manual;
3-3. Obligations to a person who has accepted bills issued by small and medium enterprises on the security of the export letters of credit (including local letters of credit);
4. Obligations of enterprises to facility leasing business entities, arising from the leasing of facilities, machinery, equipment, etc. from the facility leasing business entities pursuant to the Specialized Credit Finance Business Act;
5. Obligations of small and medium enterprises to the Korea SMEs and Startups Agency, arising from leasing facilities, machinery, equipment, etc. from the Korea SMEs and Startups Agency pursuant to the Small and Medium Enterprises Promotion Act;
6. Payment obligations in connection with various bail money to be borne by enterprises in connection with the signing of contracts (including bids) with the Government, local governments, public institutions pursuant to Article 4 of the Act on the Management of Public Institutions or other persons as determined by the Financial Services Commission, for construction works, supply of goods and provision of services;
7. Other monetary obligations determined by the Financial Services Commission as monetary obligations of an enterprise.
(2) “Person prescribed by Presidential Decree” in subparagraph 3 h of Article 2 of the Act means a financial investment services provider under Article 8 (2) through (6), (8), and (9) of the Act on the Financial Investment Services and Capital Markets Act (limited to cases where Article 23-6 of the Act applies). <Added on Sep. 30, 2025>
(3) “Property right prescribed by Presidential Decree” in subparagraph 10 of Article 2 of the Act means any of the following: <Added on Sep. 30, 2025>
1. Commercial paper pursuant to Article 4 (3) of the Financial Investment Services and Capital Markets Act;
2. Assets recognized by the Financial Services Commission as specially necessary for the national economy among securitized assets pursuant to subparagraph 3 of Article 2 of the Asset-Backed Securitization Act.
[Title Amended on Sep. 30, 2025]
Article 3-2 #
Deleted. <Dec. 14, 1995>
Article 4(Preferential guarantee) #
"Funds corresponding to objectives prescribed by Presidential Decree" in Article 3 (1) of the Act means the funds falling under any of the following subparagraphs: <Amended on May 31, 2016>
1. Financing funds for export support;
2. Funds specially required for the national economy, such as contributing to the improvement of the productivity of enterprises.
[This Article Wholly Amended on Dec. 14, 1995]
Article 5(Guarantees for small and medium enterprises) #
In preparing or modifying the operational plan of the Credit Guarantee Fund (hereinafter referred to as the "Fund") as provided in Article 26 of the Act, not less than 60/100 of the total amount of guarantees shall be guarantees for small and medium enterprises. <Amended on Oct. 6, 1984>
Article 6(Registration of incorporation) #
(1) The commissioners for the establishment of the Fund as provided in Article 3 of the Addenda of the Act shall prepare the articles of incorporation and file for registration of the incorporation of the Fund at the seat of its head office within 2 weeks after obtaining the authorization of the Financial Services Commission. <Amended on Dec. 23, 1994; Dec. 14, 1995; Feb. 29, 2008>
(2) Matters falling under any of the following subparagraphs shall be written in the registration as provided in paragraph (1): <Amended on Dec. 14, 1995>
1. Purpose;
2. Name;
3. Head office;
4. Branch and sub-branch;
5. Capital fund at the time of incorporation;
6. Name, resident registration number and address of the Chairperson;
7. Names and resident registration numbers of the deputy president, directors, and the chief audit executive;
8. Method of public announcement.
Article 7(Registration of Establishment) #
If the Fund establishes a branch or sub-branch, it shall file for registration of the name, location, and date of establishment of the branch or sub-branch established at the location of its main office within 2 weeks after the establishment thereof.
[This Article Wholly Amended on Jan. 21, 2025]
Article 8(Registration of relocation) #
(1) If the Fund relocates its main office, it shall file for registration of the new location and the date of relocation at the former location or new location within 2 weeks after the relocation.
(2) If the Fund relocates its branch or sub-branch, it shall file for registration of the new location and the date of relocation at the location of its main office within 2 weeks after the relocation.
[This Article Wholly Amended on Jan. 21, 2025]
Article 9(Registration of change) #
If any matter registered under the subparagraphs of Article 6 (2) or Article 7 is changed (excluding cases falling under the registration of transfer under Article 8), the Fund shall file for registration of such change at the location of its main office within 2 weeks after such change.
[This Article Wholly Amended on Jan. 21, 2025]
Article 10(Registration of appointment of agent) #
If the Chairperson of the Fund appoints an agent pursuant to Article 22 of the Act, the Fund shall file for registration of the following matters at the location of its main office within 2 weeks after the appointment. The same shall also apply where the registered matters are changed: <Amended on Jan. 21, 2025>
1. Name and domicile of the agent;
2. Head office, branch, or sub-branch for which the agent has been appointed;
3. Contents of restriction, in cases of restricting the authority of the agent.
Article 11(Calculation of registration period) #
When any of the matters to be registered as provided in Articles 6 through 10 requires the authorization or approval from the Financial Services Commission, the registration period shall be calculated from the date on which the letter of such authorization or approval arrives. <Amended on Dec. 23, 1994; Dec. 14, 1995; Feb. 29, 2008>
Article 12(Registry office) #
(1) The district court, the branch office, or the registry office having jurisdiction over the location of the head office shall be in charge of the registration of the Fund. <Amended on Jan. 21, 2025>
(2) Each registry office shall be furnished with a registry of the Credit Guarantee Fund.
Article 13(Applicants for registration and documents to be annexed to written application) #
The registration of incorporation as provided in Article 6 shall be filed by the joint request of the commissioners for establishment and the registration as provided in Articles 7 through 10 shall be filed at the request of the Chairperson of the Fund, and the written application for registration shall be accompanied by the documents falling under any of the following subparagraphs:
1. In cases of the registration of incorporation as provided in Article 6, the articles of incorporation of the Fund, a copy of the authorization of such articles of incorporation, and the documents substantiating that the Chairperson of the Fund has been appointed as provided in Article 16 (1) of the Act;
2. In cases of the registration of a new branch or sub-branch as provided in Article 7, the documents substantiating the establishment of the new branch or sub-branch;
3. In cases of the registration of relocation as provided in Article 8, the documents substantiating the relocation;
4. In cases of the registration of change as provided in Article 9, the documents substantiating the change;
5. In cases of the registration of the appointment of an agent as provided in Article 10, the documents substantiating that the appointment of an agent has been made in accordance with Article 22 of the Act and in the case of restricting the authority of an agent, the documents substantiating the restriction.
Article 14(Provisions applicable mutatis mutandis concerning registration) #
Except as otherwise provided in this Decree, Articles 15 through 20, 22 through 28, 75 through 80, and 82 through 89 of the Commercial Registration Act shall apply mutatis mutandis to the registration of the Fund.
[This Article Wholly Amended on Jan. 21, 2025]
Article 15(Public announcement of registration of incorporation) #
Upon completing the registration of incorporation as provided in Article 6, the Fund shall without delay make a public announcement thereof.
Article 16(Duties of chairperson of board of policy) #
(1) A meeting of the board of policy (hereinafter referred to as "board of policy") shall be convened as prescribed by the articles of incorporation, and chaired by the chairperson of the board of policy.
(2) If the chairperson is unable to perform his or her duties, the deputy president of the Fund and other members of the board of policy as designated by the chairperson shall, in order, act on behalf of the chairperson.
Article 17(Method of resolution) #
(1) A majority of the members of the board of policy shall constitute a quorum, and any resolution thereof shall require the concurring vote of at least a majority of those present. <Amended on May 6, 2009>
(2) The deputy president, directors, and the chief audit executive of the Fund may attend the meetings of the board of policy and state their opinions.
Article 18(Minutes of committee meeting) #
The board of policy shall prepare the minutes of its meetings, which shall be signed and sealed by the chairperson and all the members present at the meetings.
Article 19(Exclusion of members) #
If an agenda item of a meeting of the board of policy concerns personal interests of any member of the board or his or her relative or the interests of an institution or an enterprise to which he or she belongs, he or she shall be excluded from deliberation and resolution on such agenda item. <Amended on Mar. 31, 2022>
[Title Amended on Mar. 31, 2022]
Article 19-2(Organization subject to counter-guarantee) #
(1) Deleted. <May 6, 2009>
(2) In applying Article 23-2 (1) of the Act, the Fund shall not enter into a contract with a credit guarantee foundation under the Regional Credit Guarantee Foundation Act (hereinafter referred to as "original guarantor") which has entered into a counter-guarantee contract with the Korea Technology Finance Corporation established pursuant to the Korea Technology Finance Corporation Act. <Amended on May 6, 2009; May 31, 2016>
(3) The Fund shall not counter-guarantee any original guarantee for any obligation other than those pursuant to subparagraph 2 of Article 2 of the Act, and any obligation of an enterprise operating a business in the guarantee-restricted industry pursuant to subparagraph 1 (b) of Article 24 of the Act. <Amended on May 6, 2009; May 31, 2016>
[This Article Added on Dec. 14, 1995]
Article 19-3(Matters to be observed by original guarantor) #
The Chairperson of the Fund shall, in entering into a contract as provided in Article 23-2 (1) of the Act, make the original guarantor include in the contract the matters to be observed by the original guarantor in connection with a counter-guarantee contract, payment of the counter-guarantee fee, payment of the coverage amount, exercise of the right to demand indemnity, return of recovered money, etc., and those concerning the submission of a report to confirm whether the above-mentioned matters are fulfilled, and the inspection on the operational situation, etc.
[This Article Added on Dec. 14, 1995]
Article 19-4(Rate of counter-guarantee) #
(1) "Rate prescribed by Presidential Decree" in Article 23-2 (3) of the Act means 50/100; provided, where the Financial Services Commission deems it particularly necessary for the stimulation of the regional economy, emergency disaster restoration, etc., the rate may be determined differently, within the limit of 60/100. <Amended on Feb. 29, 2008; May 31, 2016>
(2) The amount to be returned to the Fund by the original guarantor as provided in Article 23-2 (5) of the Act shall be limited to the amount of the coverage paid by the Fund as provided in Article 23-2 (4) of the Act.
[This Article Added on Dec. 14, 1995]
Article 19-5(Claim for discharge of counter-guaranteed obligations) #
"Period prescribed by Presidential Decree" in Article 23-2 (6) of the Act means 3 months. <Amended on May 31, 2016>
[This Article Added on Dec. 14, 1995]
Article 19-6(Termination and change of counter-guarantee contracts) #
The Fund may terminate or change the contract entered into with the original guarantor as provided in Article 23-2 (1) of the Act, if any of the following causes occurs:
1. Where the counter-guarantee affairs of the original guarantor as provided in Article 23-2 of the Act is contrary to relevant statutes or regulations or is performed improperly;
2. Where the original guarantor has been negligent in exercising the right to demand indemnity;
3. Where there arises any cause of termination or change of the contract stipulated by the contract made and entered into by and between the Fund and the original guarantor, as provided in Article 23-2 (1) of the Act.
[This Article Added on Dec. 14, 1995]
Article 19-7(Securitization guarantee) #
(1) Deleted. <Sep. 30, 2025>
(2) The maximum limit of securitized assets, which a holder of assets may take over from the same enterprise pursuant to Article 23-3 (2) of the Act, shall be determined with a deduction of a specific amount from 30 billion won, in cases where the same enterprise is a small and medium enterprise, and from 50 billion won, where the same enterprise is one other than a small and medium enterprise, through a resolution of the board of directors of the Fund (hereinafter referred to as the "board of directors") pursuant to Article 15-2 of the Act in consideration of credit rating or such; provided, the maximum limit may be determined separately through a resolution of the board of directors, where the Financial Services Commission deems it specially necessary for the national economy.
(3) Matters necessary for the standards, amounts, etc. of deduction pursuant to paragraph (2) shall be determined through a resolution of the board of directors; provided, such matters may be determined separately through a resolution of the board of directors, if the Financial Services Commission deems them specially necessary for the national economy.
[This Article Added on May 6, 2009]
[Title Amended on Sep. 30, 2025]
Article 19-8(Guarantee-aligned investment) #
(1) "Methods prescribed by Presidential Decree" in Article 23-4 (1) 6 of the Act means the following methods of investment: <Added on Jun. 29, 2021>
1. The method of investment by which the profits are distributed through investment in a business operated by a small and medium enterprise maintaining the independence of accounting from other businesses;
2. The method of investment that meets the following requirements:
(a) No repayment of investments shall be required upon their maturity;
(b) No interest on investments shall be paid;
(c) The amount of equity shares to be purchased for the investment shall be determined based on the value of the enterprise at the time of subsequent investment;
3. Other methods of investment determined and publicly notified by the Financial Services Commission to support the smooth financing of an enterprise, which are equivalent to the methods of investment prescribed in subparagraphs 1 and 2.
(2) A ceiling on the aggregate of guarantee-aligned investments by the Fund under Article 23-4 (2) of the Act shall be 10/100 of the sum of its capital fund and its profits carried forward. <Amended on Dec. 9, 2014; Jun. 29, 2021>
(3) The limit of guarantee-aligned investment the Fund may make in the same enterprise under Article 23-4 (3) of the Act shall be 3 billion won. <Amended on Dec. 9, 2014; May 31, 2016; Jun. 29, 2021; Mar. 31, 2022>
[This Article Added on Aug. 27, 2013]
Article 19-9(Factoring for SMEs and middle-standing enterprises) #
(1) "Middle-standing business entrepreneur prescribed by Presidential Decree" in Article 23-5 (1) 2 of the Act means a person who runs a middle-standing enterprise whose average sales or annual sales calculated pursuant to Article 7 of the Enforcement Decree of the Special Act on the Promotion of Growth and the Strengthening of Competitiveness of Middle-Standing Enterprises are less than 300 billion won. <Added on Jan. 30, 2024>
(2) The scale of operation of the factoring for small and medium enterprises and middle-standing enterprises under Article 23-5 (1) of the Act (hereafter in this Article referred to as "factoring for SMEs and middle-standing enterprises") shall not exceed 10/100 of the sum of the capital fund and profits carried forward of the Fund. <Amended on Jan. 30, 2024>
(3) The scale of trade receivables that the Fund may purchase in order to conduct the factoring for SMEs and middle-standing enterprises for persons falling under any subparagraph of Article 23-5 (1) of the Act (hereafter in this Article referred to as "small and medium entrepreneur, etc.") shall not exceed 10 billion won for each small and medium-sized enterprise, etc. <Amended on Jan. 30, 2024>
(4) Notwithstanding paragraph (3), if the Financial Services Commission deems it inevitable to overcome an economic crisis or to restore the financial soundness of small and medium entrepreneurs, etc., the Financial Services Commission may require the Fund to set a different limit on the purchase of trade receivables under that paragraph. <Amended on Jan. 30, 2024>
(5) When the Fund intends to set a different limit on the purchase of trade receivables pursuant to paragraph (4), it shall adopt a resolution thereon by the board of directors. <Amended on Jan. 30, 2024>
(6) A small and medium entrepreneur, etc. who intends to apply for the factoring for SMEs and middle-standing enterprises shall file an application with the Fund, along with the following documents: <Amended on Jan. 30, 2024>
1. A written application stating reasons for applying for the factoring for SMEs and middle-standing enterprises;
2. Documents regarding the management and credit status, etc. of the small and medium entrepreneur, etc.
(7) Upon receipt of an application under paragraph (6), the Fund may, if necessary to conduct the factoring for SMEs and middle-standing enterprises, verify whether the debtor of trade receivables consents to the factoring for SMEs and middle-standing enterprises, and investigate the management and credit status of the small and medium entrepreneur, etc. and the debtor of trade receivables. <Amended on Jan. 30, 2024>
Article 19-10(Securitization trusts of corporate bonds, etc.) #
(1) The Fund may acquire asset-backed securities with assets that are not subject to securitization such as corporate bonds, etc., for the smooth issuance of asset-backed securities (referring to asset-backed securities under subparagraph 11 of Article 2 of the Act; hereinafter the same shall apply) and the stable management of surplus funds under Article 23-6 (5) of the Act.
(2) Where the Fund acquires asset-backed securities under paragraph (1), the acquisition price shall be based on the market price formed on the securities market or the KOSDAQ market under the Financial Investment Services and Capital Markets Act; provided, for asset-backed securities not listed on the securities market or the KOSDAQ market, the acquisition price shall be the amount obtained by dividing the total amount of the underlying corporate bonds, etc. (valued as of the time of acquisition of the asset-backed securities) by the total number of such asset-backed securities (excluding those already redeemed as of the time of acquisition).
(3) If the Fund discloses the final account under Article 23-6 (7) of the Act, it shall post the final account on the Fund’s website.
[This Article Added on Sep. 30, 2025]
Article 20(Limit on guarantees) #
(1) The aggregate ceiling for the Fund’s credit guarantees, re-guarantees, and securitization guarantees under Article 25 (1) of the Act shall be 20 times the sum of the Fund’s fundamental property and the profits carried forward. <Amended on Dec. 29, 1997; May 6, 2009; Sep. 30, 2025>
(2) The maximum limit of credit guarantee (including counter-guarantee) the Fund may grant to the same enterprise as prescribed in Article 25 (2) of the Act, shall be determined by deducting a fixed amount calculated by taking into consideration the uses, etc. of funds from 3 billion won, and the maximum limit of the counter-guarantee to an enterprise which receives a credit guarantee from the original guarantor, shall be 200 million won; provided, if deemed necessary by the Financial Services Commission for the national economy, the maximum limit may be determined separately by resolution of the board of directors. <Amended on Feb. 12, 1998; Feb. 29, 2008; May 31, 2016; Jan. 5, 2021>
(3) Matters necessary for the standards, amount, etc. of deductions under paragraph (2) shall be determined through a resolution of the board of directors; provided, if the Financial Services Commission deems it particularly necessary for the national economy, they may be determined separately through a resolution of the board of directors. <Added on Feb. 12, 1998; Feb. 29, 2008>
[This Article Wholly Amended on Dec. 14, 1995]
[Title Amended on Sep. 30, 2025]
Article 21(Grounds for requesting discharge of guaranteed obligations) #
“ Grounds prescribed by Presidential Decree” in Article 29 (1) of the Act means any of the following grounds: <Amended on May 7, 1979; Dec. 23, 1994; Dec. 14, 1995; Feb. 29, 2008; May 6, 2009; May 31, 2016; Sep. 30, 2025>
1. In the case of a credit guarantee for monetary obligations under Article 2 (2) (a) of the Act, where the guaranteed enterprise (hereafter in this subparagraph referred to as the “guaranteed enterprise”) fails to perform its obligations to a financial company, etc. within the due date (including cases where the benefit of time has been lost) and 3 months have elapsed thereafter;
2. In the case of a credit guarantee for monetary obligations under Article 2 (2) (b) of the Act, where 3 months have elapsed after subrogation has occurred because a financial company, etc. performed the guaranteed obligation;
3. In the case of a credit guarantee for corporate bonds under Article 2 (2) (c) of the Act, where the principal or interest of the bonds is not repaid within the due date;
4. In the case of a credit guarantee for monetary obligations under Article 2 (2) (d) of the Act and a securitization guarantee under Article 23-3 (1) of the Act, where the Financial Services Commission determines such grounds depending on the type and nature of the obligations.
Article 22(Special cases on grounds for requesting discharge of guaranteed obligations) #
(1) A creditor may request the Fund to discharge its guaranteed obligations, notwithstanding Article 21, if a guaranteed enterprise falls under any of the following subparagraphs; in cases falling under subparagraph 4, prior consent from the guaranteed enterprise shall be obtained: <Amended on Jan. 23, 1980; May 6, 2009; Oct. 4, 2022>
1. Where the guaranteed enterprise concerned has become bankrupt or been dissolved;
2. Where the guaranteed enterprise concerned has not conducted business for at least 6 consecutive months or has discontinued its business;
3. Where any ground prescribed by the board of directors arises as cases where it is deemed impracticable for the guaranteed enterprise to normalize its management promptly since it has made an application for the commencement of rehabilitation procedures pursuant to the Debtor Rehabilitation and Bankruptcy Act or such, except as provided subparagraphs 1 and 2;
4. Where any ground determined by the Financial Services Commission arises, which requires the adjustment of obligations, such as a dramatic decline in its debt repayment capability, except as provided in subparagraphs 1 through 3.
(2) When the creditor intends to request the Fund to discharge its guaranteed obligations as provided in paragraph (1), he or she shall verify the facts which constitute the cause. <Amended on May 6, 2009>
Article 23(Scope of subordinate obligations) #
“ Subordinate obligation prescribed by Presidential Decree” in Article 29 (2) of the Act means the total amount of the following interest or additional charges, together with any other expenses incurred by the creditor for the recovery of the claim, as determined by the board of directors: <Amended on Jan. 23, 1980; Oct. 6, 1984; Dec. 23, 1994; Dec. 14, 1995; May 6, 2009; May 31, 2016; Sep. 30, 2025>
1. In the case of a credit guarantee for monetary obligations under Article 2 (2) (a) of the Act and a securitization guarantee under Article 23-3 (1) of the Act, the amount of interest calculated at the contractual interest rate applicable during the contractual period of the principal obligation, for the period from the payment deadline of the principal obligation until the Fund performs the guarantee obligation;
2. In cases of a credit guarantee for a monetary obligation as referred to in subparagraph 2 (b) and (d) of Article 2 of the Act, the interest and the additional dues as described by the operations manual;
3. Deleted. <Dec. 14, 1995>
Article 23-2(Sales of claim for indemnity) #
"Other persons prescribed by Presidential Decree" in subparagraph 5 of Article 30-2 of the Act means each of the following:
1. A private equity fund for corporate financial stability under Article 249-22 of the Financial Investment Services and Capital Markets Act;
2. A company in which the Korea Asset Management Corporation established under the Korea Asset Management Corporation Act has invested to perform the business affairs under Article 26 (1) 1 and 2 of that Act.
[This Article Wholly Amended on Oct. 4, 2022]
Article 23-3(Notice duty of creditor) #
"Creditor prescribed by Presidential Decree" in the provisions, with the exception of the subparagraphs, of Article 31 of the Act means a creditor of a monetary obligation as provided in subparagraph 2 (a) or (b) of Article 2 of the Act and a creditor of credit offering pursuant to Article 23-3 (1) 2 of the Act. <Amended on May 6, 2009; May 31, 2016>
[This Article Added on Jan. 23, 1980]
[Moved from Article 23-2; (Previous) Article 23-3 moved to Article 23-4 <Jan. 24, 2017>]
Article 23-4(Comprehensive management of credit information) #
(1) The Fund shall collect various data concerning credit from related institutions and enterprises as provided in Article 31-2 of the Act, analyze and evaluate credit information obtained from credit surveys, etc. and also manage these data and information systematically and comprehensively. <Amended on May 6, 2009>
(2) The Fund may, in managing the credit information as provided in paragraph (1), make credit ratings classified by grade by analyzing comprehensively the financial structure and characteristics of the enterprise in question, current situation of the relevant industry, general economic situations, and other necessary matters.
[This Article Added on Oct. 6, 1984]
[Moved from Article 23-3 <Jan. 24, 2017>]
Article 24(Entrustment of business affairs) #
(1) Under Article 32 of the Act, the Fund may entrust its business affairs according to the following classifications: <Amended on May 6, 2009; Mar. 24, 2014; May 31, 2016; Aug. 4, 2020; Feb. 17, 2022; Sep. 30, 2025>
1. Financial companies, etc.: Business affairs provided in Article 23 (1) 2, 5, and 9 of the Act;
2. The Korea Asset Management Corporation under the Act on the Establishment of Korea Asset Management Corporation: Business affairs provided in Article 23 (1) 2-3, 5, and 9 of the Act;
3. A credit information company or a debt collection company under the Credit Information Use and Protection Act: Business affairs provided in Article 23 (1) 2-3, 4, 5, and 9 of the Act.
(2) When the Fund intends to entrust its business affairs under paragraph (1), it shall report to the Financial Services Commission in advance. <Amended on Oct. 6, 1984, Dec. 23, 1994; Dec. 14, 1995; Feb. 29, 2008>
[This Article Wholly Amended on Jan. 23, 1980]
Article 24-2(Guarantee fee) #
(1) The guarantee fee under the former part of Article 33 (1) of the Act and the penalties under Article 34 of the Act shall be collected at a rate provided in the operations manual under Article 24 of the Act, taking into consideration the credit rating of the relevant enterprise, types of guarantee, etc. <Amended on May 6, 2009; Jan. 5, 2021>
(2) The performance-based guarantee fee under the latter part of Article 33 (1) of the Act shall be provided by a separate contract to be concluded between the Fund and the relevant enterprise, not exceeding 10/100 of the guaranteed amount as determined by the Financial Services Commission. <Added on May 6, 2009>
(3) The counter-guarantee fee under Article 33 (2) of the Act shall be collected by the Fund from the original guarantor in accordance with the rate determined by the operations manual under Article 24 of the Act, taking into consideration the amount paid for the coverage out of the amount counter-guaranteed by the Fund for the original guarantor. <Amended on May 6, 2009; Jan. 5, 2021>
(4) The overdue guarantee fee pursuant to Article 33 (3) of the Act shall be an amount calculated by multiplying the unpaid guarantee fee by 10/100 per annum. <Added on May 6, 2009>
[This Article Wholly Amended on Dec. 14, 1995]
Article 24-3(Fees) #
Fees pursuant to Article 33-2 of the Act shall be collected as provided in the operations manual pursuant to Article 24 of the Act in consideration of expenses and period required for performance of business affairs and the degree of difficulty of business affairs or such.
[This Article Added on May 6, 2009]
Article 24-4(Furnishing of data and request for cooperation) #
"Public organizations prescribed by Presidential Decree" in Article 43-2 (1) of the Act means public institutions pursuant to Article 4 of the Act on the Management of Public Institutions.
[This Article Added on May 6, 2009]
Article 25 #
Deleted. <May 31, 2016>
Article 26(Processing of sensitive information and personally identifiable information) #
(1) The Fund (including a person entrusted with business affairs of the Fund under Article 24) may process information equivalent to criminal history records under subparagraph 2 of Article 18 of the Enforcement Decree of the Personal Information Protection Act and data that contain resident registration numbers, passport numbers, drivers' license numbers, or alien registration numbers under Article 19 of that Decree, if it is unavoidable for conducting the following business affairs: <Amended on Aug. 27, 2013; Jan. 24, 2017; Sep. 30, 2025>
1. Business affairs regarding the Fund’s business affairs under Article 23 (1) 1, 2, 2-3, 2-4, 3 through 5, and 9 of the Act;
2. Business affairs concerning counter-guarantee under Article 23-2 of the Act;
3. Business affairs concerning securitization guarantees, etc. under Article 23-3 of the Act;
3-2. Business affairs concerning guarantee-aligned investment under Article 23-4 of the Act;
3-3. Business affairs concerning the securitization trust for corporate bonds, etc. under Article 23-6 of the Act;
3-4. Business affairs concerning the operations manual under Article 24 of the Act;
4. Business affairs concerning fulfillment of the duty of investigation under Article 27 of the Act;
5. Business affairs concerning issuance of a notice to an enterprise and a person who is to be a creditor of such enterprise under Article 28 (1) of the Act;
6. Business affairs concerning performance of guaranteed obligations under Article 29 of the Act;
7. Business affairs concerning suspension of exercise of the right to demand indemnity under Article 30 (2) of the Act;
7-2. Business affairs concerning sale of claim for indemnity under Article 30-2 of the Act;
8. Business affairs concerning request for data and cooperation under Article 43-2 of the Act.
(2) The Financial Services Commission (including a person entrusted with business affairs of the Financial Services Commission under Article 43 (2) of the Act) may process data containing personal information provided in the provisions, with the exception of the subparagraphs, of paragraph (1), if it is unavoidable for conducting its business affairs concerning the supervision under Article 42 of the Act and subsequent follow-up measures, etc. and business affairs concerning the reporting and inspection under Article 43 (1) of the Act and subsequent follow-up measures.
Article 27 #
Deleted. <May 6, 2009>