Article 41(Appraisal for financial investment projects) #
(1) Financial investment projects implemented by Cities/Dos shall be subject to investment examination by each person who conducts an investment examination under Article 37 (1) of the Act (hereinafter referred to as "investment examination") for each financial investment project shall be as follows: <Amended on Jan. 7, 2025>
1. A Mayor/Do Governor: Any of the following projects:
(a) A project, the total project cost of which is at least 4 billion won but less than 30 billion won, including the relocation funds;
(b) The following projects, the total project cost of which is at least 4 billion won but less than 30 billion won, which is implemented by bearing the total amount of the total project cost by its own financial resources (excluding local government bonds; hereinafter the same shall apply), and the total project cost of which is at least 4 billion won but less than 30 billion won:
1) Construction projects for new government buildings;
2) The project for newly constructing cultural facilities (hereinafter referred to as "cultural facilities") under each item (excluding item (c)) of Article 2 (1) 3 of the Culture and Arts Promotion Act;
3) Projects for new construction of sports facilities defined in subparagraph 1 of Article 2 of the Installation and Utilization of Sports Facilities Act (hereinafter referred to as "sports facilities");
(c) A project implemented with its own financial resources, the total project cost of which is at least 4 billion won (excluding any project referred to in item (b)), the total project cost of which is at least 4 billion won (excluding the projects referred to in item (b));
(d) The public relations center project with a total project cost of at least 500 million won but less than 30 billion won;
(e) Event projects, such as public performances and festivals, the total project cost of which is at least 300 million won but less than 30 billion won;
(f) A project, the total project cost of which is at least 4 billion won but less than 50 billion won, which is a project implemented jointly by the relevant City/Do (hereinafter referred to as "joint cooperation project between Cities/Dos"), which is a facility stretching over at least 2 Cities/Dos or jointly used by the relevant Cities/Dos;
(g) Projects subject to apportionment under the items of Article 37 (1) 2 of the Act, the amount of which is less than 10 billion won;
2. The Minister of the Interior and Safety: Any of the following projects:
(a) A project, the total project cost of which is at least 30 billion won, including the relocation funds;
(b) A project, the total project cost of which is at least 1 billion won for which foreign capital is introduced;
(c) The following projects implemented with its own financial resources, the total project cost of which is at least 30 billion won:
1) Construction projects for new government buildings;
2) Projects for constructing new cultural facilities;
3) Projects for constructing new sports facilities;
(d) The following project, the total project cost of which is at least 30 billion won:
1) Public relations center projects;
2) An event project, such as a performance or festival;
(e) Joint cooperation projects between cities/dos, the total project cost of which is at least 50 billion won;
(f) Projects subject to apportionment under the items of Article 37 (1) 2 of the Act, the amount of which is at least10 billion won;
(g) Other financial investment projects that the Minister of the Interior and Safety deems necessary for the national economy and social policy.
(2) Investment subjects of financial investment projects implemented by Si/Gun/autonomous Gu shall be as follows: <Amended on Jan. 7, 2025>
1. The head of a Si/Gun/autonomous Gu: Any of the following projects:
(a) The project with a total project cost of at least 2 billion won but less than 6 billion won (20 billion won in cases of a large city with a population of at least one million won under Article 198 (2) 1 of the Local Autonomy Act) including financial resources for relocation;
(b) The following projects implemented with its own financial resources, the total project cost of which is at least 2 billion won but less than 6 billion won:
1) Construction projects for new government buildings;
2) Projects for constructing new cultural facilities;
3) Projects for constructing new sports facilities;
(c) A project implemented with its own financial resources, the total project cost of which is at least 4 billion won (excluding any project referred to in item (b)), the total project cost of which is at least 2 billion won (excluding the projects referred to in item (b));
(d) The public relations center project with a total project cost of at least 300 million won but less than 6 billion won;
(e) Event projects, such as public performances and festivals, the total project cost of which is at least 100 million won but less than 30 million won;
(f) Projects subject to apportionment under the items of Article 37 (1) 2 of the Act, the amount of which is less than 2 billion won;
2. A Mayor/Do Governor: Any of the following projects:
(a) A project, the total cost of which is at least 6 billion won but less than 20 billion won including relocation costs (excluding large cities with a population of at least one million under Article 198 (2) 1 of the Local Autonomy Act);
(b) The public relations center project with a total project cost of at least 6 billion won but less than 20 billion won;
(c) Event projects, such as public performances and festivals, the total project cost of which is at least 300 million won but less than 20 billion won;
(d) The following projects implemented with its own financial resources, the total project cost of which is at least 6 billion won:
1) Construction projects for new government buildings;
2) Projects for constructing new cultural facilities;
3) Projects for constructing new sports facilities;
(e) A project for which facilities extend over or jointly used by at least 2 Sis/Guns/autonomous Gus, which are jointly implemented by at least 2 Sis/Guns/autonomous Gus (hereafter referred to as "joint cooperation projects between Sis/Guns/autonomous Gus" in this Article), the total project cost of which is at least 60 billion won (20 billion won in cases of joint cooperation projects between Sis/Guns/autonomous Gus, including large Sis with a population of at least 1 million persons under Article 198 (2) 1 of the Local Autonomy Act) but less than 50 billion won;
(f) Projects subject to apportionment under the items of Article 37 (1) 2 of the Act, the amount of which is at least 2 billion won but less than 5 billion won;
3. The Minister of the Interior and Safety: Any of the following projects:
(a) A project, the total project cost of which is at least 20 billion won, including the relocation funds;
(b) A project, the total project cost of which is at least 1 billion won for which foreign capital is introduced;
(c) The following project, the total project cost of which is at least 20 billion won:
1) Public relations center projects;
2) An event project, such as a performance or festival;
(d) The joint cooperation project between Sis/Guns/autonomous Gus, the total project cost of which is at least 50 billion won;
(e) Projects subject to apportionment under the items of Article 37 (1) 2 of the Act, the amount of which is at least 5 billion won;
(f) Other financial investment projects that the Minister of the Interior and Safety deems necessary for the national economy and social policy.
(3) Where at least 2 Cities/Dos concurrently promote the projects prescribed in the items (excluding items (g)) of paragraph (1) 1, or where at least two Sis/Guns/autonomous Gus concurrently promote the projects prescribed in the items of paragraph (2) 1 (excluding items (f)) or the items of paragraph (2) 2 (excluding items (f)), the Minister of the Interior and Safety shall determine matters concerning the principals of investment examination. <Added on Jan. 7, 2025>
(4) The Minister of the Interior and Safety and the Mayor/Do Governor shall take necessary measures, such as education, to improve the capability of local governments to examine investments. <Amended on Jan. 7, 2025>
(5) Where the head of a local government requests an investment examination for an investment project that has undergone a feasibility study under the main clause, with the exception of the subparagraphs, of Article 37-2 (1) of the Act or an investment project that has undergone an investigation and examination under the subparagraphs of the same paragraph (hereinafter referred to as "feasibility study, etc."), he or she shall submit the results of the feasibility study, etc. and whether the results of the feasibility study, etc. are reflected. In such cases, if the results of the feasibility study, etc. are not reflected in such cases, the grounds therefor shall also be submitted. <Amended on Jan. 7, 2025>
[Title Amended on Jan. 9, 2024]