Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the Korea Investment Corporation Act and matters necessary for the enforcement thereof.
Article 2(Scope of entrusted institutions to be members of operating committee) #
"Amount prescribed by Presidential Decree" in subparagraph 1 of paragraph 2 of Article 10 of the Korea Investment Corporation Act (hereinafter referred to as the "Act") means 1 trillion won.
Article 3(Qualifications for and appointment of nongovernmental committee members) #
The term "domestic and foreign financial institution or international financial organization, the size of which is at least a certain scale prescribed by Presidential Decree" in subparagraph 2 of paragraph (1) of Article 11 and paragraph (2) of Article 16 of the Act means the financial institutions or international financial organizations classified according to each of the following subparagraphs, respectively.
1. Financial institutions: any of the following financial institutions:
a. The Bank of Korea established under the Bank of Korea Act;
b. A collective investment business entity under the Financial Investment Services and Capital Markets Act whose total assets of the collective investment schemes it manages as of the end of the most recent business year are at least 2 trillion won;
c. Banks under the Banking Act, insurance companies under the Insurance Business Act, or investment traders and investment brokers under the Financial Investment Services and Capital Markets Act, which are financial institutions whose total assets are at least 2 trillion won on the statement of financial position as of the end of the latest fiscal year;
d. A foreign financial institution equivalent to item b or c (referring to an entity established under foreign laws in a foreign country and engaged in collective investment business, banking business, insurance business, or persons who engage in an investment trading business or in an investment brokerage business) whose total assets of the collective investment schemes it manages or total assets on its statement of financial position as of the end of the latest business year is at least 2 trillion won;
e. The Korea Investment Corporation (hereinafter referred to as the "Corporation");
2. International financial institutions: an international financial institution falling under any of the following items:
a. An international financial institution under subparagraphs 1 through 7 and subparagraphs 9 through 15 of Article 2(1) of the Act on the Measures for the Admission to International Financial Institutions;
b. Green Climate Fund pursuant to the Green Climate Fund Operation Support Act.
[This Article Wholly Amended on Nov. 22, 2016]
Article 4(Commissioning of experts) #
(1) When the chairperson of the operation committee appoints an expert pursuant to the latter part of Article 12(6) of the Act, it shall be subject to the resolution of the operation committee.
(2) Allowances may be paid to experts commissioned under paragraph (1) within the budget of the Corporation. <Amended on Nov. 22, 2016>
(3) Except as otherwise provided for in this Decree, matters necessary for commissioning experts shall be prescribed by the chairperson after the resolution of the Committee.
Article 5(Operation of operation committee) #
(1) Meetings of the operation committee under Article 12(7) shall be called by the chairperson, as prescribed by the articles of incorporation.
(2) The chairperson of the operation committee may establish an advisory organization through a resolution of the operation committee in order to facilitate the smooth performance of the operation committee's duties.
(3) The directors and auditor of the Corporation may attend the meetings of the operation committee and state their opinions.
(4) Minutes shall be taken of the proceedings of the operation committee and signed or sealed by the chairperson and all members present.
(5) Allowances may be paid to members present at meetings of the operation committee within the budgetary limits of the Corporation.
(6) Except as otherwise provided for in this Decree, matters necessary for the operation of the operation committee shall be determined by the chairperson after the resolution of the committee.
Article 6(Members to be recommended as candidates for nongovernmental members) #
(1) "Organization prescribed by Presidential Decree" in Article 14(3)1 of the Act means the Korea Financial Investment Association, an incorporated association.
(2) "Organization prescribed by Presidential Decree" in Article 14(3)3 of the Act means the Korea Federation of Banks, an incorporated association.
Article 7(Operation of recommendation committee of nongovernmental member candidates) #
(1) When the Corporation needs to newly appoint a nongovernmental member (hereinafter referred to as "nongovernmental member," this shall apply in this Article) under Article 10(2)2 of the Act due to expiration of term of office or other reasons, it shall without delay organize a recommendation committee of nongovernmental member candidates (hereinafter referred to as "candidate recommendation committee") under Article 14 of the Act.
(2) The chairperson of the candidate recommendation committee shall be elected by and from among its members.
(3) Meetings of the candidate recommendation committee shall adopt resolutions with the affirmative vote of a majority of its members present.
(4) The candidate recommendation committee shall continue to exist until the nongovernmental members are appointed.
(5) Except as otherwise provided for in this Decree, matters necessary for the operation of the candidate recommendation committee shall be determined by the chairperson after the resolution of the committee.
Article 8(Organization and operation of President Recommendation Committee) #
(1) When it becomes necessary to newly appoint the President of the Corporation (hereinafter referred to as the "President") due to reasons such as the expiration of the President's term of office, the operation committee shall promptly organize the President Recommendation Committee (hereinafter referred to as the "recommendation committee") pursuant to the provisions of Article 18 of the Act.
(2) The recommendation committee shall continue to exist until the president is appointed under Article 17(1) of the Act.
(3) Except as otherwise provided in the Act or this Decree, matters necessary for the operation of the recommendation committee shall be determined by the chairperson of the operation committee after the resolution of such committee.
Article 9(Appointment of representative) #
(1) Where the Corporation appoints an agent under Article 25(1) of the Act, the Corporation shall register the following matters at the location of its main office within 3 weeks after the appointment. This shall also apply where the registered matters are changed: <Amended on Jan. 21, 2025>
1. Name, resident registration number and address of the agent;
2. When any authority of the said agent is restricted, the details of such restriction.
(2) An employee eligible for a judicial agent of the President under Article 25(2) of the Act shall have at least 2 years of experience in judicial actions.
Article 10(Internal control standards) #
(1) The internal control standards under Article 26(1) of the Act (hereinafter referred to as "internal control standards") shall include the following matters:
1. Matters concerning the allocation of business affairs and the organizational structure;
2. Matters concerning the management of risks arising in the course of managing entrusted assets or conducting business;
3. Matters concerning the procedure with which executive officers and employees shall comply in performing their duties;
4. Matters concerning the establishment of a system through which information necessary for making management decisions can be circulated efficiently;
5. Matters concerning the procedure and method for ascertaining whether executive officers and employees comply with the internal control standards and the dispositions imposed on executive officers and employees who fail to comply therewith;
6. Matters concerning procedures or standards for preventing unfair trading, including the report on details of trading in investment securities, exchange-traded derivatives, and over-the-counter derivatives by executives and employees;
7. Matters concerning the procedure for the establishment and revision of the internal control standards;
8. Matters concerning the procedures for appointing and dismissing compliance officers (hereinafter referred to as "compliance officers") under Article 26(2) of the Act;
9. Matters concerning compliance with laws, regulations, and internal guidelines related to the exercise of voting rights in stocks held during the asset management process.
(2) The Corporation shall ensure that the compliance officer can perform his or her duties independently from executives and employees in order to guarantee the independence of the compliance officer's duties.
(3) "Requirements prescribed by Presidential Decree" in Article 26(4) of the Act refers to the qualifications for compliance officers under Article 26 of the Act on the Governance of Financial Companies. <Added on Nov. 22, 2016>
Article 11(Special agreements on recovery of entrusted assets) #
(1) "Amount prescribed by Presidential Decree" in the proviso of Article 30(1) of the Act means 100 billion won. <Amended on Nov. 22, 2016>
(2) "Cases prescribed by Presidential Decree" in Article 30(2) of the Act means any of the following cases: <Amended on Nov. 22, 2016; Dec. 30, 2025>
1. If the foreign exchange reserves decrease by 5/100 or more compared to the previous month for 2 consecutive months as of the end of the month;
2. Where the national credit rating of the Republic of Korea is downgraded by 2 or more internationally accredited foreign credit rating agencies prescribed and publicly notified by the Minister of Economy and Finance;
3. Where the Corporation violates a material obligation under the entrustment contract concluded with the asset entrustment institution and fails to remedy it within 30 days from the date it is requested to do so by the asset entrustment institution;
4. In other cases where a significant and rapid change in domestic or overseas economic conditions necessitates the early recovery of entrusted assets.
[Title Amended on Nov. 22, 2016]
Article 11-2(Purpose of asset management) #
"Purposes prescribed by Presidential Decree" in Article 31(1)6 of the Act means purposes other than those prescribed in Article 31(1)1 to 5, such as investing in special assets as defined in Article 229(3) of the Act on Capital Markets and Financial Investment Business.
[This Article Added on Nov. 22, 2016]
Article 12(Supervision) #
(1) The operation committee may require the President to regularly report on the financial status and business performance of the Corporation.
(2) The operation committee may entrust inspection duties to accounting corporations with 100 or more affiliated certified public accountants under Article 35(2) of the Act.
Article 13(Composition ratio and rate of return by asset group) #
"Composition expenses and rate of return for each group of assets prescribed by Presidential Decree" in Article 36(2)3 of the Act mean the composition expenses and rate of return for each group of assets classified according to the following subparagraphs:
1. Securities;
2. Deposit money in financial institutions;
3. Real estate;
4. Other assets.
Article 14(Scope of employees deemed public officials in application of penalty provisions) #
"Employees prescribed by Presidential Decree" in Article 39 of the Act means employees at the deputy level or higher in the Corporation.
Article 14-2(Handling of personally identifiable information) #
The Minister of Economy and Finance and the Corporation may process data containing resident registration numbers under subparagraph 1 of Article 19 of the Enforcement Decree of the Personal Information Protection Act if it is inevitable to perform any of the following business affairs: <Amended on Dec. 30, 2025>
1. Administrative affairs for verifying qualifications for nongovernmental members under Article 11 of the Act;
2. Administrative affairs for verifying qualifications for executives under Article 16 of the Act;
3. Affairs on verification of grounds for disqualification under any subparagraph of Article 22.
[This Article Added on Aug. 6, 2014]
Article 15(Criteria for imposition of administrative fines) #
The criteria for imposing administrative fines referred to in Article 31(1) of the Act shall be as specified in the Appendix.
[This Article Wholly Amended on Dec. 4, 2018]