Article 1(Purpose) #
The purpose of this Decree is to establish a close cooperation system among relevant administrative agencies for the formulation and implementation of major policies on credit business and loan brokerage business under Article 15-2 of the Act on Registration of Credit Business and Protection of Finance Users, as well as to establish the Credit Business Policy Council and regional councils of credit business-related agencies for the cooperation, etc. among relevant agencies for the effective prevention and control of violations related to credit business and loan brokerage business, and to prescribe matters regarding the operation thereof. <Amended on Apr. 21, 2009>
Article 2(Composition and functions of Credit Business Policy Council) #
(1) In order to consistently formulate and implement policies relating to the credit business or loan brokerage business (referring to the credit business and the loan brokerage business under subparagraphs 1 and 2 of Article 2 of the Act on Registration of Credit Business and Protection of Finance Users; hereinafter referred to as the "credit business, etc.") from a comprehensive perspective and to efficiently deliberate and coordinate matters that require consultation among relevant administrative agencies, there shall be established in the Financial Services Commission the Credit Business Policy Council (hereinafter referred to as the "Council"). <Amended on Feb. 29, 2008; Apr. 21, 2009>
(2) The Council shall deliberate and coordinate the following matters: <Amended on Apr. 21, 2009>
1. General supervision and control of policies relating to the credit business, etc.;
2. Formulation and improvement of statutes, regulations, guidelines, and systems relating to the credit business, etc.;
3. Review and evaluation of the implementation status of policies relating to the credit business, etc.;
4. Other matters necessary to efficiently formulate and implement policies related to the credit business, etc.
(3) The members of the Council shall be the Chairperson of the Financial Services Commission, the Vice Minister of Finance and Economy, the Vice Minister of Justice, the Vice Minister of the Interior and Safety, and the Vice Chairperson of the Fair Trade Commission. <Amended on Feb. 29, 2008; Mar. 23, 2013; Nov. 19, 2014; Jul. 26, 2017; Dec. 30, 2025>
(4) The chairperson of the Council shall be the Chairperson of the Financial Services Commission. <Amended on Feb. 29, 2008>
(5) The Council shall have 1 executive secretary to conduct its business affairs, and the Secretary General of the Financial Services Commission shall serve as the executive secretary. <Amended on Feb. 29, 2008>
Article 3(Meetings of Council) #
(1) The chairperson of the Council shall select agenda items to be presented to meetings and convene and preside over the meetings.
(2) Where the chairperson of the Council is unable to perform their duties due to unavoidable reasons, a member designated in advance by the chairperson shall act on their behalf.
(3) Meetings of the Council shall be classified into regular meetings and extraordinary meetings.
(4) In principle, regular meetings shall be convened once every quarter, and extraordinary meetings shall be convened whenever necessary.
(5) A majority of all members of the Council shall constitute a quorum, and any resolution thereof shall require the concurring vote of a majority of the members present.
(6) Where a member of the Council is unable to attend a meeting, a person immediately subordinate thereto may attend the meeting on their behalf.
(7) Other matters necessary for the operation of the Council shall be determined by the chairperson following a resolution by the Council.
Article 4(Submission of agenda items) #
Any person who intends to submit an agenda item to a meeting of the Council shall submit the item to the Financial Services Commission at least 3 days before the meeting is held; provided, this shall not apply to urgent agenda items. <Amended on Feb. 29, 2008>
Article 5(Composition and operation of Working Council on Credit Business Policy) #
(1) A Working Council on Credit Business Policy (hereinafter referred to as the "Working Council") shall be established under the Council to conduct research and review of the matters discussed by the Council and handle matters delegated by the Council.
(2) The following persons shall be members of the Working Council: <Amended on Feb. 29, 2008; Mar. 23, 2013; Nov. 19, 2014; Jul. 26, 2017; Dec. 30, 2025>
1. The Secretary General of the Financial Services Commission;
2. One prosecutor affiliated with the Ministry of Justice, designated by the Minister of Justice;
3. 1 person of the Senior Executive Service (including public officials in special service equivalent thereto) of each of the Ministry of Finance and Economy, the Ministry of the Interior and Safety, the Fair Trade Commission, the Korean National Police Agency, and the National Tax Service, designated by the head of each relevant agency;
4. One Deputy Governor of the Financial Supervisory Service under the Act on the Establishment of the Financial Services Commission, designated by the Governor of the Financial Supervisory Service (hereinafter referred to as the "Governor of the Financial Supervisory Service").
(3) The Secretary General of the Financial Services Commission shall be the chairperson of the Working Council. <Amended on Feb. 29, 2008>
(4) Article 3(1), (2), and (5) shall apply mutatis mutandis to the operation of the Working Council. In such cases, "Council" shall be construed as "Working Council".
(5) Other matters necessary for the operation of the Working Council shall be determined by the chairperson following a resolution by the Working Council.
Article 6(Composition and operation of council of credit business-related agencies) #
(1) In each Special Metropolitan City, Metropolitan City, Do, and Special Self-Governing Province (hereinafter referred to as "City/Do"), a council of credit business-related agencies (hereinafter referred to as the "City/Do Council") shall be established in order to deliberate on matters regarding the efficient performance of duties relating to the credit business, etc. and the effective prevention and control of violations. <Amended on Apr. 21, 2009>
(2) The City/Do Council shall discuss the following matters: <Amended on Apr. 21, 2009>
1. Measures for cooperation among relevant agencies in connection with registration, management, and supervision of the credit business, etc.;
2. Measures for cooperation among relevant agencies for effectively cracking down on and preventing violations relating to the credit business, etc.;
3. Matters regarding recommendations for improvement of statutes, regulations, guidelines, and systems relating to the credit business, etc.;
4. Other matters necessary for efficiently performing duties relating to the credit business, etc.
(3) The following persons shall be members of the City/Do Council: <Amended on Feb. 29, 2008; Apr. 21, 2009; Dec. 31, 2020>
1. The following persons:
a. The Vice Mayor or Vice Governor in charge of duties relating to the credit business, etc. of the relevant City/Do;
b. One public official of Grade IV or higher, or a member of the Senior Executive Service (including public officials in special service equivalent thereto), belonging to the City/Do Police Agency or the Regional Tax Office having jurisdiction over the relevant City/Do, designated by the head of each relevant agency;
c. The head of the Regional Office of the Fair Trade Commission having jurisdiction over the relevant City/Do; provided, in the case of a City/Do under the jurisdiction of the Seoul Regional Office of the Fair Trade Commission, 1 public official of Grade IV or higher belonging to the Seoul Regional Office of the Fair Trade Commission, designated by the head of that Office, shall serve as a member;
2. One local public official of Grade III or higher belonging to the relevant City/Do, designated by the Mayor of a Special Metropolitan City, Mayor of a Metropolitan City, Do Governor, or Governor of a Special Self-Governing Province, where the chairperson of the City/Do Council deems it necessary;
Article 7(Request for cooperation from relevant agencies) #
The Council, the Working Council, or the City/Do Council may, when necessary to perform its duties, hear the opinions of relevant public officials or experts with specialized knowledge and experience, or request necessary cooperation, such as the submission of materials or opinions, from relevant agencies, organizations, etc.
Article 8(Allowances) #
The members, relevant public officials, and experts who attend meetings of the Council, the Working Council, or the City/Do Council may be paid allowances and travel expenses within the budget; provided, no allowances or travel expenses shall be paid where a public official attends in direct connection with the duties under their jurisdiction.