SPECIAL ACT ON ESTABLISHMENT OF AND SUPPORT FOR INTERNATIONAL SCIENCE AND BUSINESS BELT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to contribute to enhancing national competitiveness by creating a basic research environment of a global standard and by establishing the foundation for the convergence of basic research and business, through the development and support of an international science and business belt.

Article 2(Definitions) #

The terms used in this Act are defined as follows:

1. The term "international science and business belt" means an area designated and publicly notified pursuant to Article 10, where the central district and functional districts are interconnected to converge and develop basic research and business comprehensively and systematically;

2. The term "central district" means an area located in the international science and business belt, designated and publicly notified pursuant to Article 10 to fulfill pivotal functions in the field of basic research;

3. The term "functional district" means an area located in the international science and business belt, designated and publicly notified pursuant to Article 10 to conduct applied research, development research, commercialization, etc. in association with the central district;

4. The term "foreigner" means a person defined in Article 2(1)1 of the Foreign Investment Promotion Act;

5. The term "foreigner-invested company" means an enterprise defined in Article 2(1)6 of the Foreign Investment Promotion Act;

6. The term "foreign research institute" means a research institute in which a foreign investor or foreigner-invested company invests in accordance with the Foreign Investment Promotion Act to conduct research and development;

7. The term "foreign educational institute" means a school (including a branch school) established and operated pursuant to the statutes and regulations of a foreign country.

SPECIAL ACT ON ESTABLISHMENT OF AND SUPPORT FOR INTERNATIONAL SCIENCE AND BUSINESS BELT

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Responsibilities of the State and local governments) #

Article 4(Relationship to other statutes) #

Article 5(The Committee on International Science and Business Belt) #

Article 6(Administrative organization of the Committee on the International Science and Business Belt) #

Article 7(The Council of the International Science and Business Belt) #

Article 8(Establishment of master plans for international science and business belt) #

Article 9(Considerations of sites for districts in establishing master plans) #

Article 10(Designation of international science and business belt and districts) #

Article 11(Establishment and implementation of implementation plans) #

Article 12(Development of central district) #

Article 12-2(Formulation of plans for management and development of districts) #

Article 12-3(Classification of use of land in central district) #

Article 12-4(Approval for occupancy) #

Article 13(Preferential support for infrastructure) #

Article 14(Establishment of institutes for basic science) #

Article 14-2(Auxiliary organs) #

Article 15(Businesses of the Institute) #

Article 16(Executive officers) #

Article 17(Board of directors) #

Article 18(President) #

Article 19(Operation of research teams) #

Article 20(Division exclusively responsible for transfer and commercialization of technology) #

Article 21(Support for five-year plans of the Institute) #

Article 22(Financial resources for operation of the Institute) #

Article 23(Free loans) #

Article 24(Submission of business plans) #

Article 25(Legal fiction as public officials in application of penalty provisions) #

Article 26(Reporting and inspection) #

Article 27(Establishment of large basic research facilities) #

Article 28(Development and provision of sites for industrial facilities) #

Article 29(Support for foreigner-invested companies and foreign research institutes in taxation and finance) #

Article 30(Exclusion of foreign-capital invested institutions from application of other statutes) #

Article 31(Special cases of use of, profit from, and loan and sale of state-owned or public property) #

Article 32(Assistance in commercialization of outcomes of research) #

Article 33(Training of human resources in research and development and establishment of systems for exchange and cooperation between universities, research institutes, and enterprises) #

Article 34(Support for research and development projects) #

Article 35(Establishment and implementation of measures for diffusion of operational outcomes) #

Article 35-2(International science and business belt support institutions) #

Article 35-3(Participation in investment association) #

Article 36(Special cases on the Immigration Act) #

Article 37(Provision of foreign language services) #

Article 38(Re-transmission of foreign broadcasts) #

Article 39(Supply of housing units to foreigners) #

Article 40(Establishment of nursery schools exclusively for foreigners' children) #

Article 41(Establishment of foreigners' schools and support for operation) #

Article 42(Establishment and operation of foreign educational institutions) #

Article 43(Designation and operation of hospitals for medical treatment of foreigners) #

Article 44(Establishment of foreign medical institutions or pharmacies exclusive for foreigners) #

Article 45(Special cases on incidental business of medical institutions) #

Article 46(Support for facilities of education, culture and art, and tourism) #

Article 47(Special cases on the Building Act) #

Article 48(Delegation or entrustment of administrative authority) #

Article 49(Measures for stabilization of prices of real estate and prevention of unplanned development) #

Article 49-2(Legal fiction as public officials in application of penalty provisions) #

Article 50(Penalty provisions) #

Article 51(Joint penalty provisions) #

Article 52(Administrative fines) #