ENFORCEMENT DECREE OF THE SPECIAL ACT ON PROMOTION AND SUPPORT FOR SAEMANGEUM PROJECT

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ENFORCEMENT DECREE OF THE SPECIAL ACT ON PROMOTION AND SUPPORT FOR SAEMANGEUM PROJECT — 법갈피

Article 7(Designation of Project Implementers) #

(1) "Private investors meeting the qualifications prescribed by Presidential Decree, such as the amount of capital" in Article 8 (1) 4 of the Act means any of the following persons whose management soundness is in compliance with or above the standards prescribed by Decree of the Ministry of Land, Infrastructure and Transport (excluding those specified in subparagraphs 3 and 5 through 7); provided, excluded herefrom is a corporation that is undergoing rehabilitation under the Debtor Rehabilitation and Bankruptcy Act: <Amended on Nov. 4, 2014; Feb. 11, 2016; Jun. 2, 2017; Oct. 30, 2018; Jan. 5, 2021; Mar. 11, 2025>

1. A person registered in the business category for execution of general construction works under the Framework Act on the Construction Industry, whose amount of capital or appraised value of execution capacity publicly announced in accordance with Article 23 of the same Act, is at least the amount of annual average project cost required for the relevant development project (excluding compensation expenses; hereafter the same shall apply in this Article);

2. A person subject to external audit under Article 4 of the Enforcement Decree of the Act on External Audit of Stock Companies among trust business entities under the Financial Investment Services and Capital Markets Act;

3. A real estate investment company prescribed in the Real Estate Investment Company Act, which meets any of the following criteria and whose debt on financial statements is less than twice the amount of capital based on the investment reports publicly announced in accordance with Article 38 of that Act; and on which no disposition referred to in Article 39 (2) 1 and (2) of that Act or subparagraph 1 of Article 41 of the Enforcement Decree of the same Act, has been imposed during the preceding 3 years:

(a) The amount of the performance of annual average investment and management of assets conducted by methods falling under subparagraphs 1 through 3 and 6 of Article 21 of the Real Estate Investment Company Act during the preceding 3 years (in cases of an entrusted management real estate investment trust, referring to the annual average of the total amount of entrustment of investment and management recorded by asset management companies that have been entrusted by the relevant real estate investment trust to perform asset investment and management) shall be at least the annual average cost required for the relevant development project;

(b) The amount of capital specified in the business plan under Article 9 (2) 2 of the Real Estate Investment Company Act shall be at least 15/100 of the total project cost required for the relevant development plan;

4. A real estate development business entity under the Act on the Management and Promotion of Real Estate Development Business, who has received neither corrective measures under Article 22 of the Act on the Management and Promotion of Real Estate Development Business nor a business suspension orders under Article 24 (1) of that Act:

(a) Deleted; <Jan. 5, 2021>

(b) Deleted; <Jan. 5, 2021>

5. A small and medium enterprise cooperative under Article 3 of the Small and Medium Enterprise Cooperatives Act that intends to supply all or part of the land created by the Saemangeum Project to the members belonging thereto by sale, lease, etc.;

6. Any of the following foreign-capital invested companies incorporated for the purpose of implementing the Saemangeum Project:

(a) The total foreign investment ratios invested in the relevant foreign investment company by foreign investors under Article 2 (1) 5 of the Foreign Investment Promotion Act, who meet the following requirements, shall be at least 50/100;

1) The corporate bond rating or corporate credit rating of a credit rating company authorized to engage in credit-rating business in accordance with Article 335-3 of the Financial Investment Services and Capital Markets Act, or an internationally recognized foreign credit-rating agency shall be at least investment-grade:

2) The equity capital in the preceding year must be at least 10/100 of the total project cost required for the development project to be implemented by establishing a foreign investment company, or the total sale in the preceding year must be at least 30/100 of the total project cost required for the development project.

(b) The amount of foreign investment shall be at least 5/100 of the total project cost required for the relevant development project;

7. A person who meets at least 2 of the following requirements, including item (a), and the result of the evaluation of whose bonds and debentures or enterprise credit evaluation conducted by a credit rating company authorized to perform credit-rating business in accordance with Article 335-3 of the Financial Investment Services and Capital Markets Act, or by an internationally recognized foreign credit-rating agency is of at least investment grade:

(a) The equity capital in the preceding year is at least 10/100 of the total project cost required for the relevant development project; or the total sale is at least 30/100 of the total project cost required for the relevant development project (in cases of a corporation falling under Article 8 (1) 5 of the Act, the equity capital in the preceding year shall be at least 2.5/100 of the total project cost or 50 billion won);

(b) The debt ratio in the recent year is less than 1.5 times the industry average;

(2) A person who intends to be designated as a project implementer under Article 8 (1) of the Act shall submit data, including the following matters, to the Administrator of SDIA. The same shall also apply to alteration of any of the following matters: <Amended on Feb. 11, 2016>

1. Type and scale of the project;

2. Name of the intended project implementer (in cases of a corporation, the name of the corporation and the name of its representative) and his or her address;

3. Location and size of the area in which the project is to be implemented;

4. Purposes and methods for implementing the project;

5. Period for implementation of the project;

6. Details of projects, including detailed facility plan;

7. A detailed statement on amount of investment and funding plans;

8. Plans for the management and operation of facilities;

9. Revenue and expenditure plan, including use fees;

10. If he or she intends to obtain a government subsidy, the details thereof and reasons therefor;

11. Other matters necessary to implement the project.

Article 10(Formulation of Development Plans) #

(1) "Matters prescribed by Presidential Decree" in Article 9 (1) 12 of the Act means the following matters: <Amended on Feb. 11, 2016; Dec. 30, 2016; Jan. 5, 2021; May 7, 2024>

1. A topographic map or cadastral map specifying the development plan;

2. An urban disaster prevention plan;

3. An urban informatization plan;

4. A plan for underground facilities including utility tunnels;

5. A plan for the supply of community energy;

6. National heritage protection plans;

7. A plan for securing quarries and borrow pits;

8. An analysis of demand and economic feasibility of land for each use;

9. Other matters recognized by the Administrator of SDIA as necessary under related statutes, etc. referred to in Article 12 of the Act (hereinafter referred to as "related statutes, etc.").

(2) "Important matters prescribed by Presidential Decree" in the latter part of Article 9 (2) of the Act means any of the following matters. In such cases, subparagraphs 1 through 3 shall include cases where the accumulated total of the alterations meets the criteria prescribed in the relevant subparagraph: <Amended on Feb. 11, 2016>

1. An alteration exceeding 10/100 of the area to be developed or one million square meters;

2. An alteration of a land utilization plan referred to in Article 9 (1) 5 of the Act, which exceeds 10/100 of the relevant area for each use of the special-purpose area classified in the development plan;

3. An alteration of a funding plan in excess of 10/100 of the project cost;

4. Replacement of a project implementer.

(3) Upon approving a development plan or approval of an amendment thereto under Article 9 (5) of the Act, the Administrator of SDIA shall publicly notify the following matters in the Official Gazette: <Amended on Feb. 11, 2016; Jun. 2, 2017>

1. Name of the project;

2. Outline of the project plan;

3. Period of project implementation and implementation plan by stage;

4. Project costs;

5. A land utilization plan;

6. A plan for environmental conservation;

7. Name of the project implementer (in cases of a corporation, the name of the corporation and the name of its representative) and his, her or its address;

8. Reasons for alterations (if any);

9. Methods of inspecting related drawings and specifications;

10. Other matters recognized by the Administrator of SDIA as necessary under related statutes, etc.

(4) The head of the related local government shall make the details of copies of the documents related to the development plan approved under Article 9 (5) of the Act, available for perusal by the public for at least 30 days from the date they are received. <Amended on Jun. 2, 2017>

Article 11(Application for Approval of Implementation Plans) #

(1) Pursuant to Article 11 (1) of the Act, a project implementer shall prepare and file an application for approval of an implementation plan, including the matters referred to the subparagraphs of paragraph (2) of the same Article, within two years from the date of approval and public notice of the development plan; provided, the same shall not apply where the project implementer requests extension of the deadline for the application due to any extenuating circumstances acknowledged by the Administer of the Agency. <Amended on Feb. 11, 2016>

(2) "Matters prescribed by Presidential Decree" in Article 11 (2) 13 of the Act means the following matters: <Amended on Feb. 11, 2016>

1. A plan to transfer and replace public facilities, land, etc.;

2. A topographic map or cadastral map specifying the development plan, the scale of which is at least 1/5,000;

3. A document stating the details of the locations, lot numbers, land categories, areas, ownership, and any rights other than ownership of the land, etc., to be expropriated or used, and the names and addresses of their owners and other persons holding the right thereto;

4. Matters regarding the provisions of Article 10 (1) 2 through 7;

5. Other matters recognized by the Administrator of SDIA as necessary to facilitate implementation of the development project for each land use.

(3) The head of a central administrative agency in receipt of a request for consultation about an implementation plan under Article 11 (3) of the Act shall send his or her opinion within 20 days from the receipt thereof; and if he or she fails to send his or her opinion within such period, the implementation plan shall be deemed to have undergone a consultation without objection. <Amended on Feb. 11, 2016>

(4) "Important matters of an implementation plan prescribed by Presidential Decree" in the latter part of Article 11 (3) of the Act means any of the following matters. In such cases, subparagraphs 1 through 3 shall include where the accumulated total of the alterations meets the criteria prescribed in the relevant subparagraph: <Amended on Feb. 11, 2016>

1. An alteration exceeding 10/100 of the area to be developed or one million square meters;

2. Amending a land utilization plan referred to in Article 11 (2) 6 of the Act, which exceeds 10/100 of the relevant area for each use of the special-purpose area classified in the development plan;

3. A revision of project costs in excess of 10/100 thereof;

4. Replacement of a project implementer.

(5) Upon approving an implementation plan or approval to amend the same under Article 11 (5) of the Act, the Administrator of SDIA shall give public notice of the following matters in the Official Gazette: <Amended on Feb. 11, 2016>

1. Name of the project;

2. Objectives and outline of the project;

3. Location and size of the area in which the project is to be implemented;

4. Period for implementing the project;

5. A land utilization plan;

6. A plan for management of the environment;

7. Name of the project implementer (in cases of a corporation, the name of the corporation and the name of its representative) and his, her or its address;

8. Reasons for alterations (if any);

9. A document stating the details of the locations, lot numbers, land categories, areas, ownership, and any rights other than ownership of the land, etc. to be expropriated or used, and the names and addresses of its owners and persons holding the right thereto;

10. Methods of inspecting related drawings and specifications;

11. Other matters recognized by the Administrator of SDIA as necessary under related statutes, etc.

(6) The Jeonbuk Special Self-Governing Province Governor shall make the details of the documents related to the development plan, approved or approved for alteration thereof under Article 11 (5) of the Act, available for perusal by the public for at least 30 days from the date they are received, by posting them on the website, or by other means. <Amended on Feb. 11, 2016; Dec. 24, 2024>

Article 11-3(Exclusion of, Challenge to, or recusal of, Members) #

(1) In any of the following cases, a member of the Integrated Deliberation Committee (hereafter referred to as "committee member" in this Article and Article 11-4) shall be excluded from deliberations and resolutions by the Integrated Deliberation Committee:

1. If the committee member or the current or former spouse of the committee member is a party involved in the relevant agenda item (including an executive officer of a corporation, an organization, or similar entity, if the party is a corporation, an organization or similar entity; hereafter in this subparagraph and subparagraph 2 the same shall apply); or is a joint holder of a right or a joint obligor involved in the relevant agenda item;

2. If the committee member is a current or former relative of a party involved in the relevant agenda item;

3. If the committee member has provided consulting, research, or other service (including subcontracting) or has served as an appraiser or an investigator in connection with the relevant agenda item;

4. If the committee member or the corporation, organization, or any entity to which the committee member belongs is the current or former agent of a party involved in the relevant agenda item;

5. If the corporation, organization, or any entity for which the committee member works or worked during the last three years as an executive officer or employee has provided consulting, research, or other service (including subcontracting) or has served as an appraiser or an investigator in connection with the relevant agenda item.

(2) If the circumstances indicate that it would be difficult for a party to the relevant agenda item to expect fair deliberations and resolutions from a committee member, the party may file a request to challenge the committee member with the Integrated Deliberation Committee; and the Integrated Deliberation Committee shall determine whether to accept the request by resolution. In such cases, the committee member to whom the challenge has been made shall not participate in the resolution.

(3) If the status of a committee member falls within the grounds for exclusion under the subparagraphs of paragraph (1), he or she shall voluntarily recuse himself or herself from deliberations and resolutions on the relevant agenda item.

[This Article Added on Mar. 26, 2019]

Article 11-6(Designation of Saemangeum Investment Promotion Zones) #

(1) Where the Administrator of SDIA designates a Saemangeum Investment Promotion Zone (hereinafter referred to as "investment promotion zone") pursuant to Article 11-5 (1) of the Act, he or she shall formulate a plan for designating an investment promotion zone (hereinafter referred to as "designation plan") including the following matters:

1. Name, location and size of the investment promotion zone;

2. Name, trade name, or title (limited to where an application is filed under paragraph (2)) of an investor under Article 11-5 (1) of the Act (hereinafter referred to as "investor");

3. Method of developing or managing the investment promotion zone;

4. Scale of investment, employment, and business plan;

5. Expected effects from the designation of an investment promotion zone;

6. Financing plans;

7. Other matters deemed necessary by the Administrator of the SDIA.

(2) An investor may file an application for designation of an investment promotion zone in the form determined by the Ministerial Decree of the Land, Infrastructure and Transport, along with a business plan, with the Administrator of SDIA.

(3) The Saemangeum Committee referred to in Article 33 of the Act (hereinafter referred to as "SDIA Committee") shall comprehensively take into account the feasibility of investment to be attracted, the efficient use of land, job creation effects, and other impacts on the local economy, in deliberating on the designation of an investment promotion zone under Article 11-5 (1) of the Act.

(4) Where the Administrator of SDIA designates an investment promotion zone pursuant to Article 11-5 (1) of the Act, he or she shall publicly notify the matters referred to in the subparagraphs of Article 11-5 (2) of the Act in the Official Gazette or on the website of SDIA, and immediately notify them to the Commissioner of the National Tax Service, the Commissioner of the Korea Customs Service, the Jeonbuk Special Self-Governing Province Governor, and the investors (if only there is an application filed under paragraph (2)). <Amended on Dec. 24, 2024>

(5) Except as provided in paragraphs (1) through (4), detailed matters necessary for the designation of an investment promotional zone shall be determined and publicly notified by the Administrator of SDIA.

[This Article Added on Jun. 27, 2023]

Article 12(Restrictions on Acts) #

(1) The activities requiring permission by the Administrator of SDIA under the former part of Article 13 (1) of the Act shall be as follows: <Amended on Feb. 11, 2016; Jan. 5, 2021>

1. Construction, etc. of a building: Construction or substantial repair of a building defined in Article 2 (1) 2 of the Building Act (including temporary buildings) or alteration thereof for another use;

2. Erecting structures: Installation of facilities artificially manufactured (excluding the structures under Article 2 (1) 2 of the Building Act);

3. Alteration of land form and quality: Altering the form of land by cutting, mounding, leveling, or paving the earth, or excavation of the ground or reclamation of public waters;

4. Gathering earth and rocks: Gathering earth and rocks, such as soil, sand, gravel and rock; provided, where such gathering aims at changing the form and quality of land, subparagraph 3 shall apply;

5. Partition of land;

6. Piling goods: Piling up goods that cannot be easily moved, for at least one month;

7. Planting and felling bamboo trees.

(2) Where the Administrator of SDIA intends to grant permission for acts referred to in the subparagraphs of paragraph (1) and where a project implementer is designated, he or she shall hear the opinion of the relevant project implementer. <Amended on Feb. 11, 2016>

(3) "Acts prescribed by Presidential Decree" in Article 13 (2) 2 of the Act means countermeasures for accidents or disasters to be taken under the Act on the Prevention of and Countermeasures against Agricultural and Fishery Disasters, the Framework Act on Fire-Fighting Services; the Act on the Search and Rescue in Waters, Countermeasures against Natural Disasters Act; and the Framework Act on the Management of Disasters and Safety. <Amended on Jan. 22, 2016>

(4) A person who intends to file a report with the Administrator of SDIA under Article 13 (3) of the Act shall prepare a report on the status of promoting the construction works or project as prescribed by Ministerial Decree of the Land, Infrastructure and Transport and submit such report to the Administrator of SDIA, along with the following data: <Amended on Feb. 11, 2016>

1. An application for permission made under the relevant statutes or regulations and documents evidencing reported matters;

2. Photographs verifying the process as of the reporting date;

3. Drawings and specifications related to the construction works or project, including layout drawings (limited to changing the form and quality of land and gathering earth and rocks, etc.);

4. Deleted. <Dec. 30, 2016>

Article 14(Completion Inspections) #

(1) A project implementer who intends to undergo a completion inspection under Article 20 (1) of the Act shall submit a construction completion report, including the following matters, to the Administrator of SDIA; provided, where only a public water reclamation project defined in subparagraph 4 of Article 2 of the Public Waters Management and Reclamation Act has been implemented, matters referred to in subparagraphs 5 and 6 need not be included: <Amended on Feb. 11, 2016; Jun. 2, 2017>

1. Name of the project implementer (in cases of a corporation, the name of the corporation and the name of its representative) and its address;

2. Name of the project;

3. Location and size of the area in which the project is to be implemented;

4. Period for implementing the project;

5. A land utilization plan;

6. An infrastructure plan.

(2) A construction completion report referred to in paragraph (1) shall be accompanied by the following documents and drawings: <Amended on Jun. 2, 2017>

1. As-built drawings and specifications (including as-built photographs);

2. Cadastral survey result drawings issued by the head of a Si/Gun;

3. Plan for disposal of created land;

4. A report and drawings on the transfer of public facilities, land, etc. under Article 25 of the Act;

5. Detailed statement of land to be acquired by the project implementer and land, etc. to be transferred to the State or local governments under Article 46 (1) of the Public Waters Management and Reclamation Act and Article 51 of the Enforcement Decree of the same Act (excluding cases falling under Article 14 (4) of the Act);

6. A report on the size of land and a ground plan, by purpose of use.

(3) Where the Administrator of SDIA intends to conduct a completion inspection under paragraph (1), he or she shall notify such fact to the heads of the State agencies or local governments prearranged to acquire or manage the public facilities included in the construction completion report by at least five days prior to the completion inspection date, and the head of a State agency or local government who intends to participate in the completion inspection shall make notification on whether he or she will participate therein by no later than the date before the completion inspection. <Amended on Feb. 11, 2016; Jun. 2, 2017>

(4) "Specialized inspection institution prescribed by Presidential Decree" in the latter part of Article 20 (1) of the Act means a construction engineering business entity registered under Article 26 of the Construction Technology Promotion Act (which shall be different from the supervisor of the relevant project). <Amended on May 22, 2014; Jan. 7, 2020; Sep. 14, 2021>

(5) A project implementer who intends to obtain permission to use any land or facilities created or installed by the Saemangeum Project before they are completed under Article 20 (4) of the Act shall submit the following data to the Administrator of SDIA: <Amended on Feb. 11, 2016>

1. Documents explaining the reasons for, or urgency of, the use before the completion;

2. Progress of development or installation of land or facilities intended to be used;

3. Written opinion of the construction supervisor or superintendent regarding the usability, safety, etc. of the land or facilities to be used;

4. Drawings and photographs showing the completion stage of the land or facilities to be used;

5. Survey drawings indicating the land to be used.

Article 17(Methods for Supplying Created Land) #

(1) A project implementer who intends to supply created land under Article 22 (1) of the Act shall supply it through competitive bid; provided, in any of the following cases, the land can be supplied by lot: <Amended on Dec. 28, 2015; Aug. 11, 2016>

1. Land for detached houses, which does not exceed 330 square meters;

2. Land for construction of national housing defined in subparagraph 5 of Article 2 of the Housing Act;

3. Land for construction of private rental housing defined in subparagraph 2 of Article 2 of the Special Act on Private Rental Housing or public housing defined in subparagraph 1-2 of Article 2 of the Special Act on Public Housing;

4. Industrial land.

(2) Notwithstanding paragraph (1), created land may be supplied by free contract in any of the following cases; provided, where the quantity applied for supply exceeds the planned quantity when the land is supplied under subparagraph 4, it shall be supplied by lottery: <Amended on Feb. 11, 2016>

1. Where land for public facilities, such as land for public office buildings and school facilities, that cannot be sold to the general public is supplied to the State, a local government or any other person able to install the relevant facilities under statutes or regulations;

2. Where the minimum area of land necessary to maintain and manage facilities to be maintained in accordance with the implementation plan is supplied;

3. Where land not exceeding 330 square meters is supplied to a person who has transferred, to the relevant project implementer, all the land owned by him or her (limited to where the area of the relevant land is at least 1,000 square meters; and including any goods or rights falling under Article 3 of the same Act which exist on the relevant land) within the zone where a project implementer executes a development project, accepting the result of the consultation held under the Act on Acquisition of and Compensation for Land for Public Works Projects (limited to where the land has been owned since before the date of public notice of the approval of an implementation plan under Article 11 (5) of the Act; and if the land has been owned thereafter, including where all the land owned by a former owner within the zone for development project to be implemented by the relevant project implementer has been acquired from him or her and where the land has been acquired by a court decision or inheritance);

4. Where industrial land or land for tourism and leisure is supplied to a foreign-capital invested company;

5. Where there has been no successful bidder or lottery winner at least twice, following competitive bidding or drawing lotteries;

6. Where land is supplied to an enterprise that has concluded an investment agreement with the Administrator of SDIA in accordance with the strategy to invite investments included in the Master Plan;

7. Other cases where land is eligible to be supplied by free contract under related statutes or regulations.

(3) In supplying created land, the project implementer may restrict the qualifications of persons to whom land for the specific facilities determined by the Administrator of SDIA, such as land for school facilities and medical facilities, is supplied. <Amended on Feb. 11, 2016>

(4) In determining the prices of created land, the project implementer may determine different prices by land use, supply conditions, and objects to be supplied, for the development of the Saemangeum Project Area.

(5) Where a project implementer intends to supply created land, he or she shall announce the following matters by no later than ten days (five days, in cases of urgency or resupply) before the deadline for the application for supply; provided, the same shall not apply to where the objects of supply are limited, in such cases as the land is to be supplied by a free contract under paragraph (2) or the qualifications of the objects of supply are restricted under paragraph (3):

1. Name of the project implementer (in cases of a corporation, the name of the corporation and the name of its representative) and its address;

2. Location, area and use (where any prohibition or restriction is imposed on the land use, including the details of the prohibition or restriction) of the created land;

3. Timing, methods and conditions for supply;

4. Supply prices;

5. Period and venue for filing applications for supply;

6. Qualification for application for supply;

7. Documents required for filing an application for supply.

(6) Detailed standards for the methods of supply, supply prices, etc. where created land is supplied under paragraphs (1) through (4), shall be separately determined and publicly notified by the Administrator of SDIA. <Amended on Feb. 11, 2016>

(7) Notwithstanding paragraphs (1) through (6), the supply of land created by an agricultural infrastructure rearrangement project defined in subparagraph 4 (a) of Article 2 of the Agricultural and Fishing Villages Improvement Act shall be governed by Article 14 (1) through (4) of the same Act and Articles 12 through 22 of the Enforcement Decree of the same Act. <Amended on Jun. 2, 2017>

Article 18(Application for Approval of Supply Plans of Undeveloped Land) #

(1) A project implementer who intends to obtain approval of a plan for supplying undeveloped land under Article 22 (1) of the Act shall submit a supply plan thereof, stating the following matters, to the Administrator of SDIA, along with a topographic map indicating the boundary of the undeveloped land to be supplied: <Amended on Feb. 11, 2016>

1. Location, area and purposes of supply of the undeveloped land to be supplied;

2. Matters regarding the person who intends to receive and develop the undeveloped land (hereinafter referred to as "undeveloped land developer");

3. A plan for developing undeveloped land, including a plan for accommodating population in the undeveloped land; a land use plan, a traffic management plan, an environment conservation plan; a plan for installing major infrastructure; and other plans for use of undeveloped land;

4. Conditions for use of undeveloped land;

5. Estimated supply prices and major terms and conditions of the contract;

6. Other matters recognized by the Administrator of SDIA as necessary for the smooth supply of undeveloped land.

(2) An undeveloped land developer under Article 22 (5) of the Act shall be selected by free contract.

(3) Supply prices of undeveloped land under Article 22 (5) of the Act shall be determined, following consultation between the project implementer and the undeveloped land developer, based on the amount obtained by adding the construction cost of infrastructure, etc. installed by the project implementer on the undeveloped land to the appraised value of the undeveloped land reflected in the implementation plan. <Amended on Feb. 11, 2016>

(4) The scope of duties of a project implementer and an undeveloped land developer under Article 22 (5) of the Act shall be determined by supply contact; and a project implementer shall take charge of the duties prescribed by related statutes or regulations, such as applying for authorization, permission, etc. for creation of undeveloped land.

Article 21(Advance Payment) #

(1) A project implementer who intends to receive payment of the price in advance under Article 23 (1) of the Act shall meet the requirements classified as follows: <Amended on Feb. 11, 2016; Dec. 30, 2016>

1. A project implementer falling under any of Article 8 (1) 1 through 3 of the Act: It must first have obtained approval of the implementation plan of the relevant development project from the Administrator of SDIA;

2. A project implementer falling under Article 8 (1) 4 of the Act: It shall meet all of the following requirements after obtaining approval of the implementation plan of the relevant development project from the Administrator of SDIA:

(a) It shall secure ownership of the created land, etc. (referring to "created land, etc." under Article 22 (1) of the Act; hereinafter the same shall apply) intended for supply (excluding where no ownership is verified due to the execution of a reclamation project) and ensure that there shall be no fetter on the exercise of the ownership thereof by canceling or settling mortgages, etc. on the relevant created land, etc., if any; provided, where it fails to secure ownership of or to cancel or settle mortgages, etc. on the relevant created land, etc. in any extenuating circumstance, the project implementer, owner, mortgagees, etc. of the land shall submit a joint agreement including the following matters to the Administrator of SDIA after authenticating the agreement;

(i) The landowner shall not transfer the relevant created land, etc. or provide it to any third party as collateral;

(ii) Where a person who has made an advance payment becomes able to use the relevant created land, etc. by undergoing a completion inspection or obtaining permission to use it before receiving a completion inspection, the landowner or mortgagee, etc. shall promptly transfer the ownership and cancel or settle mortgages, etc.;

(b) The project to develop created land, etc. intended for supply shall have been commenced;

(c) To guarantee the refund of the advance payment in cases of a failure to fulfill a supply contract, the project implementer shall submit a letter of guarantee, etc. (referring to a letter of guarantee, a guarantee insurance policy, a term deposit certificate, a beneficiary certificate, etc. under Article 37 (2) of the Enforcement Decree of the Act on Contracts to which the State Is a Party; hereafter the same shall apply in this Article), stating the guaranteed or insured amount, period, etc., to the Administrator of SDIA;

3. A project implementer falling under Article 8 (1) 5 of the Act: It shall have commenced the development project after securing ownership of at least 30/100 of the area of created land, etc. intended for supply with approval of the implementation plan of the relevant development project granted by the Administrator of SDIA (excluding where no ownership is confirmed due to execution of a reclamation project).

(2) Upon receipt of an application for approval for receipt of an advance payment under Article 23 (2) of the Act from a project implementer, the Administrator of SDIA shall determine whether to approve it and notify the project implementer of the result. <Amended on Feb. 11, 2016>

(3) Where a project implementer fails to execute the project pursuant to the supply contract or is deemed to lack capability to perform it after receiving an advance payment, the Administrator of SDIA may use the relevant letter of guarantee, etc. for the refund of the advance payment. <Amended on Feb. 11, 2016>

Article 27(Organization of the Saemangeum Committee) #

(1) Members of the Saemangeum Committee under the subparagraphs of Article 33 (4) of the Act are as follows: <Amended on Nov. 19, 2014; Feb. 11, 2016; Jul. 26, 2017; Dec. 24, 2024>

1. The Minister of Economy and Finance, The Minister of Science and ICT, the Minister of the Interior and Safety, the Minister of Culture, Sports and Tourism, the Minister of Agriculture, Food and Rural Affairs, the Minister of Trade, Industry and Energy, the Minister of Environment, the Minister of Employment and Labor, the Minister of Land, Infrastructure and Transport, the Minister of Oceans and Fisheries, The Minister of the Office of Government Coordination, the Administrator of SDIA, and the Jeonbuk Special Self-Governing Province Governor;

2. Persons commissioned by the Prime Minister from among civilian experts in academic circles, research institutes, civic groups, etc. in the fields of agriculture, environment, maritime affairs, urban affairs or culture, who have extensive knowledge of and experience in the relevant field.

(2) Each of the co-chairpersons prescribed in Article 33 (4) of the Act (hereinafter referred to as the "co-chairpersons") shall represent the Saemangeum Committee, respectively, and exercise overall control over its affairs.

(3) Where both of the co-chairpersons are unable to perform any of their duties in extenuating circumstances, a member pre-designated by the chairperson who is the Prime Minister shall act on their behalf.

(4) The terms of office of a chairperson commissioned by the President under Article 33 (4) of the Act and members commissioned under paragraph (1) 2 of this Article shall be two years, respectively. <Amended on Feb. 11, 2016>

(5) A majority of the members of the Saemangeum Committee shall constitute a quorum, and any resolution thereof shall require the concurring vote of at least a majority of those present.

(6) A co-chairperson may have the heads, etc. of institutions and local governments related to the agenda submitted to the Saemangeum Committee attend and speak at a meeting thereon.

(7) Except as provided in this Decree, matters necessary for the operation of the Saemangeum Committee shall be determined by the co-chairpersons, following resolutions made by the Saemangeum Committee.

Article 31-5(Scope of sites for public facilities and buildings for public support) #

(1) "Sites for the public facilities prescribed by Presidential Decree" in Article 36-9 (1) 1 (b) of the Act means the land required to establish urban or Gun planning facilities under subparagraph 7 of Article 2 of the National Land Planning and Utilization Act. <Amended on Jun. 2, 2025>

(2) "Buildings prescribed by Presidential Decree" in Article 36-9 (1) 1 (g) of the Act means any of the following buildings located within the Saemangeum Project Area: <Added on Jun. 2, 2025>

1. Any of the following buildings used for economic activities in which small and medium enterprises under the Framework Act on Small and Medium Enterprises, startups, aspiring business starters, re-startups, or aspiring business re-starters under the Support for Small and Medium Enterprise Establishment Act, or micro enterprises under the Framework Act on Micro Enterprises (hereafter in this Article referred to as "small or medium enterprises, etc." ) are taking occupancy, which is directly leased by the Corporation or converted for sale after the lease:

(a) Type I neighborhood living facilities referred to in subparagraph 3 of Appendix 1 of the Enforcement Decree of the Building Act;

(b) Type II neighborhood living facilities referred to in subparagraph 4 of Appendix 1 of the Enforcement Decree of the Building Act;

(d) Research institutes referred to in subparagraph 10 (e) of Appendix 1 of the Enforcement Decree of the Building Act;

(e) Business facilities referred to in subparagraph 14 of Appendix 1 of the Enforcement Decree of the Building Act;

(f) Factories referred to in subparagraph 17 of Appendix 1 of the Enforcement Decree of the Building Act;

(g) Warehouses referred to in subparagraph 18 (e) of Appendix 1 of the Enforcement Decree of the Building Act;

2. Buildings used by the State, a local government, a public institution under the Act on the Management of Public Institutions, or a non-profit corporation established in accordance with the Civil Act or any other statute to support the management, technology development, etc. of any of the following enterprises located in the Saemangeum Project Area:

(a) Small and medium enterprises, etc.;

(b) Enterprises taking occupancy in industrial complexes under the Industrial Sites and Development Act;

(c) Enterprises taking occupancy in logistics complexes under the Act on the Development and Management of Logistics Facilities;

3. Buildings used to support education, research, culture, administration, information and communications, health, welfare, sports, distribution, traffic, etc. for residents, employees, etc.;

4. Complex buildings used for at least 2 purposes among the purposes referred to in subparagraphs 1 through 3;

5. Exclusive parking buildings under subparagraph 11 of Article 2 of the Parking Lot Act; provided, where there is a part used for purposes other than parking lots in accordance with the proviso of Article 1-2 (1) of the Enforcement Decree of the Parking Lot Act, it shall be limited to cases where the part used for the purposes referred to in subparagraphs 1 through 3 is at least 50% of the part used for purposes other than parking lots.

[This Article Added on Sep. 18, 2018]

[Title Amended on Jun. 2, 2025]

Article 31-23(Scope of Partner Companies of Foreign-Capital Invested Companies) #

(1) "Company prescribed by Presidential Decree" in Article 45-2 (1) of the Act, with the exception of its subparagraphs, means an enterprise meeting all of the following requirements:

1. Its scale of investment in the Saemangeum Project Area shall be at least one billion won or the number of regular employees shall be at least 10 persons;

2. It shall be an enterprise that has any of the following relations with a foreign-capital invested company and shall be acknowledged by the Administrator of SDIA as maintaining a partnership therewith:

(a) It shall have a record of purchasing or selling raw materials, products or services;

(b) It shall have entered into a contract to provide or introduce technologies, or to jointly research and develop technologies;

3. It shall not have received any support under Article 14 or 14-2 of the Foreign Investment Promotion Act.

(2) "Funds deemed by Presidential Decree" in Article 45-2 (1) 5 of the Act means funds acknowledged by the Administrator of SDIA as necessary for settling at an early stage.

(3) A person who intends to receive financial support under Article 45-2 (1) of the Act shall submit an application to the Administrator of SDIA, along with an investment plan including the following:

1. Total amount to be invested in the Saemangeum Project Area and the details of investment;

2. Scale of employment;

3. Ripple effects of technology;

4. Degree of contribution to the local economy;

5. Other matters determined and publicly notified by the Administrator of SDIA.

(4) Upon receiving an application filed under paragraph (3), the Administrator of SDIA shall determine whether to provide financial support, following negotiation with the applicant and deliberation and resolution by the Saemangeum Committee.

(5) Where it is determined to provide financial support pursuant to paragraph (4), the Administrator of SDIA may pay the relevant funds in lump sum within one year from the date the support is determined, or in not exceeding ten installments, for a period not exceeding five years.

(6) Other than those provided for in paragraphs (1) through (5), detailed matters necessary for financial support, etc. shall be determined by the Administrator of SDIA, following deliberation by the Saemangeum Committee.

[This Article Added on Feb. 11, 2016]

[Moved from Article 31-22 <Jun. 27, 2023>]

Article 32(Lease of Land and Buildings) #

(1) "Companies and research institutes prescribed by Presidential Decree" in the former part of Article 46 (1) of the Act means any of the following companies and research institutes: <Amended on Jul. 28, 2020>

1. Company: A company with the investment amount of at least one billion won (at least 30 billion won for a company which is neither a small or medium enterprise defined in Article 2 (1) of the Framework Act on Small and Medium Enterprises nor a middle-standing enterprise defined in subparagraph 1 of Article 2 of the Special Act on the Promotion of Growth and the Strengthening of Competitiveness of Middle-Standing Enterprises), which falls under any of the following:

(a) A company operating any of the following business or industries:

(i) Tourism business defined in subparagraph 1 of Article 2 of the Tourism Promotion Act;

(ii) Cultural industry defined in subparagraph 1 of Article 2 of the Framework Act on the Promotion of Cultural Industries;

(iii) Business that produces electricity by using new energy defined in subparagraph 1 of Article 2 of the Act on the Promotion of the Development, Use and Diffusion of New and Renewable Energy or renewable energy defined in subparagraph 2 of the same Article;

(iv) Knowledge-based industries defined in subparagraph 8 of Article 2 of the Industrial Cluster Development and Factory Establishment Act;

(v) Information and communications technology industry defined in subparagraph 2 of Article 2 of the Information and Communications Technology Industry Promotion Act;

(vi) Business of establishing and operating superstores defined in subparagraph 3 of Article 2 of the Distribution Industry Development Act;

(vii) Logistics business defined in Article 2 (1) 2 of the Framework Act on Logistics Policies;

(viii) Business of operating youth training facilities referred to in subparagraph 1 of Article 10 of the Youth Activity Promotion Act;

(ix) Business of operating medical institutions established under Article 33 of the Medical Service Act (excluding any medical clinics, dental clinics, Korean medicine clinics, and midwifery clinics);

(x) Business of operating training centers specified in subparagraph 10 (b) of Appendix 1 of the Enforcement Decree of the Building Act;

(b) Excluding the business or industries provided in sub-item (i) through (x) of item (a), a company that operates any of the following business, from among those falling within the Classification of the Korean Standard Industrial Classification publicly notified by the Commissioner of the Statistics Korea in accordance with Article 22 of the Statistics Act:

(i) Manufacturing;

(ii) Electricity, gas, steam, and water supply;

(iii) Wholesale and retail trade;

(iv) Transportation;

(v) Accommodation and restaurant business;

(vi) Publication, video, broadcasting communications, and information services;

(vii) Professional, scientific and technical services;

(viii) Business facilities management and business support services;

(ix) Education services;

(x) Health services and social welfare services;

(xi) Arts, sports and recreation-related services;

(c) Other companies operating the type of business separately determined and publicly notified by the Administrator of SDIA to facilitate the implementation of the Saemangeum Project.

2. Research institute: Any of the following institutes:

(a) A government-funded research institute as defined in Article 2 of the Act on the Establishment, Operation and Fostering of Government-Funded Research Institutes;

(b) A government-funded science and technology research institute as defined in Article 2 of the Act on the Establishment, Operation and Fostering of Government-Funded Science and Technology Research Institutes;

(d) Research institutes in the field of industrial technology established as corporations under the Civil Act or other statutes;

(e) Research institutes affiliated with schools under Article 2 of the Higher Education Act;

(f) A research institute specialized in manufacturing technology under Article 42 of the Industrial Technology Innovation Promotion Act;

(g) Research institutes affiliated with enterprises recognized pursuant to Article 14-2 (1) of the Basic Research Promotion and Technology Development Support Act.

(2) "Saemangeum Project Area prescribed by Presidential Decree" in the former part of Article 46 (1) of the Act means the area defined in subparagraph 1 of Article 2 of the Act.

Article 41(Reduction of or Exemption from Use Fees or Rents for State or Public Property) #

(1) "Research institutes prescribed by Presidential Decree" in Article 58 (4) of the Act means the research institutes referred to in Article 32 (1) 2. <Added on Jul. 28, 2020>

(2) Where annual use fees or rents (hereinafter referred to as "use fees, etc.") for the State or public property are reduced or exempted pursuant to Article 58 (4) of the Act, such use fees, etc. shall be determined by multiplying the value of the relevant State or public property by at least 1/100. In such cases, the value of the State property shall be computed according to Article 29 (2) of the Enforcement Decree of the State Property Act, and the use fees, etc. for the relevant State property shall be determined by the head of a central government agency prescribed in Article 6 of the National Finance Act (hereinafter referred to as the "head of a central government agency"). <Amended on Mar. 26, 2019; Jul. 28, 2020>

(3) Detailed matters such as business eligible for the reduction of or exemption from the use fees, etc. for public property under Article 58 (4) of the Act and the rate of reduction of or exemption from use fees, etc. shall be prescribed by ordinance of the relevant local government. <Amended on Mar. 26, 2019; Jul. 28, 2020; Nov. 16, 2023>

(4) Where an enterprise that moves into the Saemangeum Project Area and a research institute under paragraph (1) (hereinafter referred to as "enterprises, etc.") intend to be granted reduction of or exemption from use fees, etc. for the State or public property pursuant to Article 58 (4) of the Act, it shall file an application for reduction or exemption with the head of a competent central government agency or the head of a competent local government. <Amended on Jul. 28, 2020>

(5) When the State or a local government sells any State or public property to the enterprises, etc. moving into Saemangeum Project Area under Article 58 (5) of the Act, if it is recognized impracticable for a purchaser to pay the purchase price in lump sum, the State or the local government may extend the payment due date or permit payment in installments as follows; in such cases, the applicable interest rate shall not exceed four percent per annum: <Amended on Mar. 26, 2019; Jul. 28, 2020>

1. In cases of the State property: To extend the payment due date by up to one year or to allow payment in installments within 20 years;

2. In cases of public property: To postpone the payment due date or to allow payment in installments as prescribed by municipal ordinance.

(6) Except as provided in the Act and this Decree, permission to use and make profits from the State and public property, or lease or sale of such property under Article 58 (5) of the Act shall be governed by the State Property Act and the Public Property and Commodity Management Act. <Amended on Jul. 28, 2020>

[This Article Wholly Amended on Mar. 26, 2019]

Article 44(Appointment of Foreign Teachers) #

(1) The qualifications for appointment of foreign teachers necessary for the operation of educational courses of an international high school referred to in Article 61 (7) of the Act (hereinafter referred to as "international high school") shall be as follows: <Amended on Sep. 8, 2020>

1. A person who meets the qualifications prescribed in Article 21 (2) of the Elementary and Secondary Education Act and is qualified as a middle school teacher specified in the Appendix 2 of the same Act;

2. A person who has at least three years of experience in teaching after becoming qualified as a teacher in accordance with the law of his or her own country.

(2) Where necessary for the operation of the educational courses of an international high school, a person who has the authority to appoint teachers may appoint a foreigner as an instructor.

(3) The qualifications for a foreign instructor referred to in paragraph (2) shall be as follows:

1. A person who falls under any subparagraph of paragraph (1);

2. A person who has obtained at least bachelor's degree in accordance with the law of his or her own country.

(4) Where a foreigner who falls under paragraph (3) 2 is appointed as an instructor, he or she shall undergo training conducted by the head of the relevant international high school for at least one week within six months from the appointment.

(5) The contract for a foreign teacher under paragraph (1) shall be concluded every five years, and the appointment shall be made only for the subjects related to his or her mother tongue or subjects that the head of the international high school deems necessary; and the period of appointment of a foreign instructor under paragraph (2) shall not exceed one year, but may be extended by up to three years, if necessary.

(6) Remuneration of a foreign teacher and a foreign instructor under paragraphs (1) and (2) may be paid in accordance with their employment contracts, taking into account the provisions of Article 5 of the Public Officials Remuneration Regulations and Appendix 11 of the same Regulations.

(7) The services of a foreign teacher and a foreign instructor under paragraphs (1) and (2) shall be governed by the provisions of their employment contracts.

Article 47(Application for Permission for Casino Business) #

(1) A person who intends to apply for permission for the casino business under Article 63 (2) of the Act shall submit an application for permission for the foreigner-invested casino business prescribed by Ministerial Decree of the Land, Infrastructure and Transport (including an application in electronic form) to the Minister of Culture, Sports and Tourism, along with the following documents (including electronic documents); in such cases, the Minister of Culture, Sports and Tourism shall verify the corporation registration certificate through administrative data matching under Article 36 (1) of the Electronic Government Act (limited to corporations): <Amended on Jan. 5, 2021>

1. A document issued by the government of the relevant country or an agency delegated or entrusted with the authority substantiating that the applicant does not fall under any subparagraph of Article 7 (1) of the Tourism Promotion Act and any subparagraph of Article 22 (1) of the same Act; or a written statement of such purport prepared by the applicant and notarized by a notary public, which is verified by the consulate of a diplomatic mission of the Republic of Korea stationed in the relevant country, as prescribed in the Act on Notarial Acts Done at Diplomatic Missions Abroad;

2. Documents substantiating that it meets the requirements for permission prescribed in Article 63 (1) of the Act and subparagraphs 1 and 3 of Article 46 of this Decree;

3. An investment plan (including the project entity, the location and size of the land for the project, the total period and implementation schedule of the project, analysis of the project feasibility, land-use plans by land use, the scale and layout plan of facilities, and a funding plan and an investment agreement clearly specifying investment amounts and the deadline for investment, and other matters recognized by the Minister of Culture, Sports and Tourism as necessary);

4. A plan for the operation of a casino;

5. Articles of incorporation (limited to a corporation).

(2) Where a person who has obtained permission to engage in casino business under Article 63 (1) of the Act intends to alter an investment plan referred to in paragraph (1) 3, he or she shall consult the Minister of Culture, Sports and Tourism.

Article 47-2(Request for Preliminary Examination) #

(1) Where the Minister of Culture, Sports and Tourism intends to conduct a preliminary examination for permission for casino business exclusive for foreigners under Article 63 (8) of the Act, he or she may determine and announce the following matters:

1. Area eligible for permission;

2. Number of entities to be granted permission;

3. Standards, detailed procedures and methods for preliminary examination;

4. Other matters necessary for the sound operation of casino business and the promotion of tourism business.

(2) A person who intends to request a preliminary examination under paragraph (1) shall submit the following documents to the Minister of Culture, Sports and Tourism:

1. A document evidencing that an amount of at least 10/100 out of 500 million U.S. dollars (referring to the amount of foreign investment indicated as at the time the foreign-capital invested company is registered under Article 21 (1) of the Foreign Investment Promotion Act) has been paid under Article 63 (1) 1 of the Act;

2. Documents referred to in each subparagraph of Article 47 (1) (excluding documents evidencing that the applicant meets the requirements for permission prescribed in subparagraphs 1 and 3 of Article 46, from among the documents referred to in Article 47 (1) 2);

3. Any of the following evidentiary documents:

(a) A document evidencing the requirement for permission prescribed in subparagraph 1 of Article 46 is met;

(b) A document evidencing that an amount of at least 40/100 out of 500 million U.S. dollars has been deposited under Article 63 (1) 1 of the Act, as prescribed by an announcement made by the Minister of Culture, Sports and Tourism under paragraph (1);

(c) A document evidencing that the applicant has been recognized to be capable of making investment as prescribed by an announcement made by the Minister of Culture, Sports and Tourism under paragraph (1), such as a letter of commitment on loan or a letter of commitment on investment issued by a financial institution, etc.

(3) Upon receipt of requests to conduct preliminary examination under paragraph (2), the Minister of Culture, Sports and Tourism shall examine them and notify the result thereof within 90 days from the closing date of the receipt thereof; provided, if necessary to verify relevant facts, etc., the period may be extended by up to 30 days.

(4) In giving notice on the passing of preliminary examination under paragraph (3), the Minister of Culture, Sports and Tourism may make notification by indicating the following matters:

1. The applicant shall meet the deadline for investment specified in the investment plan referred to in Article 47 (1) 3;

2. The applicant shall acquire at least 2/3 of private land out of the land for the project and secure the ownership or right to use State or public land within two years from the date the notice on the pass is received;

3. The applicant shall apply for permission for casino business after meeting the requirements prescribed in each subparagraph of Article 63 (1) of the Act within four years from the date the notice on the pass is received; provided, the period may be extended only once by up to one year, where the Minister of Culture, Sports and Tourism deems there are justifiable grounds, such as the existence of difficulty of executing the investment plan referred to in Article 47 (1) 3, submitted at the time of preliminary examination as specified in the investment plan for reasons not attributable to the applicant for permission for casino business;

4. If any content of the investment plan referred to in Article 47 (1) 3 submitted as at the time of preliminary examination is amended, it shall be within the limit classified as below; provided, no alteration shall be made to the project entity and the location of land for the project:

(a) The reduction of the area of land for the project or the area for installation of facilities or the alteration of the area subject to land utilization plan by land use shall not exceed 10/100;

(b) No extension of the total period of project and the reduction of total project cost shall exceed 10/100;

5. The standards, procedures and methods for preliminary examination announced by the Minister of Culture, Sports and Tourism under paragraph (1) shall be satisfied;

6. Other matters recognized by the Minister of Culture, Sports and Tourism as necessary to verify the compliance with the investment plan, securement of land and facilities, transparent management of the investment, and the performance of the matters agreed on in the course of examination.

(5) Where a person in receipt of a notice on the passing of preliminary examination fails to fulfill the matters indicated pursuant to each subparagraph of paragraph (4), he or she shall undergo a preliminary re-examination.

[This Article Added on Feb. 11, 2016]

Article 48(Place and Timing for Commencement of Casino Business) #

(1) The place for casino business under Article 63 (5) of the Act shall be located in the land for tourism and leisure in the Saemangeum Project Area where foreign investments (referring to foreign investments defined in Article 2 (1) 4 of the Foreign Investment Promotion Act) are made; and positioned at a hotel business referred to in Article 2 (1) 4 of the Enforcement Decree of the Tourism Promotion Act (limited to facilities rated five-star) or a subsidiary facility of an international conference facility business referred to in subparagraph 4 (a) of the same paragraph in which the applicant for permission for the casino business has invested. <Amended on Feb. 11, 2016>

(2) A person who intends to commence casino business shall submit a report on business commencement prescribed by Ministerial Decree of the Land, Infrastructure and Transport (including reports in electronic form) to the Minister of Culture, Sports and Tourism pursuant to Article 63 (3) of the Act, along with the following documents (including electronic documents):

1. A detailed statement on facilities and equipment installed pursuant to Article 23 (1) of the Tourism Promotion Act;

2. A document evidencing that at least 300 million U.S. dollars is invested in tourism business as specified in the investment plan referred to in Article 47 (1) 3.

(3) A person who has obtained permission for casino business shall submit, to the Minister of Culture, Sports and Tourism, a document evidencing that he or she has invested a total of at least 500 million U.S. dollars as specified in the investment plan referred to in Article 47 (1) 3, within 30 days from the second anniversary of the commencement of the business.

(4) Documents evidencing the investment under paragraphs (2) 2 and (3) shall be prescribed by Ministerial Decree of the Land, Infrastructure and Transportation.

(5) "Matters prescribed by Presidential Decree" in the proviso to Article 63 (9) of the Act means the matters regarding the restrictions on the permit referred to in Article 21 (2) of the Tourism Promotion Act. <Added on Feb. 11, 2016>

Article 52(Building Committee to Be Established under the Saemangeum Development and Investment Agency) #

(1) The subject-matter for inspection and deliberation by the Central Building Committee and the local building committee referred to in Articles 5 (1) and 5-5 (1) of the Enforcement Decree of the Building Act shall be the subject-matter for inspection and deliberation on the building committee to be established under the jurisdiction of Saemangeum Development and Investment Agency under Article 71 (3) of the Act.

(2) The building committee shall be comprised of not more than 70 members, including 1 chairperson and 1 vice chairperson. <Amended on Mar. 11, 2025>

(3) The chairperson of the building committee (hereinafter referred to as the "building committee chairperson") shall be appointed or commissioned by the Administrator of SDIA from among committee members. <Amended on Feb. 11, 2016>

(4) Members shall be appointed or commissioned by the Administrator of SDIA from among related public officials and persons who have extensive knowledge of and experience in construction, urban planning, landscape, or transportation. <Amended on Feb. 11, 2016; Mar. 11, 2025>

(5) The term of office of members who are not public officials shall be two years.

(6) The chairperson of the building committee shall convoke and preside over its meetings.

(7) The chairperson of the building committee shall select at least 30 persons to participate in the deliberation by not later than 10 days before the meeting is held, and shall notify each member of the agenda items to be presented to the meeting by not later than 7 days before the meeting is held; provided, where matter requiring confidentiality or unavoidable reason exists, he or she may not notify them in advance. <Added on Mar. 11, 2025>

(8) A majority of the members of the building committee (referring to the chairperson of the building committee and the members confirmed by the chairperson to participate in a meeting in accordance with the main clause of paragraph (7)) shall constitute a quorum, and any decision thereof shall require the concurring vote of a majority of those present. <Amended on Mar. 11, 2025>

(9) Where deemed necessary to perform his or her duties, the building committee chairperson may have related experts attend and speak at a meeting or request related institutions and organizations to submit materials. <Amended on Mar. 11, 2025>

(10) Articles 27-2 and 27-3 shall apply mutatis mutandis to the exclusion of, challenge to, and recusal of building committee members and dismissal of commissioned member. <Added on Feb. 11, 2016; Mar. 11, 2025>

ENFORCEMENT DECREE OF THE SPECIAL ACT ON PROMOTION AND SUPPORT FOR SAEMANGEUM PROJECT

Article 1(Purpose) #

Article 2(Scope of Saemangeum Project Area) #

Article 3 #

Article 4(Land Use) #

Article 5(Formulation of Master Plans) #

Article 6(Inter-Regional Infrastructure) #

Article 7(Designation of Project Implementers) #

Article 8(Designation of Joint Implementers) #

Article 9(Implementation of Development Projects by Proxy) #

Article 9-2(Public Notice of Revocation of Designation of Project Implementer) #

Article 10(Formulation of Development Plans) #

Article 11(Application for Approval of Implementation Plans) #

Article 11-2(Minimum Number of Members Required to Form the Integrated Deliberation Committee) #

Article 11-3(Exclusion of, Challenge to, or recusal of, Members) #

Article 11-4(Dismissal of Committee Members) #

Article 11-5(Criteria and Conditions for Designating Saemangeum Investment Promotion Zones) #

Article 11-6(Designation of Saemangeum Investment Promotion Zones) #

Article 11-7(Change of Designation of Investment Promotion Zones) #

Article 11-8(Management of Investment Promotion Zones) #

Article 11-9(Cancellation of Designation of Investment Promotion Zones) #

Article 11-10(Designation of General Project Manager) #

Article 12(Restrictions on Acts) #

Article 12-2(Sale Price of Remaining Reclaimed Land) #

Article 12-3(Consultative Council for Granting Legal Fiction of Authorization and Permission) #

Article 13(Infrastructure Subject to Preferential Subsidization) #

Article 14(Completion Inspections) #

Article 15(Public Announcement of Construction Completion) #

Article 16(Application for Approval of Plans for Supply of Created Land) #

Article 17(Methods for Supplying Created Land) #

Article 18(Application for Approval of Supply Plans of Undeveloped Land) #

Article 19(Supply of Land Created by Developing Undeveloped Land) #

Article 20(Rescindment of Contract to Supply Undeveloped Land) #

Article 21(Advance Payment) #

Article 22(Transfer of Jurisdiction of Public Facilities) #

Article 23(Payment of Sale Prices of State or Public Property) #

Article 24-2(Application Mutatis Mutandis to Projects outside Saemangeum Project Area) #

Article 25(Annual Investment Plans to Reduce Water Quality Pollution) #

Article 26(Designation and Management of Special Management Areas) #

Article 27(Organization of the Saemangeum Committee) #

Article 27-2(Exclusion of, Challenge to, or Recusal of, Members) #

Article 27-3(Dismissal or Removal of Members) #

Article 28(Minutes) #

Article 29(Subcommittees) #

Article 30(Allowances) #

Article 30-2(Saemangeum Project Support Bureau) #

Article 31(Duties of Administrator of SDIA) #

Article 31-2(Capital Contribution) #

Article 31-3(Methods for Redemption of Property Invested in Kind) #

Article 31-4(Mandatory Provisions of Articles of Incorporation) #

Article 31-5(Scope of sites for public facilities and buildings for public support) #

Article 31-6(Real Property Financing) #

Article 31-7(Methods of Issuing Bonds and Debentures) #

Article 31-8(Conditions of Issuance of Bonds and Debentures) #

Article 31-9(Form of Bonds and Debentures) #

Article 31-10(Subscription to Bonds and Debentures) #

Article 31-11(Total Value of Issuance of Bonds and Debentures) #

Article 31-12(Paying Purchase Price for Bonds and Debentures) #

Article 31-13(Time to Issue Bonds and Debentures) #

Article 31-14(Methods of Firm Commitment Underwriting) #

Article 31-15(Issuance of Bonds and Debentures by Sale) #

Article 31-16(Matters to Be Stated on the Face of Bonds and Debentures) #

Article 31-17(Keeping of Bond and Debenture Register) #

Article 31-18(Defective Coupons) #

Article 31-19(Transfer of Bonds and Debentures) #

Article 31-20(Transfer of Earned Surplus Reserve) #

Article 31-21(Procedures for Payment of Land Price in Installments) #

Article 31-22(Exemption from Fees for Occupancy or Use of Public Waters) #

Article 31-23(Scope of Partner Companies of Foreign-Capital Invested Companies) #

Article 32(Lease of Land and Buildings) #

Article 32-2(Support for Private Investment Promotion Projects) #

Article 33(Special Cases concerning Period for Public Notice of Designation of Areas and Districts) #

Article 34(Preferential Treatment to Local Enterprises) #

Article 35(Scope of Creation of Farmland) #

Article 36(Protection and Management of Agricultural Infrastructure) #

Article 37(Revenues) #

Article 38(Entrustment of Operation and Management of Finances for Maintenance and Management) #

Article 39(Prior Consultation about Profit-Making Business) #

Article 40 #

Article 41(Reduction of or Exemption from Use Fees or Rents for State or Public Property) #