ENFORCEMENT DECREE OF THE ACT ON THE OPERATION OF LOCAL GOVERNMENT-INVESTED OR -FUNDED INSTITUTIONS

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Decree is to provided for matters delegated by the Act on the Operation of Local Government-Invested or -Funded Institutions and matters necessary for the enforcement thereof.

Article 2(Standards for Calculation of Ownership Stake in Local Government-Invested Institutions) #

"The methodology and calculation criteria provided for by Presidential Decree" referred to in the latter part of Article 2 (1) of the Act on the Operation of Local Government-Invested or -Funded Institutions (hereinafter referred to as "Act") shall mean the proportion expressed in percentage, of total number of stocks held by each local government among the total number of stocks issued by a local government-invested institution.

CHAPTER II INVESTMENTS OR FUNDS BY LOCAL GOVERNMENTS, DESIG

Article 3(Designation as Local Government-Invested or -Funded Institutions, Public Notification, etc.) #

(1) The head of a local government [referring to the Special Metropolitan City Mayor, Metropolitan City Mayor, Special Self-Governing City Mayor, Do Governor or Special Self-Governing Province Governor (hereinafter referred to as "Mayor/Do Governor") or the head of a Si/Gun/Gu (referring to the head of an autonomous Gu; hereinafter the same shall apply) that has made investments or funds pursuant to Article 4 of the Act] shall notify the Minister of the Interior and Safety of an institution, which is to be designated as a local government-invested and -funded institution, the designation of which is to be cancelled or which is to be designated as such after modifying the designation under Article 5 of the Act, by December 31 of each year. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>

(2) The head of the local government shall notify the Minister of the Interior ad Safety within 30 days where the legal personality or name, etc. of a local government-invested or -funded institution designated and publicly notified pursuant to Article 5 of the Act (hereinafter referred to as "local government-invested and -funded institution") is revised or a reason falling under any of the subparagraphs of the same Article arises during a fiscal year. <Amended by Presidential Decree No. 25751, Nov. 19, 2014; Presidential Decree No. 28211, Jul. 26, 2017>

ENFORCEMENT DECREE OF THE ACT ON THE OPERATION OF LOCAL GOVERNMENT-INVESTED OR -FUNDED INSTITUTIONS

Article 1(Purpose) #

Article 2(Standards for Calculation of Ownership Stake in Local Government-Invested Institutions) #

Article 3(Designation as Local Government-Invested or -Funded Institutions, Public Notification, etc.) #

Article 4(Composition and Operation of the Operational Deliberation Committees of Local Government-Invested or -Funded Institutions) #

Article 5(Dismissal, etc. of Members Deliberation Committees) #

Article 6(Disqualification of, Challenge to, or Refrainment by Members of Deliberative Committees) #

Article 7(Examination of Validity of Establishment and Operation of Local Government-Invested or -Funded Institutions and Making Public Results of Examination) #

Article 8(Consultation upon Establishment of Local Government-Invested or -Funded Institutions) #

Article 8-2(Institutions Specialized in Examination of Validity of Establishment of Local Government-Invested or -Funded Institutions) #

Article 9(Matters to Be Stated in the Articles of Incorporation) #

Article 9-2(Restrictions on Dual Office Holding by Executive Officers and Employees) #

Article 10(Education and Training of Executives and Employees) #

Article 10-2(Request for Investigation against Persons Committing Misconduct) #

Article 10-3(Measures against Persons Involved in Hiring Misconduct) #

Article 10-4(Personnel Audit) #

Article 11(Performance of Accounting Duties) #

Article 12(Performance of Contractual Duties) #

Article 12-2(Details of Written Integrity Pledge) #

Article 13(Delegation of Contractual Duties) #

Article 14(Preparation, etc. of Budgets) #

Article 14-2(Settlement of Accounts) #

Article 15(Management of Investments, Funds, etc.) #

Article 16(Bearing Expenses for Projects Performed as Proxy) #

Article 17(Issuance, etc. of Bonds by Local Government-Invested Institutions) #

Article 18(Guidance, Supervision, etc.) #

Article 19(Institutions Subject to Evaluation of Management Performance) #

Article 20(Evaluation of Business Performance) #

Article 21(Details and Period of Management Disclosure) #

Article 22(Integrated Disclosure) #

Article 23(Personally Identifiable Information Management) #