Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the Korea Employment and Labor Educational Institute Act and matters necessary for the enforcement thereof.
Article 2(Payment of contributions) #
(1) If the Korea Employment and Labor Educational Institute (herei nafter referred to as the “Educational Institute”) intends to receive government contributions under Article 14 (1) of the Korea Employment and Labor Educational Institute Act (hereinafter referred to as the “Act”), it shall submit to the Minister of Employment and Labor a budget request for contributions for the following year by March 31 of each year.
(2) If the Educational Institute intends to apply for payment of the contributions reflected in the budget for the relevant year, it shall, no later than 15 days before the beginning of each quarter, submit to the Minister of Employment and Labor an application for payment of contributions determined by the Minister of Employment and Labor, accompanied by a quarterly business plan and a budget execution plan.
(3) If the Minister of Employment and Labor deems the quarterly business plan and the budget execution plan appropriate with respect to an application for payment of contributions under paragraph (2), the Minister shall pay the relevant contributions to the Educational Institute.
Article 3(Submission of budget plans and budget bills) #
(1) If the Educational Institute seeks to obtain approval of the Minister of Employment and Labor for its business plan and budget bill under the former part of Article 17 (1) of the Act, it shall submit to the Minister the business plan and budget bill for the following year by October 31 of each year, along with the following documents:
1. An estimated statement of financial position;
2. An estimated income and loss statement;
3. A funding plan.
(2) If the Educational Institute intends to obtain approval for modification under the latter part of Article 17 (1) of the Act with respect to its business plan and budget bill approved by the Minister of Employment and Labor, it shall submit to the Minister the business plan and budget bill reflecting the modifications, along with the documents under each subparagraph of paragraph (1).
Article 4(Submission of statements of settlement of accounts) #
When the Educational Institute submits a statement of settlement of accounts of revenues and expenditures for each business year under Article 17 (2) of the Act, it shall be accompanied by the following documents:
1. A table comparing the business plan for the relevant year with its execution records;
2. A statement of financial position and an income and loss statement for the relevant year;
3. A written opinion of a certified public accountant or an accounting corporation under Article 7 or 23 of the Certified Public Accountant Act;
4. A written opinion of the Educational Institute’s auditor;
5. Other documents substantiating the settlement of accounts and the business performance.
Article 5(Criteria for imposition of administrative fines) #
The criteria for the imposition of administrative fines under Article 25 (1) of the Act shall be as specified in the Appendix.