SPECIAL ACT ON RESPONSE TO LOCAL INDUSTRIAL CRISIS AND RECOVERY OF LOCAL ECONOMY

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to strengthen the competitiveness of a local industry and to contribute to the rapid recovery of the local economy by promptly supporting the relevant area and industry in response to the deterioration of the local industry and economic conditions.

Article 2(Definitions) #

The terms used in this Act are defined as follows:

1. The term "main industry" means an industry that accounts for a high proportion of the local economy, which has a significant ripple effect on the local economy and the related industry;

2. The term "area for preemptively responding to industrial crisis" means an area designated under Article 8, where the local main industry is expected to significantly deteriorate due to unexpected internal and external shocks, or the bankruptcy, restructuring, etc. of enterprises therein;

3. The term "special area for responding to industrial crisis" means an area designated under Article 10 where local economic conditions have significantly deteriorated due to a downturn in the main industry of the area.

Article 3(Responsibilities of the state and local government) #

Where local economic conditions deteriorate due to a downturn in the local main industry, the State and a local government shall formulate a comprehensive plan and detailed policy and improve the relevant system to ensure the prompt recovery of the relevant local economy and improve the sustainable competitiveness of the local industry.

Article 4(Relationship to other statutes) #

Preventive measures against industrial crisis, and special cases concerning support and regulations for areas for responding to industrial crisis and special areas for responding to industrial crisis under this Act shall prevail over special cases concerning support and regulations under other statutes; provided, where more lenient regulations are provided in other statutes than special cases concerning regulations under this Act, such statutes shall apply.

SPECIAL ACT ON RESPONSE TO LOCAL INDUSTRIAL CRISIS AND RECOVERY OF LOCAL ECONOMY

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Responsibilities of the state and local government) #

Article 4(Relationship to other statutes) #

Article 5(Deliberative Committee on Response to Industrial Crisis) #

Article 6(Fact-finding survey on local industry and establishment and operation of information system) #

Article 7(Preventive measures against industrial crisis) #

Article 8(Designation of area for preemptively responding to industrial crisis) #

Article 9(Application for designation of special area for responding to industrial crisis) #

Article 10(Designation of special area for responding to industrial crisis) #

Article 11(Modification of plan on areas in industrial crisis) #

Article 12(Cancellation of designation of special area for responding to industrial crisis) #

Article 13(Emergency support) #

Article 14(Prompt proceeding of procedures) #

Article 15(Financial support) #

Article 16(Preferential subsidization for infrastructure) #

Article 17(Support for development of human resources) #

Article 18(Support for research and development activities) #

Article 19(Consulting services for local industry) #

Article 20(Connection with and preferential support for support projects) #

Article 21(Reduction of or exemption from usage fees or rents for state and public property) #

Article 22(Reduction of and exemption from taxes and charges) #

Article 23(Special cases concerning the Industrial Cluster Development and Factory Establishment Act) #

Article 24(Increased subsidies from national treasury) #

Article 25(Evaluation of operation of special areas for responding to industrial crisis) #

Article 26(Sharing of details of support for special areas for responding to industrial crisis) #

Article 27(Delegation and entrustment of authority or affairs) #

Article 28(Penalty provisions) #

Article 29(Administrative fine) #