FRAMEWORK ACT ON SUPPLY CHAIN STABILIZATION SUPPORT FOR ECONOMIC SECURITY

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to prevent supply chain risks that occur or are likely to occur due to various domestic and foreign factors and to ensure an effective response in the event of disturbances in supply chains, thereby contributing to the security of the State, the maintenance of safety related to economic activities of the State and citizens, and the development of the national economy.

Article 2(Definitions) #

The terms used in this Act shall be defined as follows:

1. The term "economic security" means a condition in which items, services, technology, etc. essential for the overall economic activities of the State and its citizens, such as domestic production, consumption, and distribution, are smoothly introduced and prevented from being inappropriately leaked overseas, regardless of changes in economic, trade, political, or diplomatic circumstances or natural disasters, etc. that have occurred or are likely to occur at home and abroad, thereby maintaining national security and causing no obstacles to the economic activities of the State and its citizens;

2. The term "supply chain" means all the systems and processes of acquiring commodities or raw materials (including resources; hereinafter the same shall apply) for the economic activities of the State and its citizens in Korea and abroad, converting them into intermediate or final products, and distributing them to consumers;

3. The term "supply chain stabilization" means all activities performed to secure the flexible restoration capacity of a supply chain, including the prevention of, preparation for, and response to threats that hinder the stable maintenance of supply chains;

4. The term "economic security item" means commodities designated pursuant to Article 13 as indispensable or essential for the stable operation of the national economy, which are highly dependent on imports from a specific country or region abroad, or raw materials, parts, facilities, equipment, devices, or software (hereinafter referred to as "raw materials, etc.") necessary for the production thereof, which are essential for the lives of citizens;

5. The term "economic security service" means any service or infrastructure designated pursuant to Article 13, which is likely to impede the smooth introduction, production, or distribution of economic security items under subparagraph 4, if there is or is likely to be an obstacle to the stable provision and operation thereof;

FRAMEWORK ACT ON SUPPLY CHAIN STABILIZATION SUPPORT FOR ECONOMIC SECURITY

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Basic directions) #

Article 4(Responsibilities of State and local governments) #

Article 5(Responsibilities of public institutions and business entities) #

Article 6(Relationship to other statutes) #

Article 7(Formulation and implementation of master plan) #

Article 8(Formulation and implementation of implementation plans) #

Article 9(Relationship to plans under other statutes or regulations) #

Article 10(Supply Chain Stabilization Committee for economic security) #

Article 11(Survey on current status of supply chains) #

Article 12(Preparation of statistics related to supply chains) #

Article 13(Designation, change, and revocation of economic security items, etc.) #

Article 14(International cooperation) #

Article 15(Operation of early warning systems) #

Article 16(Cooperation between countries in relation to operation results of early warning systems) #

Article 17(Provision of information on customs duties) #

Article 18(Duty of the State to protect information) #

Article 19(Selection of leading business entities in supply chain stabilization) #

Article 20(Revocation of selection of leading business entities in supply chain stabilization) #

Article 21(Composition of consultative body of leading business entities in supply chain stabilization) #

Article 22(Support for diversification of supplying countries) #

Article 23(Support for domestic and overseas production base) #

Article 24(Support for technological development) #

Article 25(Support for stockpiling and managing economic security items) #

Article 26(Support for stable provision of economic security services) #

Article 27(Special cases concerning support for economic security items, etc.) #

Article 28(Preparation and operation of crisis response manual) #

Article 29(Designation of crisis items and revocation thereof) #

Article 30(Emergency supply and demand adjustment measures) #

Article 31(Request for submission of relevant data) #

Article 32(Crisis countermeasure headquarters) #

Article 33(Prohibition of cornering and hoarding) #

Article 34(Support for customs duties) #

Article 35(Emergency procurement) #

Article 36(Support for importers of crisis items) #

Article 37(Subsidization of losses) #

Article 38(Establishment of supply chain stabilization fund) #

Article 39(Financial resources of the fund) #

Article 40(Management, operation, and accounting of fund) #

Article 41(Persons eligible for subsidization from fund and purposes of use of fund) #

Article 42(Procedures and requirements for financial assistance) #

Article 43(Establishment of deliberative committee on operation of supply chain stabilization fund) #

Article 44(Delegation and entrustment of authority and business affairs) #

Article 45(Special cases concerning measures under other statutes or regulations) #

Article 46(Non-disclosure of data) #

Article 47(Duty of confidentiality) #

Article 48(Legal fiction as public officials for purposes of applying penalty provisions) #