Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the Korea Land and Geospatial Informatix Corporation Act and matters necessary for the enforcement thereof.
Article 2(Matters to be registered for incorporation) #
(1) Matters to be registered for incorporation of the Korea Land and Geospatial Informatix Corporation (hereinafter referred to as the "Corporation") under Article 3 (2) of the Korea Land and Geospatial Informatix Corporation Act (hereinafter referred to as the "Act") shall be as follows:
1. Purpose;
2. Name;
3. Location of the main office;
4. Name and address of executive officers;
5. Matters regarding assets;
6. Methods of public announcement.
(2) Where the Corporation establishes its regional headquarters, branches, offices, research institutes, training institutes, and other affiliated institutions (hereinafter referred to as "regional headquarters, etc.") in accordance with Article 4 (2) of the Act, it shall register the name and the location of the newly established regional headquarters, etc. and the date of its establishment at the location of its main office within 3 weeks after such incorporation.
(3) Where the Corporation relocates its main office, it shall register the new location and the date of relocation at the former location or new location within 3 weeks after the relocation, and where its regional headquarters are relocated, it shall register the new location and the date of relocation at the location of its main office within 3 weeks after the relocation.
(4) Where any matter registered under the subparagraphs of paragraph (1) or (2) is modified (excluding cases falling under the registration of relocation under Article 3), the Corporation shall register such modification at the location of its main office within 3 weeks after such modification.
(5) Except as provided in paragraphs (1) through (4), the provisions of the Civil Act governing the registration of an incorporated foundation shall apply mutatis mutandis to the registration of the Corporation.
Article 3(Projects) #
"Projects prescribed by Presidential Decree" in subparagraph 1 of Article 6, with the exception of its items, of the Act means the following:
1. Support for the formulation of plans for the construction and utilization of the national spatial data system under the Framework Act on National Spatial Data Infrastructure (hereinafter referred to as the "national spatial data system");
2. Support for the construction and utilization of the national spatial data system.
Article 4(Contributions by persons other than Government) #
Where any person other than the Government (including public enterprises under Article 5 (4) 1 of the Act on the Management of Public Institutions) intends to grant contributions under Article 9 (1) 1 of the Act to the Corporation, matters regarding such contribution shall be determined by the Minister of Land, Infrastructure and Transport after consultation with a person who intends to make such contribution.
Article 5(Management and use of contributions) #
(1) Where the Corporation receives contributions under Article 9 (1) 1 of the Act, it shall establish and manage a separate account.
(2) The Corporation shall use contributions under Article 9 (1) 1 of the Act for the purposes of contribution.
Article 6(Investment) #
Where the Corporation intends to invest in or contribute to a project under Article 6 of the Act in accordance with Article 11 of the Act, it shall submit a plan for investment or contribution including the following matters to the Minister of Land, Infrastructure and Transport:
1. Necessity for investment or contribution;
2. Type and value of property to be invested or contributed;
3. Summary of projects eligible for investment or contribution;
4. Other matters necessary for investment or contribution.
Article 7(Form of bonds) #
Bonds issued by the Corporation in accordance with Article 14 (1) of the Act (hereinafter referred to as "bonds") shall be in bearer form; provided, if requested by a subscriber or holder, it may be in inscribed form.
Article 8(Methods of issuing bonds) #
(1) Bonds shall be issued by public offering, firm commitment underwriting, or sale.
(2) Where the Corporation issues bonds by firm commitment underwriting in accordance with paragraph (1), it shall do so by entering into a contract with a person who intends to underwrite firm commitment.
(3) Where bonds are issued by sale in accordance with paragraph (1), the matters specified in Article 9 (2) 1 through 7 and the sale period shall be publicly announced in advance.
Article 9(Public offering of bonds) #
(1) Any person who intends to subscribe for public offering of bonds shall enter the following matters in 2 copies of bond subscription forms, and sign and seal thereon:
1. Type, number, and underwriting value of bonds to be underwritten;
2. Address of the person who intends to subscribe for public offering of bonds;
3. Underwriting value (applicable only where bonds are issued at a fixed minimum value).
(2) The president of the Corporation shall prepare a bond subscription form under paragraph (1), including the following matters; provided, if there is a company entrusted with the public offering of bonds, it may prepare a bond subscription form for the Corporation under its own name:
1. Name of the Corporation;
2. Total value of bonds issued (referring to the total value of bonds issued by the public offering; hereinafter the same shall apply);
3. Value for each type of bonds;
4. Interest rate of bonds;
5. Methods and timing of repaying principal;
6. Methods and timing of paying interest;
7. Bond issuance value or minimum value;
8. Total value of outstanding bonds, if any, out of already issued bonds;
9. Where any company is entrusted with the public offering of bonds, the trade name and address of such company, if any;
10. Where it is agreed to pay the underwriting value of bonds in several installments, the value of and timing for installment payments.
(3) When issuing bonds, the Corporation may issue bonds even if the total value actually subscribed is less than the total value of bonds to be issued stated in the bond subscription form. In such cases, notwithstanding paragraph (2) 2, the total value of bonds subscribed shall be the total value of bonds issued.
(4) Where the Corporation intends to issue bonds in accordance with paragraph (3), it shall indicate such intention on the bond subscription form.
Article 10(Payment of underwriting value after public offering of bonds) #
(1) The Corporation shall, without delay, have subscribers pay the total value of bonds acquired (where it is determined to pay the value of bonds acquired in installments, the value to be paid in the first installment) after the subscription for the public offering of bonds.
(2) The company entrusted with the public offering for bonds may conduct the activities under paragraph (1) for the Corporation under its own name.
(3) The Corporation shall not issue bonds until the total value of bonds issued is fully paid.
Article 11(Entries in bond certificates) #
The following matters shall be stated on bonds and the president of the Corporation shall sign and seal thereon:
1. Matters referred to in Article 9 (2) 1 through 6 (excluding the matters referred to in subparagraph 2 of that paragraph, if bonds are issued by sale);
2. Serial number of the bond;
3. Date of issuance of the bond.
Article 12(Bond register) #
(1) The Corporation shall keep a bond register containing the following information at its main office:
1. Number and serial number of each type of bonds;
2. Issuance date of bonds;
3. Matters referred to in Article 9 (2) 2 through 6 and 9;
4. Names and addresses of the owners of bonds (applicable only to inscribed bonds);
5. Date of acquisition of bonds (applicable only to inscribed bonds).
(2) The owner or holder of bonds may request the Corporation to authorize the inspection of the bond register at any time during the business hours of the Corporation.
Article 13(Notice to holders of bonds) #
(1) Where the Corporation gives notice or peremptory notice to subscribers or right holders before issuing bonds, it shall give notice or peremptory notice based on the addresses entered in bond subscription forms; provided, if the Corporation is separately notified of the address of the subscriber or right holder, it shall be based on that address.
(2) The Corporation shall give notice or peremptory notice to holders of bearer bonds by public announcement, as prescribed by its articles of incorporation; provided, if the Corporation can know the address of the holder of the bond, additional notice or peremptory notice may be made based on that address.
(3) The Corporation shall give notice or peremptory notice to holders of inscribed bonds based on the address entered in the bond register; provided, if the Corporation is separately notified of the owner's address, notice or peremptory shall be made based on that address.
Article 14(Criteria for imposing administrative fines) #
The criteria for imposing administrative fines under Article 22 (1) of the Act shall be as specified in the Appendix.