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Enforcement decree of the credit guarantee fund act

제22편 통화․국채․금융 신용보증기금법 시행령

ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

Presidential Decree No. 7570, Mar. 4, 1975

Amended by Presidential Decree No. 7833, Sep. 29, 1975

Presidential Decree No. 8604, Jun. 24, 1977

Presidential Decree No. 9451, May 7, 1979

Presidential Decree No. 9735, Jan. 23, 1980

Presidential Decree No. 10653, Dec. 29, 1981

Presidential Decree No. 11523, Oct. 6, 1984

Presidential Decree No. 12416, Mar. 18, 1988

Presidential Decree No. 12820, Oct. 17, 1989

Presidential Decree No. 14438, Dec. 23, 1994

Presidential Decree No. 14828, Dec. 14, 1995

Presidential Decree No. 15556, Dec. 29, 1997

Presidential Decree No. 15569, Dec. 31, 1997

Presidential Decree No. 15627, Feb. 12, 1998

Presidential Decree No. 16709, Feb. 14, 2000

Presidential Decree No. 16736, Feb. 28, 2000

Presidential Decree No. 17791, Dec. 5, 2002

Presidential Decree No. 20261, Sep. 10, 2007

Presidential Decree No. 20653, Feb. 29, 2008

Presidential Decree No. 21482, May 6, 2009

Article 1 (Purpose)

The purpose of this Decree is to prescribe the matters necessary for the enforcement of the Credit Guarantee Fund Act. <AmendedbyPresidentialDecree

No. 21482, May 6, 2009>

Article 2 Deleted. <by Presidential Decree No. 14828, Dec. 14, 1995>

Article 3 (Pecuniary Obligation)

The term pecuniary obligation as prescribed by Presidential Decree in Article 2 (2) 4 of the Credit Guarantee Fund Act (hereinafter referred to as the Act ) means the obligations falling under any of the following subparagraphs: <AmendedbyPresidentialDecreeNo.7833,Sep.29,1975;Presidential

Decree No. 8604, Jun. 24, 1977; Presidential Decree No. 9451, May 7, 1979; Presidential DecreeNo.10653,Dec.29,1981;PresidentialDecreeNo.11523,Oct.6,1984;Presidential DecreeNo.12820,Oct.17,1989;PresidentialDecreeNo.14438,Dec.23,1994;Presidential DecreeNo.14828,Dec.14,1995;PresidentialDecreeNo.15569,Dec.31,1997;Presidential

DecreeNo.20261,Sep.10,2007;PresidentialDecreeNo.20653,Feb.29,2008;Presidential

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

Decree No. 21482, May 6, 2009>

1. National taxes and local taxes which shall be borne by enterprises;
2. Obligations of enterprises, as prescribed by the Financial Services
Commission through a resolution of the Operating Committee, due to persons other than financial institutions among those who are engaged
in the business of financing to enterprises;
3. Obligations arising from bills issued (including accepted and en- dorsed ; hereinafter the same shall apply) by enterprises in relation
to commercial transactions, and the liabilities arising from bills en- dorsed by enterprises which are obtained in relation to commercial
transactions in order to obtain funds;
3-2. Obligations for payment of price, by contracts related to commer- cial transactions of small-and-medium enterprises, as prescribed by
the operating manuals;
3-3. Obligations due to a person who has accepted bills issued by small- and-medium enterprises on the security of the export letters of credit
(including local letters of credit);
4. Obligations of enterprises due to facilities leasing businessmen by leasing of facilities, machinery, equipment, etc. from the facilities
leasing businessmen pursuant to the Specialized Credit Financial
Business Act;
5. Obligations of small-and-medium enterprises due to the Small and
Medium Business Corporation by leasing facilities, machinery, equipment, etc. from the Small and Medium Business Corporation pursuant to the Promotion of Small and Medium Enterprises and
Encouragement of Purchase of their Products Act;
6. Payment obligations of various bail money to be borne by enterprises in connection with the signing of contracts (including bids) with the
Government, local governments, public agencies pursuant to Article
4 of the Act on the Management of Public Institutions or other persons as prescribed by the Financial Services Commission, for construction
works, supply of goods and provision of services;
7. Others prescribed by the Financial Services Commission as pecuniary obligations of an enterprise.

Article 3-2 Deleted. <by Presidential Decree No. 14828, Dec. 14, 1995>

Article 4 (Preferential Guarantee)

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제22편 통화․국채․금융 신용보증기금법 시행령

The term funds which correspond to the purpose as prescribed by
Presidential Decree in Article 3 (1) of the Act means the funds falling under the following subparagraphs:
1. Financing funds for export support;
2. Funds specially required for the national economy, such as contributing to the improvement of the productivity of enterprises.

[This Article Wholly Amended by Presidential Decree No. 14828, Dec. 14, 1995]

Article 5 (Guarantees for Small-and-Medium Enterprises)

In preparing or modifying the operational plan of the Credit Guarantee Fund (hereinafter referred to as the Fund ) as provided for in Article 26 of the Act, not less than 60 percent of the total amount of guarantees shall be guarantees for small-and-medium enterprises. <AmendedbyPresidential

Decree No. 11523, Oct. 6, 1984>

Article 6 (Registration of Incorporation)

(1) The commissioners for the establishment of the Fund as provided for in Article 3 of the Addenda of the Act, shall prepare the articles of incor- poration and register the incorporation of the Fund at the seat of its head office within two weeks after obtaining the authorization of the Financial Services Commission. <AmendedbyPresidentialDecreeNo.14438,Dec.

23,1994;PresidentialDecreeNo.14828,Dec.14,1995;PresidentialDecreeNo.20653,Feb.

29, 2008>

(2) Matters falling under any of the following subparagraphs shall be
written in the registration as provided in paragraph (1): <Amended by

Presidential Decree No. 14828, Dec. 14, 1995>

1. Purpose;
2. Title;
3. Head office;
4. Branch and sub-branch;
5. Fundamental property at the time of incorporation;
6. Name, resident registration number and address of the president;
7. Names and resident registration numbers of the managing director, directors and auditor;
8. Method of public notification.

Article 7 (Registration of New Branch or Sub-Branch)

(1) In a case where the Fund has established a branch or a sub-branch, the Fund shall make due registration in accordance with the descriptions falling under any of the following subparagraphs: <AmendedbyPresidential

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

Decree No. 14828, Dec. 14, 1995; Presidential Decree No. 21482, May 6, 2009>

1. Intent of the establishment of a branch or sub-branch at the seat of
the head office within two weeks from the date of the establishment;
2. The particulars provided in Article 6 (2) 1 through 3, 6 and 8 at the
seat of the newly established branch or sub-branch within three weeks
from the date of the establishment;
3. Deleted. <by Presidential Decree No. 14828, Dec. 14, 1995>
(2) In a case where a new branch or sub-branch has been established
within the jurisdictional area of a registry office which has jurisdiction over
the head office or any existing branch or sub-branch, only the matters
relating to the new branch or sub-branch shall be registered.

Article 8 (Registration of Movement)

(1) In a case where the Fund has moved its head office, it shall complete a registration of movement within two weeks thereafter.
(2) In a case where the Fund has moved its branch or its sub-branch, it shall register that effect at the old seat within three weeks after the movement and register the particulars as provided in Article 6 (2) 1 through
3, 6 and 8 at the new seat within four weeks after the movement: Pro- vided,That in cases of moving a branch or a sub-branch to a place under
the jurisdiction of the same registry office, the Fund shall register the movement within two weeks thereafter. <AmendedbyPresidential DecreeNo.

14828, Dec. 14, 1995>

Article 9 (Registration of Change)

In a case where the matters as provided in the subparagraphs of Article 6 (2) are changed, the changed matters shall be registered within two weeks at the seat of the head office. In this case, if the matters as provided in Article 6 (2) 1 through 3, 6 and 8 are changed, the changed matters shall also be registered, within three weeks, at the seat of the branch or sub-branch office.

[This Article Wholly Amended by Presidential Decree No. 14828, Dec. 14, 1995]

Article 10 (Registration of Appointment of Agent)

In a case where the president of the Fund has appointed an agent as provided in Article 22 of the Act, matters falling under the following subparagraphs shall be registered within two weeks thereafter at the seat of the head office or the branch or the sub-branch for which the agent has been appointed. The same shall apply to any change of registered mat- ters:

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제22편 통화․국채․금융 신용보증기금법 시행령

1. Name and domicile of the agent;
2. Head office, branch or sub-branch for which the agent has been
appointed;
3. Contents of restriction, in the case of restricting the authority of the
agent.

Article 11 (Calculation of Registration Period)

In a case where any of the matters to be registered as provided in Articles
6 through 10 requires the authorization or approval from the Financial
Services Commission, the registration period shall be calculated from
the date on which the letter of such authorization or approval arrives.

<AmendedbyPresidentialDecreeNo.14438,Dec.23,1994;PresidentialDecreeNo.14828, Dec. 14, 1995; Presidential Decree No. 20653, Feb. 29, 2008>

Article 12 (Registry Office)

(1) District courts, its branch or registry office which has jurisdiction over the areas in which the head office, branches and sub-branches of the Fund are located, shall be the competent registry office to a respective offices of the Fund, with regard to a registration to be made by the Fund. (2) Each registry office shall be furnished with a registry of the Credit Guarantee Fund.

Article 13 (Applicants for Registration and Documents to be Annexed to

Written Application)

The registration of incorporation as provided in Article 6 shall be made by the joint request of the commissioners for establishment and the regis- tration as provided in Articles 7 through 10 shall be made at the request of the president of the Fund, and the written application for registration shall be accompanied by the documents falling under any of the following subparagraphs:
1. In the case of the registration of incorporation as provided in Article 6, the articles of incorporation of the Fund, a copy of the authorization of such articles of incorporation and the documents certifying that the president of the Fund has been appointed as provided in Article 16 (1) of the Act;
2. In the case of the registration of a new branch or sub-branch as provided in Article 7, the documents certifying the establishment of the new branch or sub-branch;
3. In the case of the registration of movement as provided in Article
8, the documents certifying the relocation;

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

4. In the case of the registration of change as provided in Article 9, the
documents certifying the change;
5. In the case of the registration of an agent as provided in Article 10,
the documents certifying that the appointment of an agent has been
made in accordance with Article 22 of the Act and, in the case of
restricting the authority of an agent, the documents certifying the
restriction.

Article 14 (Provisions Applicable MutatisMutandisconcerning Registra- tion)

Unless any special provision exists in this Decree, the provisions of Articles
10 through 15, 17 through 29, and 114 through 128 of the Commercial
Registration Act shall apply mutatismutandisto registration of the Fund.
In such cases, the seat of branch under Articles 18 (3), 19 (3), 24 (3)
and 120 of the said Act shall be deemed to be the seat of branch or
seat of sub-branch . <Amended by Presidential Decree No. 14828, Dec. 14, 1995;

Presidential Decree No. 21482, May 6, 2009>

Article 15 (Public Notification of Registration of Incorporation)

Upon completing the registration of incorporation as provided in Article 6, the Fund shall promptly give notice thereof.

Article 16 (Duties of Chairman of Committee)

(1) The meeting of the Operating Committee (hereinafter referred to as Committee ) shall be convened in accordance with the provisions of the articles of incorporation, and chaired by the chairman of the Committee. (2) In the case where the chairman is unable to perform his/her duties, the managing director of the Fund and other commissioners of the Committee as designated by the chairman shall, in order, act as chairman on his/her behalf.

Article 17 (Method of Resolution)

(1) A meeting of the Committee shall make a decision with attendance of a majority of the total commissioners and with a concurrent vote of a majority of those present. <Amended by Presidential Decree No. 21482, May 6, 2009>
(2) The managing director, directors and auditor of the Fund may attend the meetings of the Committee and state their opinions.

Article 18 (Minutes of Committee Meeting)

The Committee shall prepare the minutes of its meetings, which shall be signed and sealed by the Chairman and all the commissioners shall present at the meetings.

Article 19 (Restriction on Participation in Committee Meeting)

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제22편 통화․국채․금융 신용보증기금법 시행령

In a case where the agenda of a meeting of the committee concerns
personal interests of any commissioner of the Committee or his/her relative or the interests of an institution or an enterprise to which he/she belongs,
he/she shall not attend the meeting: Provided,That this provision shall
not be applicable when general operating matters are under consideration.

Article 19-2 (Organization, etc. to be Reguaranteed)

(1) Deleted. <by Presidential Decree No. 21482, May 6, 2009>
(2) When applying Article 23-2 (1) of the Act, the Fund shall not enter into a contract with a credit guarantee foundation under the Regional Credit
Guarantee Foundation Act (hereinafter referred to as an original guar-
antor ) which has entered into a reguarantee contract with the Korea
Technology Credit Guarantee Fund established pursuant to the Korea
Technology Credit Guarantee Fund Act. <AmendedbyPresidentialDecreeNo.

21482, May 6, 2009>

(3) The Fund shall not reguarantee any original guarantee for any obliga-
tion other than those pursuant to Article 2 (2) of the Act, and any obligation of an enterprise operating a business in the guarantee-restricted industry
pursuant to subparagraph 1 (b) of Article 24 of the Act. <AmendedbyPresi-

dential Decree No. 21482, May 6, 2009>

[This Article Newly Inserted by Presidential Decree No. 14828, Dec. 14, 1995]

Article 19-3 (Matters to be Observed by Original Guarantor, etc.)

The president of the Fund shall, in entering into a contract as provided in Article 23-2 (1) of the Act, cause the original guarantor to include in the contract the matters to be observed by the original guarantor in con- nection with reguarantee contract, payment of the reguarantee fee, pay- ment of the coverage amount, exercise of the right of indemnification, return of recovered money, etc., and those concerning the submission of a report to confirm whether the above mentions are fulfilled or not, and the inspection on the operational situation, etc.

[This Article Newly Inserted by Presidential Decree No. 14828, Dec. 14, 1995]

Article 19-4 (Rate of Reguarantee, etc.)

(1) The term rate as prescribed by Presidential Decree in Article 23-2 (3) of the Act means 50 percent: Provided,That in a case where the Financial Services Commission deems it particularly necessary for the activation of the regional economy, emergency disaster restoration, etc., the rate may be determined differently, within a limit of 60 percent. <AmendedbyPres-

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

idential Decree No. 20653, Feb. 29, 2008>

(2) The amount to be returned to the Fund by the original guarantor as provided in Article 23-2 (5) of the Act, shall be limited to the amount
of the coverage paid by the Fund as provided in Article 23-2 (4) of the Act.

[This Article Newly Inserted by Presidential Decree No. 14828, Dec. 14, 1995]

Article 19-5 (Claim for Discharge of Reguarantee Obligation)

The term period as prescribed by Presidential Decree in Article 23-2 (6) of the Act, means three months. [This Article Newly Inserted by Presidential Decree No. 14828, Dec. 14, 1995]

Article 19-6 (Termination and Alteration of Reguarantee Contract)

The Fund may terminate or alter the contract entered into with the original guarantor as provided in Article 23-2 (1) of the Act, in a case where causes falling under any of the following subparagraphs take place:
1. When the reguarantee service of the original guarantor as provided in Article 23-2 of the Act, is contrary to the provisions of the related Acts and subordinate statutes, or is carried out unlawfully;
2. When the original guarantor has been negligent in exercising the right of indemnification;
3. When any cause of termination or alteration of the contract stipulated
by the contract entered into by the Fund with the original guarantor, as provided in Article 23-2 (1) of the Act, takes place.

[This Article Newly Inserted by Presidential Decree No. 14828, Dec. 14, 1995]

Article 19-7 (Guarantee of Securitization Company)

(1) The term property right prescribed by Presidential Decree in the part other than the subparagraphs of Article 23-3 (1) of the Act means
any of the following subparagraphs:
1. Commercial paper pursuant to Article 4 (3) of the Financial Investment
Services and Capital Markets Act;
2. Assets recognized by the Financial Services Commission as specially necessary for the national economy from among assets by securitization
pursuant to subparagraph 3 of Article 2 of the Asset-Backed Securi-
tization Act.
(2) The maximum limit of assets by securitization, which a holder of assets may take over from the same enterprise pursuant to Article 23-3 (2) of
the Act, shall be determined with a deduction of a specific amount from
30 billion won, in cases where the same enterprise is a small and medium

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제22편 통화․국채․금융 신용보증기금법 시행령

enterprise, and from 50 billion won, in cases where the same enterprise
is one other than a small and medium enterprise, through a resolution of the board of directors of the Fund (hereinafter referred to as the Board
of Directors ) pursuant to Article 15-2 of the Act in consideration of credit rating or such: Provided, That the maximum limit may be determined
separately through a resolution of the Board of Directors in cases where it is recognized by the Financial Services Commission as specially necessary for the national economy.
(3) Matters necessary for standards and amounts of deduction pursuant
to paragraph (2) shall be determined through a resolution of the Board of Directors: Provided,That they may be determined separately through
a resolution of the Board of Directors in cases where they are recognized by the Financial Services Commission as specially necessary for the national economy.

[This Article Newly Inserted by Presidential Decree No. 21482, May 6, 2009]

Article 20 (Limit of Credit Guarantee, etc.)

(1) The limit of the total amount of credit guarantee, reguarantee and guarantee of a securitization company of the Fund as provided in Article 25 (1) of the Act, shall be 20 times the sum of the fundamental property and the earnings carried-over by the Fund. <AmendedbyPresidentialDecreeNo.15556,

Dec. 29, 1997; Presidential Decree No. 21482, May 6, 2009>

(2) The upper limit to which the Fund may grant a credit guarantee
(including reguarantee) to the same enterprise as provided in Article 25 (2)
of the Act, shall be determined by deducting a fixed amount calculated
by taking into consideration the uses, etc. of funds from three billion won,
and notwithstanding the provisions of Article 23-2 (3) of the Act, the upper
limit of the reguarantee to an enterprise which receives a credit guarantee from the original guarantor, shall be two hundred million won: Provided,
That where the Financial Services Commission deems it necessary for the national economy, the upper limit may be determined separately through a resolution of the board of directors. <AmendedbyPresidentialDecreeNo.15627,

Feb. 12, 1998; Presidential Decree No. 20653, Feb. 29, 2008>

(3) The matters necessary for the standards, amount, etc. of deducting
under the provisions of paragraph (2) shall be determined through a resolution of the Board of Directors: Provided, That if the Financial
Services Commission deems it particularly necessary for the national economy, they may be determined separately through a resolution of

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

the Board of Directors. <NewlyInsertedbyPresidentialDecreeNo.15627,Feb.12,

1998; Presidential Decree No. 20653, Feb. 29, 2008> [This Article Wholly Amended by Presidential Decree No. 14828, Dec. 14, 1995]

Article 21 (Causes for Requesting Discharge of Guarantee Obligation)

The term causes as prescribed by Presidential Decree in Article
29 (1) of the Act means causes falling under any of the following sub-
paragraphs: <AmendedbyPresidentialDecreeNo.9451,May7,1979;PresidentialDecree

No.14438,Dec.23,1994;PresidentialDecreeNo.14828,Dec.14,1995;PresidentialDecree

No. 20653, Feb. 29, 2008; Presidential Decree No. 21482, May 6, 2009>

1. With regard to a credit guarantee for a pecuniary obligation as referred to in Article 2 (2) 1 of the Act, when three months have passed since a guaranteed enterprise (hereinafter referred to as a guaranteed en- terprise ) defaults (including cases of forfeiting the benefit of time) on its obligation to a financial institution;
2. With regard to a credit guarantee for a pecuniary obligation as referred to in Article 2 (2) 2 of the Act, when three months have passed since a financial institution discharges its surety obligation;
3. With regard to a credit guarantee for debentures as referred to in Article 2 (2) 3 of the Act, when the principal or interest of the de- bentures is in default;
4. With regard to a credit guarantee for a pecuniary obligation as referred to in Article 2 (2) 4 of the Act and guarantee of a securitization company under Article 23 -3 (1) of the Act, when the cause prescribed by the Financial Services Commission occurs pursuant to the kind and nature of such an obligation.

Article 22 (Special Case of Causes for Requesting Discharge of Guarantee

Obligation)

(1) A creditor may request the Fund to discharge its guarantee ob- ligation, regardless of the provisions of Article 21, in cases where a guaranteed enterprise falls under any of the following subparagraphs:

<AmendedbyPresidentialDecreeNo.9735,Jan.23,1980;PresidentialDecreeNo.21482, May 6, 2009>

1. When the guaranteed enterprise concerned has become bankrupt or
been dissolved;
2. When the guaranteed enterprise concerned has not conducted busi- ness for not less than six months consecutively or has discontinued its business;

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제22편 통화․국채․금융 신용보증기금법 시행령

3. When any reason prescribed by the Board of Directors arises as cases
where the guaranteed enterprise is deemed to be difficult to normalize its management quickly since it has made an application for the
commencement of procedures for rehabilitation pursuant to the Debtor
Rehabilitation and Bankruptcy Act or such in addition to subparagraphs
1 and 2.
(2) In cases where the creditor intends to request the Fund to discharge its guarantee obligation as provided in paragraph (1), he/she shall verify the
facts which have become the cause. <AmendedbyPresidentialDecreeNo.21482,

May 6, 2009>

Article 23 (Scope of Subordinate Obligations)

The term subordinate obligation as prescribed by Presidential Decree<.. image removed ..> as provided in Article 29 (2) of the Act means the aggregate of such in- terest or additional dues falling under any of the following subparagraphs, and expenditures resolved by the Board of Directors among the expenses incurred by the creditor for the collection of his/her claim: <Amended by

PresidentialDecreeNo.9735,Jan. 23, 1980; PresidentialDecreeNo. 11523, Oct. 6, 1984; PresidentialDecreeNo.14438,Dec.23,1994;PresidentialDecreeNo.14828,Dec.14,1995; Presidential Decree No. 21482, May 6, 2009>

1. In the case of a credit guarantee for a pecuniary obligation as referred
to in Article 2 (2) 1 of the Act and guarantee of a securitization company under Article 23-3 (1) of the Act, the interest on the principal obligation
calculated at the interest rate applicable to the original contract
period, for the period from the maturity date of the said obligation to the date on which the Fund discharges its surety obligation;
2. In the case of a credit guarantee for a pecuniary obligation as referred
to in Article 2 (2) 2 through 4 of the Act, the interest and the additional dues as described by the operating manuals;
3. Deleted. <by Presidential Decree No. 14828, Dec. 14, 1995>

Article 23-2 (Notice Duty of Creditor)

The term a person as prescribed by Presidential Decree as provided in Article 31 (2) of the Act means a creditor of a pecuniary obligation as pro- vided in Article 2 (2) 1 and 2 of the Act and a creditor of credit offering pursuant to Article 23-3 (1) 2 of the Act. <Amended by Presidential Decree

No. 21482, May 6, 2009>

[This Article Newly Inserted by Presidential Decree No. 9738, Jan. 23, 1980]

Article 23-3 (Integrated Management of Credit Information, etc.)

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

(1) The Fund shall collect various materials concerning credit from
related institutions and enterprises as provided in Article 31-2 of the
Act, analyze and evaluate credit information obtained from credit surveys,
and also manage these materials and information systematically and by integration. <Amended by Presidential Decree No. 21482, May 6, 2009>
(2) The Fund may, in managing the credit information as provided in par-
agraph (1), make credit ratings classified by grade by analyzing system- atically the financial structure and characteristics of the enterprise in
question, current situation of the same industry, general economic situation
and other necessary matters.

[This Article Newly Inserted by Presidential Decree No. 11523, Oct. 6, 1984]

Article 24 (Entrustment of Business)

(1) The Fund may, as provided in Article 32 of the Act, entrust its affairs pursuant to classifications under the following subparagraphs: <Amendedby

Presidential Decree No. 21482, May 6, 2009>

1. Affairs under Article 23 (1) 2, 4 and 6 of the Act to financial institutions;
2. Affairs under Article 23 (1) 4 and 6 to Korea Asset Management
Corporation established under the Act on the Efficient Disposal of
Non-Performing Assets, etc. of Financial Institutions and the
Establishment of Korea Asset Management Corporation;
3. Affairs under Article 23 (1) 3-2, 4 and 6 of the Act to credit information companies under subparagraph 5 of Article 2 of the Use and Protection
of Credit Information Act.
(2) The Fund shall report in advance to the Financial Services
Commission if it intends to entrust its business as provided in para- graph (1). <AmendedbyPresidentialDecreeNo.11523,Oct.6,1984;PresidentialDecree

No.14438,Dec.23,1994;PresidentialDecreeNo.14828,Dec.14,1995;PresidentialDecree

No. 20653, Feb. 29, 2008>

[This Article Wholly Amended by Presidential Decree No. 9735, Jan. 23, 1980]

Article 24-2 (Guarantee Fee, etc.)

(1) The guarantee fee pursuant to the forepart of Article 33 (1) of the Act, and the overdue charge pursuant to Article 34 of the Act, shall be collected in accordance with the rate as prescribed by the operating manual provided in Article 24 of the Act, taking into consideration the credit rating of the relevant enterprise, kinds of guarantee, etc. <AmendedbyPresidential

Decree No. 21482, May 6, 2009>

(2) The performance guarantee fee pursuant to the latter part of Article

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제22편 통화․국채․금융 신용보증기금법 시행령

33 (1) of the Act shall be determined by a separate contract to be made
between the Fund and the relevant enterprise within 10/100 of the guaranteed amount as prescribed by the Financial Services Commission.

<Newly Inserted by Presidential Decree No. 21482, May 6, 2009>

(3) The reguarantee fee as provided in Article 33 (2) of the Act shall be
collected by the Fund from the original guarantor in accordance with the rate as prescribed by the operating manual as provided in Article 24 of
the Act, taking into consideration the amount, etc. paid for the coverage
out of the amount reguaranteed by the Fund for the original guarantor. (4) The guarantee fee in arrear pursuant to Article 33 (3) of the Act shall be an amount calculated by multiplying the unpaid guarantee fee by 10/100
per annum. <Newly Inserted by Presidential Decree No. 21482, May 6, 2009>

[This Article Wholly Amended by Presidential Decree No. 14828, Dec. 14, 1995]

Article 24-3 (Fees)

Fees pursuant to Article 33-2 of the Act shall be collected as prescribed by the operation manual pursuant to Article 24 of the Act in consideration of expenses and period required for performance of affairs and the degree
of difficulty of affairs or such.

[This Article Newly Inserted by Presidential Decree No. 21482, May 6, 2009]

Article 24-4 (Furnishing of Data and Request for Cooperation)

The term public organizations prescribed by Presidential Decree in Article
43-2 (1) of the Act means public agencies pursuant to Article 4 of the
Act on the Management of Public Institutions.

[This Article Newly Inserted by Presidential Decree No. 21482, May 6, 2009]

Article 25 (Scope of Directors, etc. of Guarantee-Prohibited Corporation) The term a person as prescribed by Presidential Decree as provided in subparagraph 2 of Article 46 of the Act means a person falling under any of the following subparagraphs: <AmendedbyPresidentialDecreeNo.14828,Dec.

14, 1995; Presidential Decree No. 21482, May 6, 2009>

1. A director, in a case where the aggregate amount of shares or investment
in the corporation concerned plus those of persons under the following items, exceeds 50 percent of the amount of total shares issued or total
capital contributions to the same corporation:
(a) Stockholders or one partner with limited liability;
(b) Any person having a relationship which falls under any of subpar- agraphs 1 through 5 of Article 20 of the Enforcement Decree of
the Framework Act on National Taxes with persons under item (a);

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

2. A business-conducting staff with unlimited liability.

Article 26 Deleted. <by Presidential Decree No. 14828, Dec. 14, 1995>

Article 27 Deleted. <by Presidential Decree No. 21482, May 6, 2009>

ADDENDA

Article 1 (Enforcement Date)

This Decree shall enter into force on March 1, 1975.

Article 2 (Transitional Measures)

(1) With respect to a credit guarantee already issued under the provisions of Chapter Ⅳ of the Emergency Decree for Economic Stability and Growth and the Small-and-Medium Enterprises Credit Guarantee Act at the time when the Act enters into force, the creditor concerned may, only when he/she has failed to collect his/her claim even after resorting to the compulsory execution, call upon the Fund to pay the amount of guarantee by submitting to the Fund a request for the discharge of the guarantee obligation together with documentary evidence of the bad debt.
(2) In case of payment of the obligation under guarantee as provided in paragraph (1), the subordinate obligation shall, regardless of the provi- sions of Article 23, comprise the interest on the principal obligation for not longer than one year from the payment, calculated at the contracted rate, plus court costs and compulsory execution costs to the extent acknowledged by the court as appropriate.

Article 3 (Committee s Resolution During Vicarious Execution of Fund s

Business)

While the Industrial Bank of Korea acts for the Fund as provided in Article 6 of the Addenda of the Act, the approval of the Minister of Finance shall take the place of a resolution of the Committee. In this case the preparation or revision of the operating manual under Article 24 of the Act, the formulation or revision of the operating manual as referred to in Article 26 (1) and (3) of the Act, and the determination of the maximum limit of a guarantee under the proviso of Article 20 (2) of this Decree, shall be subject to prior consultation with the Minister of Trade, Industry and Energy.

ADDENDUM <Presidential Decree No. 7833, Sep. 29, 1975>

This Decree shall enter into force on the date of its promulgation.

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제22편 통화․국채․금융 신용보증기금법 시행령

ADDENDUM <Presidential Decree No. 8604, Jun. 24, 1977>

This Decree shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 9451, May 7, 1979>

This Decree shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 9735, Jan. 23, 1980>

This Decree shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 10653, Dec. 29, 1981>

This Decree shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 11523, Oct. 6, 1984>

This Decree shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 12416, Mar. 18, 1988>

This Decree shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 12820, Oct. 17, 1989>

This Decree shall enter into force on the date of its promulgation.

ADDENDA <Presidential Decree No. 14438, Dec. 23, 1994>

Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation.

Articles 2 through 5 Omitted.

ADDENDUM <Presidential Decree No. 14828, Dec. 14, 1995>

This Decree shall enter into force on the date of its promulgation.

ADDENDUM <Presidential Decree No. 15556, Dec. 29, 1997>

This Decree shall enter into force on the date of its promulgation.

ADDENDA <Presidential Decree No. 15569, Dec. 31, 1997>

Article 1 (Enforcement Date)

This Decree shall enter into force on January 1, 1998.

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ENFORCEMENT DECREE OF THE CREDIT GUARANTEE FUND ACT

Articles 2 through 5 Omitted.

ADDENDA <Presidential Decree No. 15627, Feb. 12, 1998>

(1) (Enforcement Date) This Decree shall enter into force on the date of its promulgation.
(2) (Applicable Cases) This Decree shall apply to a credit guarantee or
reguarantee given for the first time or later after this Decree enters into
force.

ADDENDA <Presidential Decree No. 16709, Feb. 14, 2000>

Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation.

Article 2 Omitted.

ADDENDA <Presidential Decree No. 16736, Feb. 28, 2000>

Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation.

Article 2 Omitted.

ADDENDA <Presidential Decree No. 17791, Dec. 5, 2002>

Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation.

Articles 2 and 3 Omitted.

ADDENDA <Presidential Decree No. 20261, Sep. 10, 2007>

Article 1 (Enforcement Date)

This Decree shall enter into force on the date of its promulgation.

Articles 2 through 7 Omitted.

ADDENDA <Presidential Decree No. 20653, Feb. 29, 2008>

Article 1 (Enforcement Date)

This Decree shall enter into force on date of its promulgation. (Proviso
Omitted.)

Article 2 Omitted.

ADDENDA <Presidential Decree No. 21482, May 6, 2009>

Article 1 (Enforcement Date)

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제22편 통화․국채․금융 신용보증기금법 시행령

This Decree shall enter into force on May 7, 2009.

Article 2 (Transitional Measures)

Credit information companies pursuant to subparagraph 5 of Article 2 of the Use and Protection of Credit Information Act from among the amended
provision of Article 24 (1) 3 shall be deemed to be credit information busi- ness operators pursuant to subparagraph 4 of Article 2 of the same Act
until October 1, 2009.

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