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Selected Statutes of the Republic of Korea |
제6편 외무 한국국제교류재단법
Act No. 4414, Dec. 14, 1991
Amended by Act No. 5639, Jan. 21, 1999
Act No. 6589, Dec. 31, 2001
Act No. 6590, Dec. 31, 2001
Act No. 7058, Dec. 31, 2003
Act No. 7059, Dec. 31, 2003
Act No. 7400, Mar. 24, 2005
Act No. 7428, Mar. 31, 2005
Act No. 7908, Mar. 24, 2006
Act No. 8168, Jan. 3, 2007
Article 1 (Purpose)
The purpose of this Act is to contribute to encouraging the true appre-
ciation and better understanding of Korea and to the promotion of in-
ternational friendship in the international community, by establishing
the Korea Foundation (hereinafter referred to as the Foundation ) to
carry out various projects for the interchange between the Republic of
Korea and foreign countries.
Article 2 (Juristic Personality)
The Foundation shall be a juristic person.
Article 3 (Incorporation)
(1) The Foundation shall come into existence by making a registration
of incorporation at the seat of its principal office.
(2) Matters to be included in the registration of incorporation under
paragraph (1) shall be as follows:
1. Object;
2. Title;
3. Principal office;
4. Names and addresses of officers; and
5. Methods of public notices.
(3) With respect to registrations other than the registration of incor-
poration, the provisions of the Civil Act concerning the registration of an incorporated foundation shall apply mutatis mutandis.
Article 4 (Office)
(1) The seat of the principal office of the Foundation shall be deter-
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mined by the articles of association.
(2) The Foundation may, if necessary, establish branches in Korea and foreign countries with the approval of the Minister of
Foreign Affairs
and Trade. <Amended by Act No. 5639, Jan. 21, 1999>
Article 5 (Articles of Association)
(1) The articles of association of the Foundation shall include matters falling under any of the following subparagraph:
1. Object;
2. Title;
3. Matters concerning the principal office and branches;
4. Matters concerning projects;
5. Matters concerning the International Exchange Fund;
6. Matters concerning the property and accounting;
7. Matters concerning officers and employees;
8. Matters concerning the board of directors;
9. Matters concerning the modification of articles of association; and
10. Matters concerning the public notice.
(2) If the Foundation desires to modify the articles of association, it shall obtain the authorization of the Minister
of Foreign Affairs and
Trade. <Amended by Act No. 5639, Jan. 21, 1999>
Article 6 (Projects)
(1) The Foundation shall carry out the following projects in order to achieve the purpose of this Act: <Amended by Act No. 7400, Mar. 24, 2005>
1. Management of, support to and participation in the various events for the purpose of international exchanges;
2. Dispatch and invitation of the persons for the purpose of interna- tional exchanges;
3. Support to overseas researches on Korea and dissemination of the
research results;
4. Activities in general to help promote a better understanding of Korea in the international community;
5. Promotion of international goodwill and friendship through exchanges and cooperations with the major international exchange institutions
of foreign countries;
6. Support to the activities of the organizations related with the Korean residents abroad in order to enhance the status of Korea
in the in-
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제6편 외무 한국국제교류재단법
ternational community and to arouse national consciousness;
7. Other projects necessary for achieving the purpose of this Act; and
8. Projects incidental to those as referred to in subparagraphs 1 through
7.
(2) The Foundation may, with the approval of the Minister of Foreign
Affairs and Trade, carry on any profit-making project necessary for at- taining the purpose as prescribed in Article 1 in addition
to those as referred to in paragraph (1). <Amended by Act No. 5639, Jan. 21, 1999>
Article 7 (Officers)
(1) The Foundation shall have not more than nine directors including a chairman, and an auditor.
(2) Officers other than the chairman and full-time directors prescribed
by the articles of association, shall work part-time. <Amended by Act No.
5639, Jan. 21, 1999>
(3) The chairman shall be appointed by the President upon the pro- posal of the Minister of Foreign Affairs and Trade. <Amended by Act No.
5639, Jan. 21, 1999>
(4) Directors shall be appointed by the Minister of Foreign Affairs and Trade on the recommendation of the chairman. <Amended by Act No. 5639, Jan. 21, 1999>
(5) The auditor shall be appointed by the Minister of Foreign Affairs
and Trade. <Amended by Act No. 5639, Jan. 21, 1999>
(6) The tenure of the chairman and directors shall be three years, and that of the auditor, two years, but it is renewable
only one time.
Article 8 (Disqualification for Officers)
Any person who falls under any of the following subparagraphs shall not be appointed as an officer of the Foundation: <AmendedbyActNo.7428,Mar.
31, 2005>
1. A person who is not a national of the Republic of Korea;
2. A minor;
3. An incompetent or quasi-incompetent person;
4. A person who was declared bankrupt and is not reinstated;
5. A person who was sentenced to imprisonment without prison labor or more severe punishment, and for whom three years have
not passed
after the execution of such sentence is terminated, or non-execution becomes definite; and
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6. A person who is disqualified, or whose qualification is suspended, pur-
suant to a judgment of the court or under other Acts.
Article 9 (Functions of Officers)
(1) The chairman shall represent the Foundation, take charge of gen- eral affairs, and direct and control the employees.
(2) Full-time directors shall take partial charge of affairs of the Foun- dation under the conditions as prescribed by the articles
of association. If the chairman is absent by any accident, full-time directors shall act for him in such order as prescribed
by the articles of association.
(3) The auditor shall superintend and audit operations and accounts of the Foundation.
Article 10 (Restriction on Holding of Concurrent Positions by Officers and Employees)
Officers (excluding part-time directors and the auditor; hereafter the
same shall apply in this Article) or employees of the Foundation shall not be engaged in any profit-making activity other
than their duties, and any officer may not hold concurrently other positions without per- mission of the Minister of Foreign
Affairs and Trade, and employees shall not do so without permission of the chairman. <Amended by Act No.
5639, Jan. 21, 1999>
Article 11 (Board of Directors)
(1) In order to deliberate and decide important matters pertaining to
its activities, the Foundation shall have the board of directors.
(2) The board of directors shall be composed of directors including the
chairman.
(3) The chairman shall convene and preside over meetings of the board
of directors.
(4) The auditor may attend the board of directors and state his opinion.
Article 12 (Appointment and Dismissal of Employees)
The employees of the Foundation shall be appointed and dismissed by
the chairman under the conditions as prescribed by the articles of as-
sociation.
Article 13 (Creation and Operation of Fund)
(1) Fund for international exchanges (hereinafter referred to as the
Fund ) shall be established at the Foundation to be appropriated to
the funds necessary for the operation and business of the Foundation.
(2) The Fund shall be operated and managed by the Foundation.
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제6편 외무 한국국제교류재단법
(3) The Foundation may, with a part of the Fund, make a contribution
to or subsidize a project of the Overseas Korea Foundation under the
Overseas Korea Foundation Act. <NewlyInsertedbyActNo.7400,Mar.24,2005>
(4) Matters necessary for the operation and management of the Fund
shall be prescribed by the Presidential Decree.
Article 14 (Revenue Sources of Fund)
The Fund shall be formed from the following revenue sources:
1. Contributions and endowments of the Government or others;
2. International exchange endowments as prescribed in Article 16;
3. Borrowed money as prescribed in Article 18;
4. Proceeds accruing from the operation of the Fund; and
5. Other revenue.
Article 15 (Contribution)
(1) In order to meet expenses needed for the establishment and oper-
ation of the Foundation and the Fund referred to in Article 13, the Gov-
ernment may grant the contribution necessary for the Foundation within
the limit of the budget.
(2) Matters necessary for the grant, use, etc. of the contribution as
referred to in paragraph (1) shall be determined by the Presidential
Decree.
Article 16 (Fund-Raising)
(1) The Foundation may, if necessary to raise its funds, be granted in-
ternational interchange endowments from persons who are eligible for
the issuance of passports, etc. pursuant to the Passport Act, subject to
the approval of the Minister of Foreign Affairs and Trade, notwithstand-
ing the provisions of the Donations Collection and Their Use Act. <Amended
by Act No. 5639, Jan. 21, 1999; Act No. 7908, Mar. 24, 2006>
(2) The limit of the fund amount to be raised under paragraph (1) shall be up to 15 thousand won and necessary matters concerning the ob- jects, amount, etc. of fund-raising shall be prescribed by the Presidential Decree. <Amended by Act No. 8168, Jan. 3, 2007>
Article 17 (Gratuitous Lending, etc. of National Property, etc.)
If it is necessary for the establishment and operation of the Foundation,
the Government may lend any state property to the Foundation or allow
the Foundation to use it free of charge or to make any profit from it.
Article 18 (Borrowing of Funds)
(1) The Foundation may borrow money needed for projects as prescribed
- 5 -
in Article 6 (including borrowings of money from international organi-
zations, foreign governments or foreigners).
(2) If the Foundation desires to borrow money under paragraph (1), it
shall obtain approval of the Minister of Foreign Affairs and Trade.
<Amended by Act No. 5639, Jan. 21, 1999>
Article 19 (Business Year)
The business year of the Foundation shall correspond to the fiscal year
of the Government.
Article 20 (Approval for Business Plan and Draft Budget)
The Foundation shall prepare the business plan and draft budget for each
business year under the conditions as prescribed by the Presidential De-
cree, and obtain approval of the Minister of Foreign Affairs and Trade.
The same shall also apply in case where the Foundation desires to modify
them. <Amended by Act No. 5639, Jan. 21, 1999>
Article 21 (Submission of Financial Statement)
The Foundation shall prepare a statement of revenue and expenditure
accounts for each business year, and submit it to the Minister of For-
eign Affairs and Trade not later than the end of February in the follow-
ing business year. <Amended by Act No. 5639, Jan. 21, 1999>
Article 22 (Duty to Keep Secret Strictly)
No person who is or was an officer or employee of the Foundation, shall
divulge any secret which comes to his knowledge in the course of his
duties.
Article 23 (Prohibition of Use of Similar Title)
No person other than the Foundation as prescribed by this Act may use
the title Korea Foundation or similar to it.
Article 24 (Application Mutatis Mutandis of Civil Act)
Except as provided by this Act, the provisions of the Civil Act concerning incorporated foundations shall apply mutatis mutandis to the Founda- tion.
Article 25 (Legal Fiction as Public Officials in Application of Penal Pro- visions)
In application of Articles 129 through 132 of the Criminal Act, officers
and employees of the Foundation shall be considered as public officials.
Article 26 (Penal Provisions)
(1) Any person who violates the provisions of Article 22, shall be pun-
ished by imprisonment for not more than two years or by a fine not ex-
ceeding five million won. <Amended by Act No. 5639, Jan. 21, 1999>
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제6편 외무 한국국제교류재단법
(2) Deleted. <by Act No. 5639, Jan. 21, 1999>
Article 26-2 (Fine for Negligence)
(1) A person who violates the provisions of Article 23 shall be punished
by a fine for negligence not exceeding two million won.
(2) A fine for negligence as prescribed in paragraph (1) shall be im-
posed and collected by the Minister of Foreign Affairs and Trade under
the conditions as prescribed by the Presidential Decree.
(3) A person who is dissatisfied with a disposition of fine for negligence
under paragraph (2), may raise an objection to the Minister of Foreign
Affairs and Trade within thirty days after he receives notice of said
disposition.
(4) If a person who is subject to a disposition of fine for negligence under
paragraph (2) raises an objection under paragraph (3), the Minister of
Foreign Affairs and Trade shall, without delay, notify the competent
courts, which, in turn, shall proceed to a trial on a fine for negligence
pursuant to the Non-Contentious Case Litigation Procedure Act.
(5) If a fine for negligence is not paid without an objection within the
period as prescribed in paragraph (3), it shall be collected in the same
manner as national taxes in arrears are collected.
[This Article Newly Inserted by Act No. 5639, Jan. 21, 1999]
Article 27 (Enforcement Decree)
Matters necessary for the enforcement of this Act shall be determined
by the Presidential Decree.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Article 2 (Preparation for Establishment)
(1) The Minister of Foreign Affairs shall entrust the establishment com- mittee composed of five or less members with affairs concerning
the es- tablishment of the Foundation within thirty days after this Act enters into force.
(2) The establishment committee shall prepare the articles of association of the Foundation to obtain the authorization of the Minister
of Foreign Affairs.
(3) The establishment committee shall, upon obtaining the authorization as referred to in paragraph (2), make without delay the establishment
- 7 -
registration of the Foundation under a joint signature.
(4) The establishment committee shall transfer official duties to the
chairman of the Foundation immediately after the establishment of the
Foundation is registered.
(5) When the transfer of official duties under paragraph (4) is completed,
the establishment committee shall be considered to be released from the
commission.
(6) Expenses disbursed for the establishment of the Foundation until the
Foundation is established, shall be borne by the Korea International
Culture Association which is an incorporated association (hereinafter
referred to as the Association ).
Article 3 (Transitional Measures for Association)
(1) In case where a general meeting of members resolves that all prop-
erty, right and obligations should be succeeded to by the Foundation to
be established under this Act, the Association existing at the time when
this Act enters into force shall be considered to have been dissolved re-
gardless of the provisions of the Civil Act concerning the dissolution and
liquidation of a juristic person, and all property, rights and obligations
which belong to the Association, shall be succeeded to by the Foundation.
(2) The value of the property to be succeeded to by the Foundation under
paragraph (1) shall be the book value on the day immediately before the
establishment of the Foundation is registered.
Article 4 (Transitional Measures concerning Approval on Operation
Plan, etc.)
Notwithstanding the provisions of Article 20, the Foundation shall, without
delay after the establishment of the Foundation, prepare a plan of oper-
ation and a bill of budget for the first business year to obtain the approval
of the Minister of Foreign Affairs.
ADDENDA <Act No. 5639, Jan. 21, 1999>
(1) (Enforcement Date) This Act shall enter into force on the date of its promulgation
(2) (Transitional Measures for Penal Provisions) The application of penal provisions to an act of violating the provisions
of Article 23 before this Act enters into force, shall be subject to the previous provisions.
ADDENDA <Act No. 6589, Dec. 31, 2001>
Article 1 (Enforcement Date)
- 8 -
제6편 외무 한국국제교류재단법
This Act shall enter into force on January 1, 2002. (Proviso Omitted.)
<Amended by Act No. 7058, Dec. 31, 2003>
Articles 2 through 8 Omitted.
ADDENDA <Act No. 6590, Dec. 31, 2001>
Article 1 (Enforcement Date)
This Act shall enter into force on March 1, 2002. (Proviso Omitted.)
<Amended by Act No. 7059, Dec. 31, 2003>
Articles 2 through 6 Omitted.
ADDENDA <Act No. 7058, Dec. 31, 2003>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2004.
Article 2 Omitted.
ADDENDA <Act No. 7059, Dec. 31, 2003>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2004.
Articles 2 through 5 Omitted.
ADDENDUM <Act No. 7400, Mar. 24, 2005>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 7428, Mar. 31, 2005>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promul-
gation.
Articles 2 through 6 Omitted.
ADDENDA <Act No. 7908, Mar. 24, 2006>
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promul-
gation.
Articles 2 through 5 Omitted.
ADDENDUM <Act No. 8168, Jan. 3, 2007>
This Act shall enter into force three months after the date of its promul- gation.
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