Article 45 (Contribution, etc. to Intra-Company Labor Welfare Fund)(1) When contributing to the intra-company labor welfare fund in accordance with Article 61 (1) of the Act, a business owner shall notify the welfare fund council, fixing the period of contribution within 30 days from the decision date of the welfare fund council, and shall, when contributing to that fund in accordance with Article 61 (2) of the Act, also notify the welfare fund council before the contribution.
(2) The phrase “property specified by Presidential Decree” referred to in Article 61 (2) of the Act means the real estate necessary for conducting the affairs of the fund corporation under Article 67 of the Act, and the property prescribed by its articles of incorporation.
(3) Necessary matters concerning the methods of contribution, etc. under paragraph (1) shall be prescribed by the articles of incorporation.
Article 46 (Business Activities and Beneficiaries of Fund Corporation)(1) The business activities of the fund corporation under Article 62 (1) and (3) of the Act shall be conducted so as to benefit all employees, but preferentially treat low-income employees.
(2) The phrase “business activities prescribed by Presidential Decree” referred to in Article 62 (1) 7 of the Act means the following business activities:
1. Providing support for the sports and cultural activities of employees;
2. Support for events for the Labor Day;
3. Other business activities prescribed by the articles of incorporation, which are aimed at supporting the property formation of and providing a living aid to employees.
(3) In cases of implementing business activities under Article 62 (1) of the Act, the fund corporation may operate a system through which each employee voluntarily selects and enjoys welfare benefits based on individual preferences and needs among various benefits (hereinafter referred to as “selective welfare system”).
(4) The fund corporation may use any of the amounts classified in accordance with Article 62 (2) of the Act for business activities of the intra-company labor welfare fund: Provided, That the amount specified in subparagraph 2 shall be used only for business activities with own capital stocks: <Amended by Presidential Decree No. 23840, Jun. 5, 2012; Presidential Decree No. 28411, Oct. 31, 2017>
1. Amount calculated by multiplying the ratio determined by the welfare fund council by the amount contributed by the business owner, etc. to the intra-company labor welfare fund for the relevant fiscal year of the intra-company labor welfare fund, if there is such contributed amount. In such cases, no ratio determined by the welfare fund council shall exceed 50/100, and it shall not exceed 80/100 in cases falling under any subparagraph of Article 62 (2) of the Act;
2. Amount determined by the welfare fund council within the range of excess amount, if the total amount of fundamental property exceeds 50/100 of capital stock of the relevant business activity;
3. Amount determined by the welfare fund council every five years, which does not exceed 20/100 of the total amount of fundamental property for the immediately preceding fiscal year, where the amount calculated by dividing the total amount of fundamental property for the immediately preceding fiscal year by the number of employees engaged in business activities for which a relevant fund corporation has been established is at least three million won, and also in cases falling under Article 62 (2) 2 of the Act.
(5) The phrase “cases specified by Presidential Decree” referred to in Article 62 (3) of the Act means the following cases:
1. Where an employee newly constructs, purchases, or leases a house;
2. Where an employee purchases employee stocks;
3. Where an employee needs stabilization of livelihood;
4. Other cases prescribed by the articles of incorporation, equivalent to the provisons of subparagraphs 1 through 3.
Article 47 (Operation of Intra-Company Labor Welfare Fund)(1) The phrase “the limit prescribed by Presidential Decree” referred to in subparagraph 4 of Article 63 of the Act means an amount determined by the welfare fund council up to the extent of the 20/100 of fundamental property.
(2) The phrase “business activities specified by Presidential Decree” referred to in subparagraph 5 of Article 63 of the Act means the following business activities:
1. Purchase of the stocks issued by an investment company under the Financial Investment Services and Capital Markets Act;
2. Purchase of the stocks issued by a real estate investment company under the Real Estate Investment Company Act.
Article 48 (Accounting Principle of Intra-Company Labor Welfare Fund)In accordance with Article 64 of the Act, the accounts of the intra-company labor welfare fund shall be treated in conformity with the accounting principle so as to accurately ascertain the management performance and property status of its business activities.
Article 49 (Budget and Settlement of Accounts of Intra-Company Labor Welfare Fund)(1) The budget of the intra-company labor welfare fund shall be prepared so as to consist of the details of the general provisions of budget, the estimated balance sheet, the estimated statement of profits and losses, and the supplementary schedules, necessary for clarifying their contents shall be prepared.
(2) The statements of the settlement of accounts of the intra-company labor welfare fund for the relevant year shall be prepared so as to consist of the contents of the balance sheet, the statement of profit and loss, the statements of appropriation of retained earnings, etc. and the supplementary schedules necessary for clarifying their contents shall be prepared.
Article 50 (Disclosure of Matters concerning Management and Operation of Fund Corporation)Disclosure under Article 66 of the Act shall be conducted by means such as publication in a company magazine and notice in a company.
Article 51 (Ownership of Real Estate of Fund Corporation)Cases where it is necessary for executing its business affairs referred to in Article 67 of the Act shall be as follows:
1. Ownership of an office and facilities attached thereto, necessary for the operation and management of the fund corporation;
2. Deleted; <by Presidential Decree No. 30175, Oct. 29, 2019>
3. Ownership of labor welfare facilities under Article 62 (1) 5 of the Act;
4. Ownership of real estate donated or contributed to the intra-company labor welfare fund: Provided, That except where real estate is donated or contributed for any of the purposes referred to in subparagraph 1 through 3, the fund corporation shall not own real estate unless it converts the real estate so as to be managed in any manner provided for in Article 63 of the Act within one year from the date of donation or contribution of real estate, without unjustifiable grounds.
Article 52 (Notification of Dissolution of Fund Corporation)Where the fund corporation is dissolved in accordance with Article 70 of the Act, the liquidator shall notify the Minister of Employment and Labor, specifying the ground therefor.
Article 53 (Payment of Unpaid Money and Goods)(1) Where in accordance with Article 71 (1) of the Act, the fund corporation intends to pay from its property, the money and goods business owner has not paid to employees (hereafter referred to as “unpaid money and goods” in this Article), it shall prove that the business owner has no ability to liquidate such unpaid money and goods.
(2) Where paying unpaid money and goods to employees in accordance with paragraph (1) and the property of the fund corporation is insufficient to pay them, the welfare fund council shall determine the payment rate and method.
Article 54 (Attribution of Residual Property)Where the residual property of the fund corporation is attributed to the Labor Welfare Promotion Fund under Article 87 of the Act (hereinafter referred to as “Promotion Fund”) in accordance with the proviso to Article 71 (2) of the Act, the liquidator of the fund corporation shall submit the list of residual property to the Minister of Employment and Labor within three weeks from completion of the liquidation and deliver the residual property without delay.
Article 55 (Ensuring Anonymity for Confidentiality)The phrase “cases prescribed by Presidential Decree” referred to in Article 83 (2) of the Act means where the employees participating in the employee support program consent to the objects or consent of disclosure.
Article 55-2 (Contribution to Common Labor Welfare Fund)The phrase “property prescribed by Presidential Decree” referred to in Article 86-2 (2) of the Act means the following property:
1. Real estate necessary for performing the affairs of the common labor welfare fund corporation (hereinafter referred to as “common fund corporation”) under Article 86-3 of the Act;
2. Property provided for in the articles of incorporation of the common fund corporation.
[This Article Newly Inserted by Presidential Decree No. 26908, Jan. 19, 2016]
Article 55-3 (Support for Business Activities of Common Fund Corporation)(1) The Welfare Service may, in accordance with Article 86-5 of the Act, provide support within the scope of 100/100 of the amount contributed by business owners under Article 86-2 (1) and (2) of the Act to any of the following common fund corporations: <Amended by Presidential Decree No. 30298, Dec. 31, 2019>
1. The common fund corporation established by a business owner of a small and medium enterprise (hereinafter referred to as “business owner of a small and midium enterprise”) under Article 2 of the Framework Act on Small and Medium Enterprises and a business owner of a large enterprise under subparagraph 2 of Article 2 of the Act on the Promotion of Collaborative Cooperation between Large Enterprises and Small-Medium Enterprises;
2. A common fund corporation established by at least two business owners of small and medium enterprises.
(2) Where a common fund corporation under paragraph (1) 2 receives contributions from persons other than a business owner under Article 86-2 (2) of the Act, the Welfare Service may provide support within the scope of 100/100 of the amount. <Newly Inserted by Presidential Decree No. 30298, Dec. 31, 2019>
(3) Matters necessary for the requirements for support, the scale of support and the period of support where providing support in accordance with paragraphs (1) and (2), shall be determined and publicly notified by the Minister of Employment and Labor. <Amended by Presidential Decree No. 30298, Dec. 31, 2019>
[This Article Newly Inserted by Presidential Decree No. 26908, Jan. 19, 2016]
Article 55-4 (Application Mutatis Mutandis)@Articles 30 through 44, 46 through 52, 63, and 64 shall apply mutatis mutandis to the common welfare fund. In such cases, “intra-company labor welfare fund corporation” shall be construed as “common labor welfare fund corporation,” “preparatory committee for the incorporation of the fund corporation” as “preparatory committee for the incorporation of the common fund corporation,” “preparatory committee” as “preparatory committee for establishment,” “intra-company labor welfare fund” as “common labor welfare fund,” “fund corporation” as “common fund corporation,” “intra-company labor welfare fund council” as “common welfare fund council,” “welfare fund council” as “common fund council,” “Article 55 (2) of the Act” as “Article 86-4 (2) of the Act,” and “intra-company labor welfare fund programs” as “programs under each subparagraph of Article 62 (1) of the Act,” respectively.
[This Article Newly Inserted by Presidential Decree No. 26908, Jan. 19, 2016]
Article 56 (Other Revenues)Other revenues under Article 88 (1) 11 of the Act shall be the following:
1. Revenues accrued from the operation of the welfare facilities for employees established and operated by the State in accordance with Article 28 (1) of the Act, and the operation of labor welfare programs;
2. Other revenues recognized by the Minister of Employment and Labor.
Article 57 (Composition, etc. of Deliberative Committee on Labor Welfare Promotion Fund)(1) The Deliberative Committee for Operation of the Promotion Fund (hereinafter referred to as “Deliberative Committee”) shall be established in the Welfare Service, to deliberate on important affairs concerning the management and operation of the Promotion Fund under Article 90 of the Act.
(2) The Deliberative Committee shall be comprised of up to 15 members, including one Chairperson.
(3) The President of the Welfare Service shall serve as the Chairperson of the Deliberative Committee, and the members shall be commissioned by the President of the Welfare Service from among the public officials in general service, in charge of the affairs concerning the Promotion Fund who belong to the Senior Civil Service of the Ministry of Employment and Labor, the public officials in general service in charge of budget affairs concerning labor welfare who belong to the Senior Civil Service Corps of the Ministry of Strategy and Fiance, and the following persons:
1. Full-time directors of the Welfare Service;
2. Persons representing employees;
3. Persons representing employers;
4. Persons recognized to have affluent knowledge and experience in labor welfare.
5. Persons recognized to have affluent knowledge and experience in the management and operation of the Promotion Fund.
(4) The term of office of the members falling under paragraph (3) 2 through 5 commissioned by the President of the Welfare Service, shall be two years: Provided, That the term of office of the members for filling a vacancy shall be the remainder of his/her predecessor’s term of office.
(5) The Deliberative Committee shall deliberate on the following matters:
1. Establishment and Implementation of the Operational Plan for the Promotion Fund under Article 58;
2. The settlement of accounts of the Promotion Fund under Article 59;
3. Other matters the Chairperson of the Deliberative Committee refers to a meeting of the Deliberative Committee with respect to the management and operation of the Promotion Fund.
(6) In addition to the matters prescribed by this Decree, those necessary for the operation of the Deliberative Committee shall be determined by the Chairperson via a resolution of the Deliberative Committee.
Article 58 (Formulation of Operational Plans for Promotion Fund)(1) Each fiscal year, the Welfare Service shall formulate a draft operational plan for the Promotion Fund for the next year, in accordance with the National Finance Act.
(2) To establish a draft operational plan for the Promotion Fund under paragraph (1) or modify an operational plan for the Promotion Fund, the Welfare Service shall refer it to the Deliberative Committee for deliberation.
[This Article Wholly Amended by Presidential Decree No. 25520, Jul. 28, 2014]
Article 59 (Settlement of Accounts of Promotion Fund)(1) Each fiscal year, the Welfare Service shall prepare a written report on the settlement of accounts of the Promotion Fund for the previous year and submit it to the Minister of Strategy and Finance by the last day of February via the Minister of Employment and Labor.
(2) When submitting a written report on the settlement of accounts in accordance with paragraph (1), the following documents shall be attached:
1. Documents concerning the outlined content and analysis of the settlement of accounts of the Promotion Fund;
2. Financial statements such as the balance sheet and the statement of profits and losses;
3. Documents proving cash revenues and expenditures such as the statement of accounts for revenues and expenses;
4. Other documents the Minister of Employment and Labor deems necessary for the confirmation of the accuracy of the settlement of accounts of the Promotional Fund.
(3) Where, in the course of the settlement of accounts of the Promotion Fund, it is found that profit has accrued, the Welfare Service shall appropriate such profit to offset any loss brought forward and deposit the remainder into the Promotion Fund.
Article 60 (Detailed Operational Rules on Promotion Fund)In addition to the matters prescribed by this Decree, those necessary for the management and operation of the Promotion Fund shall be determined by the Welfare Service with approval of the Minister of Employment and Labor. The same shall apply where modifying any approved matter.
Article 61 (Purposes of Promotional Fund)The phrase “businesses prescribed by Presidential Decree” referred to in subparagraph 17 of Article 91 of the Act means the following business:
1. Business for supporting the post-retirement life of employees, such as business for the retirement pension system;
2. Business included in the operational plan for the Promotion Fund under Article 58, which the Welfare Service deems necessary upon deliberation by the Deliberative Committee.
Article 62 (Supervision over Operation of Promotion Fund)(1) The Welfare Service shall report on the current status of the execution of the operational plan for Promotional Fund and the operation of surplus fund to the Minister of Employment and Labor within 30 days after the close of each quarter.
(2) If deemed necessary to enhance the efficiency and the character of public interest, the Minister of Employment and Labor may formulate guidelines on the operation of the Promotion Fund and request the Welfare Service to comply therewith.
Article 63 (Reporting of Operational Status of Fund Corporation)(1) In accordance with Article 93 (1) 3 of the Act, a fund corporation shall report on the operation status for the relevant year, a business plan for the next year (including an estimated balance sheet and an estimated statement of profits and losses) and those matters determined by the Minister of Employment and Labor, to the head of the competent regional employment and labor office within three months after the close of every fiscal year.
(2) The head of the competent regional employment and labor office in receipt of a report on the operations status, etc, of a fund corporation in accordance with paragraph (1) shall report the content to the Minister of Employment and Labor by the tenth day of the month immediately after the close of every quarter.
Article 64 (Requirement, etc. of Submission of Materials)(1) Any reporting or submission of materials required under Article 93 (1) or (2) of the Act shall be done in writing.
(2) Where issuing an order for rectification or an other order in accordance with Article 93 (1) or (2) of the Act, the period determined by Ordinance of the Ministry of Employment and Labor shall be granted, and may be extended once in extenuating circumstances.
Article 65 (Delegation and Entrustment of Authority)(1) The Minister of Employment and Labor shall delegate authority over the following matters, to the heads of regional employment and labor offices in accordance with Article 94 of the Act: <Amended by Presidential Decree No. 25520, Jul. 28, 2014>
1. Deleted; <by Presidential Decree No. 28411, Oct. 31, 2017>
2. Receipt of reports under the latter part of Article 47 (1) of the Act;
3. Authorization to establish a fund corporation and authorization to amend the articles of incorporation of a fund corporation under Articles 52 (4) and 53 of the Act;
4. Order for rectification under Article 69 of the Act;
5. Request for reports on the business, accounting and property of a fund corporation under Article 93 (1) 3 of the Act, inspection of accounting books, documents, etc., and the issuance of an order for rectification;
6. Request or order to a business owner or association to make a report, and the investigation or inspection of accounting books, documents, etc., among the affairs referred to in Article 93 (2) of the Act;
7. Imposition and collection of administrative fines under Article 99 of the Act (excluding, however, the imposition and collection of administrative fines against institutions providing loan services, trusting institutions under Article 43 of the Act or persons offered subsidy or loans);
8. Receipt of notification of a preparatory committee for the establishment of an association under Article 8 (4) and issuance of written certifications under paragraph (5) of the same Article;
9. Receipt of reports on matters concerning change of the total amount of fundamental property under Article 35 (2);
10. Receipt of notification of dissolution of a fund corporation under Article 52;
11. Receipt of lists of residual property submitted in accordance with Article 54.
(2) The Minister of Employment and Labor shall entrust the following affairs to the Welfare Service in accordance with Article 94 (2) of the Act:
1. Subsidization with living stabilization fund under Article 19 of the Act;
2. Granting scholarships or student loans under Article 20 of the Act;
3. Subsidization of expenses to business owners under Article 28 (4) of the Act;
4. Subsidization for costs of using private welfare facilities under Article 31 of the Act.
(3) The Minister of Employment and Labor shall entrust the Minister of Health and Welfare with the affairs of requesting the relevant agencies and organizations for necessary materials, as referred to in Article 10 (1) of the Act, with respect to subsidization with living stabilization fund under Article 19 of the Act and credit guarantee support under Article 22 of the Act. <Newly Inserted by Presidential Decree No. 22946, May 30, 2011>
Article 66 (Return Procedures for Subsidies or Loans)Where ordering the return of amounts of the subsidies or loans granted by the State or a local government in accordance with Article 95 of the Act, the same procedures shall be followed as the procedures for the recovery of subsidies under the Subsidy Management Act.
<Amended by Presidential Decree No. 27113, Apr. 28, 2016>
Article 66-2 (Management of Sensitive Information and Personally Identifiable Information)The Minister of Employment and Labor (including persons entrusted with any affairs of the Minister of Employment and Labor in accordance with Article 65 (2) and (3)), the Welfare Service, the associations, entities in which employee stocks are deposited in Article 43 (1) of the Act, fund corporations, or common fund corporations may, if inevitable for performing the following affairs, manage information containing health data under Article 23 of the Personal Information Protection Act and resident registration numbers or alien registration numbers under subparagraph 1 or 4 of Article 19 of the Enforcement Decree of the same Act: <Amended by Presidential Decree No. 25520, Jul. 28, 2014; Presidential Decree No. 26908, Jan. 19, 2016>
1. Affairs concerning support under Article 19 of the Act such as loans for living stabilization fund;
2. Affairs concerning credit guarantee under Article 22 of the Act;
3. Affairs concerning management of employee stock ownership association funds under Article 36 (2) of the Act;
4. Affairs concerning the management of the accounts of members of employee stock ownership associations under Article 37 of the Act;
5. Affairs concerning the preferential allocation to the members of employee stock ownership association under Article 38 of the Act;
6. Affairs concerning the granting of employee stock options under Article 39 of the Act;
7. Affairs concerning the deposit, etc. of employee stocks under Article 43 of the Act;
8. Affairs concerning the withdrawal, etc. of employee stocks under Article 44 of the Act;
9. Affairs concerning the exercise of voting rights at a general meeting of stockholders based on the ownership of employee stocks under Article 46 of the Act;
10. Affairs concerning the business activities under Article 62 of the Act (including cases to which the relevant provisions of the Act shall apply mutatis mutandis in accordance with Article 86-11 of the Act);
11. Affairs concerning the use of the Labor Welfare Promotion Fund under Article 91 of the Act;
12. Affairs concerning guidance, supervision, etc. under Article 93 of the Act (including cases to which the relevant provisions of the Act shall apply mutatis mutandis in accordance with Article 86-11 of the Act).
[This Article Newly Inserted by Presidential Decree No. 23488, Jan. 6, 2012]
Article 66-3 (Re-examination of Regulations)(1) The Minister of Employment and Labor shall examine the appropriateness of the following matters every three years, counting from each base date specified in the following subparagraphs (referring to the period that ends on the day before every third anniversary from the base date) and shall take measures, such as making improvements: <Amended by Presidential Decree No. 26810, Dec. 30, 2015; Presidential Decree No. 27751, Dec. 30, 2016>
1. Content of the bylaws; the holding of general meetings; the composition and operation of the employee stock operation committee; and the exercise of voting rights of the association under Articles 11 through 13, and 28: January 1, 2017;
2. Use of the association fund, the allocation of employee stocks by the association under Articles 17, 19, and a: January 1, 2017;
3. Trust institutions, the furnishing of deposited employee stocks as collateral and the preferential purchase of withdrawn employee stocks under Articles 22, 24, and 26: January 1, 2017;
4. Application for authorization to incorporate an intra-company labor welfare fund corporation under Article 30: January 1, 2017;
5. Incorporation registration, etc. of a fund corporation under Article 32: January 1, 2017;
6. Application for authorization to amend the articles of incorporation under Article 38: January 1, 2017;
7. Election of employee members under Article 39: January 1, 2017;
8. Attribution procedures for residual property under Article 54: January 1, 2017.
(2) The Minister of Employment and Labor shall examine the appropriateness of the following matters every third anniversary from the following base dates (referring to the period ending the day before the third anniversary from the base date) and shall take measures, such as making improvements: <Amended by Presidential Decree No. 26810, Dec. 30, 2015>
1. Institutions providing loan services for labor welfare business under Article 3: January 1, 2016;
2. Eligibility for members of an employee stock ownership association under Article 10: January 1, 2016.
[This Article Newly Inserted by Presidential Decree No. 25840, Dec. 9, 2014]
Article 67 (Imposition Standards for Administrative Fines)Standards for imposition of administrative fines under Article 99 of the Act shall be as listed in attached Table. <Amended by Presidential Decree No. 25520, Jul. 28, 2014>
[This Article Wholly Amended by Presidential Decree No. 22806, Mar. 30, 2011]
Supplementary provisions ADDENDA <Presidential Decree No. 22806, Mar. 30, 2011>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDUM <Presidential Decree No. 22946, May 30, 2011>
This Decree shall enter into force on the date of its promulgation.
Supplementary provisions ADDENDA <Presidential Decree No. 23488, Jan. 6, 2012>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDA <Presidential Decree No. 23496, Jan. 6, 2012>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDA <Presidential Decree No. 23840, Jun. 5, 2012>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDA <Presidential Decree No. 24697, Aug. 27, 2013>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDUM <Presidential Decree No. 25520, Jul. 28, 2014>
This Decree shall enter into force on July 29, 2014.
Supplementary provisions ADDENDA <Presidential Decree No. 25840, Dec. 9, 2014>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDUM <Presidential Decree No. 26810, Dec. 30, 2015>
This Decree shall enter into force on the date of its promulgation.
Supplementary provisions ADDENDUM <Presidential Decree No. 26908, Jan. 19, 2016>
This Decree shall enter into force on January 21, 2016.
Supplementary provisions ADDENDA <Presidential Decree No. 27113, Apr. 28, 2016>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDA <Presidential Decree No. 27556, Oct. 25, 2016>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDA <Presidential Decree No. 27751, Dec. 30, 2016>
Article 1 (Enforcement Date)
Supplementary provisions ADDENDUM <Presidential Decree No. 28162, Jun. 27, 2017>
This Decree shall enter into force on June 28, 2017.
Supplementary provisions ADDENDUM <Presidential Decree No. 28411, Oct. 31, 2017>
This Decree shall enter into force on the date of its promulgation: Provided, That the amended provisions of Article 46 (4) 3 shall enter into force three
Supplementary provisions ADDENDUM <Presidential Decree No. 29950, Jul. 2, 2019>
This Decree shall enter into force on the date of its promulgation. (Proviso Omitted.)
Supplementary provisions ADDENDUM <Presidential Decree No. 30175, Oct. 29, 2019>
This Decree shall enter into force on the date of its promulgation.
Supplementary provisions ADDENDUM <Presidential Decree No. 30298, Dec. 31, 2019>
This Decree shall enter into force on the date of its promulgation.
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