Busan Metropolitan City Ordinance on the Establishment and Management of the Busan Economic Promotion Foundation
- Article 1(Purpose)
- The purpose of this Ordinance is to prescribe necessary matters on the support of the establishment and operation of the Busan Incorporated Foundation for Economic Promotion pursuant to Article 32 of the Civil Act and Article 63 of the Presidential Decree of the Balanced Regional Development and Support for Local Small and Medium Enterprises Act to provide comprehensive and systemic support to local enterprises located in the Busan Metropolitan City, and to foster the improvement of business environment and the competitiveness of local enterprises.
- Article 2(Scope of Application)
- Matters relevant to the establishment and management of the Busan Economic Promotion ((hereinafter referred to as the “Foundation) which are not regulated in this Ordinance shall comply with the Civil Law.
- Article 3(Business)
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The Foundation shall conduct the business activities of the following subparagraphs;
- 1. Counseling for the business bottleneck and supporting for prompt settlement of local enterprises through the business supporting activity;
- 2. Economic trend and current issue analysis, providing up-to-date domestic and international economic information and planning various economic measures for the current economic issues;
- 3. Finance supporting such as recommendations for fostering local enterprise funds;
- 4. Supporting for domestic marketing of local goods;
- 5. Supporting for opening foreign markets by local enterprises and export;
- 6. Providing management consulting, technical development, informational education and various information on industry, finance and business administration;
- 7. Supporting small commercial and industrial businessmen and traditional marketplace;
- 8. Supporting knowledge economy industry;
- 9. Supporting the promoting business for the shoe industry of Busan area;
- 10. Providing convenience by bundling business supporting organizations and making cooperation system;
- 11. Other business stipulated in the bylaw designed to fulfill the purpose of the Foundation.
- Article 4(Officers, etc.)
- Necessary matters regarding the officers and operation of the Foundation shall be fixed in the bylaw.
- Article 5(Contributions, etc.)
- The Mayor may provide contribution or subsidy within the limit of the budget in order to support the establishment and management of the Foundation pursuant to the Local Finance Act and the Presidential Decree of the Balanced Regional Development and Support for Local Small and Medium Enterprises Act
- Article 6(Submission of Work Plan, etc) (1)The Foundation shall submit a work plan and a budget for each business year to the Mayor by 3 months before the start of each business year.
- (2)The Foundation shall submit a result report of business and a statement of accounts to the Mayor within two months after the end of each business year. In this case, the statement of accounts shall be submitted with a report of current business status, a list of property and an audit report.
- Article 7(Report and Inspection) (1)The Mayor may make the Foundation submit documents related to the business operation or make the related public officers examine the operation, accounts and property of the Foundation.
- (2)The Mayor may order the Foundation to correct or take other necessary measures if there were unlawful or unjust cases in the result of examination prescribed in Paragraph 1.
- Article 8(Dispatch of Public Official)
- The Mayor may dispatch public officials to the Foundation pursuant to the Local Public Officials Act for the effect business operation of the Foundation.
