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Ordinance on the Establishment of Busan Transportation Corporation

By Railway & Logistics Division 2018. 2. 6 734  Views
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Ordinance on the Establishment of Busan Transportation Corporation

  • Article 1 (Purpose)
  • The purpose of this Ordinance is to establish Busan Transportation Corporation (hereinafter referred to as the "Public Corporation") under Article 49 of the Local Public Enterprises Act (hereinafter referred to as the "Act") and to promote the convenience and welfare of citizens through the expansion and effective operation of public transportation for smooth traffic flow in Busan Metropolitan City.
  • Article 2(Definitions)
  • The definitions of terms used in this Ordinance are as follows.
    • 1. "Busan Traffic Region" refers to Busan Metropolitan City (hereinafter referred to as the "City") and the area designated and announced as the same life sphere of traffic with the City under Article 4 of the Urban Traffic Readjustment Promotion Act.
    • 2. "Urban Railroad" refers to the transportation infrastructure and method stipulated in Article 3, Subparagraph 3 of the Urban Railroad Act
    • 3. "Public Transportation Infrastructure" refers to the facilities or structures stipulated in Article 2, Subparagraph 3 of the Act on the Fosterage and Promotion of Public Transportation.
  • Article 3(Business)
  • The Public Corporation shall conduct the following businesses
    • 1. Construction and operation of urban railroads
    • 2. Development of railway station's sphere of influence stipulated in Article 4-5 of the Urban Railroad Act
    • 3. Establishment and management of parking lots stipulated in Article 12-3 and Article 13 of the Parking Lot Act
    • 4. Passenger Transport Service pursuant to the Passenger Transport Service Act that does not overlap with the current bus service routes of the existing bus transport service company. In this case, the Public Corporation shall follow standards of the Local Shuttle Bus ("Maul Bus") Transport Service.
    • 5. Establishment and operation of the transfer facilities for changing transportation measures and related businesses for improving public transportation system.
    • 6. Businesses relevant to the electronic payment system that is used for collecting urban railroad fares.
    • 7. Businesses prescribed in the bylaw of the Public Corporation including profit-making businesses that are conducted to improve business accounts of the Public Corporation
    • 8. Businesses entrusted by the State or local government
  • Article 4(Capital)
  • The entire amount of the authorized capital of the Public Corporation which amounts to KRW 7,200 Billion shall be invested either in cash or in kind.
  • Article 5(Officers)(1) Officers of the Public Corporation shall consist of directors (including the president) and auditors. The number of officers shall be fixed in the bylaw of the Public Corporation and there shall be no more than 15 directors.
  • (2) The president and auditors shall be appointed and dismissed by the Mayor of Busan Metropolitan City(hereinafter referred to as the "Mayor"). The president shall be appointed among those who have been recommended pursuant to the Busan Metropolitan City Ordinance on the Organization and Management of Public Corporation President Recommendation Committee
  • (3) Directors are classified into standing directors and non-standing directors. The number of standing directors shall not exceed four and non-standing directors shall be either ex officio directors or appointed directors. The qualifications for non-standing directors shall be stipulated in the bylaw of the Public Corporation.
  • (4) Directors shall be appointed and dismissed by the president after obtaining approval from the Mayor. However, this shall not apply to ex officio non-standing directors.
  • (5) Officersshall hold office for 3 years and the consecutive appointment may be permitted, while the terms of ex officio non-standing directors shall be the period which they hold their official positions.
  • (6) A pertinent director prescribed in the bylaw shall act on behalf of the president when the president becomes vacant or he/she inevitably can not perform his/her duties
  • Article 6(Limitations to the Representation of Officers)
  • The president or the director that acts on behalf of the president can not represent the Public Corporation when the interest of the Public Corporation runs counter to the interest of the president or the director that acts on behalf of the president. The auditor shall represent the Public Corporation in the case when no other directors to represent the Public Corporation.
  • Article 7(Board of Directors)(1) The president shall convoke the board of directors and become the chairman. Yet the auditor shall convoke the board of directors and become the chairman in the case where matters deal with the position of the president.
  • (2) The resolution of a meeting of the board of directors shall require the attendance of a majority of all the incumbent directors and the consent of a majority of those present
  • (3) The auditor may attend the board of directors and state his/her opinion.
  • Article 8(Limitations to the Participation in the Board of Directors)
  • Officers of the Public Corporation may not participate in the deliberation process of matters that are related to either his/her own interest or the interest of his/her relatives. However, this shall not apply when general management matters are discussed.
  • Article 9(Prohibition of Divulgence of Classified Information, etc.)
  • Current or previous officers and employees shall not reveal or use classified information which have been obtained during the process of performing their official duties.
  • Article 10(Fare)(1) The Price Policy Committee of Busan Metropolitan City prescribed in the Busan Metropolitan City Ordinance on the Establishment and Management of the Price Policy Committee shall carry out the functions of the Fare Adjustment Committee stipulated in Article 19-2 of the Enforcement Decree of the Urban Railroad Act.
  • (2) The Public Corporation may collect additional feesfrom passengers who use the urban railroad service without proper railroad passes pursuant to Article 10, Paragraph 1 of the Railroad Business Act
  • (3) The Public Corporation may enact its own regulation regarding the railroad fare, procedure and process of collecting additional fees, and other necessary matters.
  • Article 11(Loan)The Public Corporation may have a loan with a maturity of no longer than 2 years with the approval of the Mayor
  • (2) The Public Corporation may temporarily borrow money if the hard cash flow is short when it is to expend within the budget limit. The line of credit shall be arranged by the budget in this case.
  • (3) Temporary loan made under Paragraph 2 shall be redeemed within the same year.
  • (4) The Mayormay guarantee the redemption of the principal and interest of the loan made under Paragraph 1.
  • Article 12(Expense Distribution of Agency Business)(1) In the case where the Public Corporation carries out the businesses on behalf of either the State or the local government, the State and local government shall bear the following expenses pursuant to Article 71, Paragraph 2 of the Act.
    • 1. Expenses pursuant to Article 63, Paragraph 2 of the Enforcement Decree of the Local Public Enterprises Act(Hereinafter referred to as the "Decree")
    • 2. The balance between the average supply price and the actual supply price of goods which are supplied for either free or less than the average supply price for the public purpose of the State or the local government.
  • (2) The Public Corporation shall consult with the pertinent central administrative agency or the local government on matters regarding the expense distribution pursuant to regulations stipulated in Paragraph 1, Subparagraph 2.
  • Article 13(Gratuitous Use of Property)(1) The Mayor may use the property of the Public Corporation when necessary without compensation.
  • (2) The Mayor may lend public property(including goods) to the Public Corporation or allow the Public Corporation to either use or benefit from public property without compensation. However, this is not applicable when the Public Corporation uses the public property solely for its own benefits and not for a public use or a direct use for public service.
  • Article 14(Entrustment of Redemption Business of Principal and Interest of Debt)
  • The Mayor may entrust the redemption business of the principal and interest of the debt of (Former) Busan Transportation Corporation which the State and the City acquired to the Public Corporation pursuant to Addenda Article 4 and 7 of the Act on the Repeal of the (Former) Busan Transportation Corporation Act.
  • Article 15(Providing Official Seal of the Mayor)
  • The Public Corporation may use or be provided with the official seal pursuant to the "Busan Metropolitan City Ordinanceon Official Seal" with the approval of the Mayor when necessary for doing businesses relevant to the redemption of principal and interest pursuant to Article 14.
  • Article 16(Fine for Negligence)(1) The Mayor shall impose and collect fines on those who have either unjustly refused or interfered in the process of examination conducted by the Mayor pursuant to Article 74 of the Act.
  • Article 82 of the Act and Article 79 of the Decree shall apply mutatis mutandis with respect to the fines stipulated in Paragraph 1. The Mayor shall be regarded as the Minister of Government Administration and Home Affairs of Article 79 of the Decree and the procedures of collecting the fine shall follow the precedent of collecting local tax.
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