1. Reason for Revision

The revision aims to reform the current mining system and promote the appropriate distribution of profits between the government and investment companies, and to improve and supplement the current system by establishing an institutional framework to mitigate investment risks for investment companies, and by clarifying the burden requirements and criteria for the holders of submarine mining concession rights by establishing detailed regulations on the burdens attached when granting mining concession rights.

2. Main Contents

A. Clarification of burden requirements and criteria for the holders of submarine mining concession rights, such as restoration allowances and special allowances (Newly established Article 7-2 and Attached Table 3).

B. Changes to the criteria for the imposition of mining fees and the revision of terms (Revised Attached Table 2 of Article 8 (1), Article 8 (3)).

C. Establishment of provisions that allow changes to and postponement of the mining fee payment period and installment payments (Revised Article 9 (1) to (3), newly established Article 9 (4) to (5)).