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National Assembly Legislation

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  • Subsidy Management Act
    • Competent Ministry : Ministry of Economy and Finance
    • Advance Publication of Legislation : 2020-09-22
    • Opinion Submission Deadline : 2020-10-06
Reasons for Proposal

To strongly respond to the fraudulent receipt of subsidies, this Amendment aims to exclude fraudulent recipients from subsidy programs or restrict the payment of subsidies within a period not exceeding five years under Presidential Decree, and exclude contractors involved in the fraudulent receipt from subsidy programs within the period not exceeding five years. 

Details

A. Exclude subsidy program operators or indirect subsidy program operators who receive fraudulent subsidies from subsidy programs or indirect subsidy programs for the period not exceeding five years under the Presidential Decree from the date on which the fraudulent payment is confirmed (Article 31-2 (1))

B. Exclude subsidy recipients who receive fraudulent subsidies from the payment of subsidies or indirect subsidies for the period not exceeding five years as prescribed by Presidential Decree from the date on which the fraudulent payment is confirmed (Article 31-2 (2))

C. Exclude any person found guilty of obtaining property profits through false or other dishonest means in the process of making a bid or winning a bid, or the conclusion or performance of a contract related to a subsidy program or indirect subsidy program from those subject to subsidy programs or indirect subsidy programs for the period not exceeding five years under Presidential Decree from the date on which the judgment is finalized (Article 31-2 (3) newly inserted)

D. In cases where it is inappropriate to restrict the payment of subsidies due to their nature, such as support programs for low-income groups, etc., allow the non-application of the restriction on the payment of subsidies (Article 31-2 (5) newly inserted)


Major Provisions

Article 31-3


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