ACT ON EMPLOYMENT PROMOTION AND VOCATIONAL REHABILITATION FOR DISABLED PERSONS [See entire ACT]

CHAPTER Ⅴ Employment Promotion and Vocational Rehabilitation Fund for Disabled Persons

Article 68 (Establishment of Employment Promotion and Vocational Rehabilitation Fund for Disabled Persons)

The Minister of Employment and Labor shall establish the Employment Promotion and Vocational Rehabilitation Fund for Disabled Persons (hereinafter referred as the “Fund”) in order to carry out the business for the employment promotion and vocational rehabilitation of disabled persons, such as running the Agency, granting employment subsidies, etc.

Article 69 (Financial Resources of Fund)

(1) The Fund shall be created with the following financial resources:
1. Contributions or donations from the government or any nongovernmental entity;
2. Contributory charges, additional charges and arrears under Articles 33 and 35;
3. Earnings accrued from the operation of the Fund, and other revenues of the Agency;
4. Loans borrowed under Article 57;and
5. Loans borrowed under Article 70.
(2) The government shall appropriate the contributions under paragraph (1) 1 for its estimated budget of expenditures each fiscal year.

Enforcement Ordinance

Article 65 (Government Contributions)

(1) If the government intends to contribute to the Employment Promotion and Vocational Rehabilitation Fund for Disabled Persons (hereinafter referred to as the “Fund”) under Article 68 of the Act or to pay from the Fund the expenses required for the Agency to perform its business pursuant to Article 69 (1) 1 and subparagraph 1 of Article 71 of the Act, the Minister of Employment and Labor shall make that contribution or payment by reflecting it in the budget or the Fund management plan under Article 70.
(2) The Minister of Employment and Labor shall, if the budget or fund management plan under paragraph (1) is confirmed, notify the Agency of such confirmation.
(3) If the Agency intends to receive the expenses required to perform its business, it shall submit to the Minister of Employment and Labor an application for payment of business expenses along with a quarterly business plan and a quarterly budget execution plan.
(4) Upon receipt of an application under paragraph (3), if the quarterly business plan and quarterly budget execution plan are deemed reasonable, the Minister of Employment and Labor shall pay the expenses required for the Agency to perform its business accordingly.

Enforcement Ordinance

Article 66 (Contributions, etc. from Persons Other Than Government)

If a person other than the government intends to make any contribution or donation pursuant to Article 69 (1) 1 of the Act, the Minister of Employment and Labor may determine the method, etc. of contribution or donation in consultation with the person.

Article 70 (Borrowings)

In the event that the Fund is or is expected to be short of money for disbursement, it may borrow a loan from a financial institution, another fund, or any other financial source on its own account.

Article 71 (Use of Fund)

The Fund shall be used for the payment of expenses specified in each of the following subparagraphs:
1. Contributions made to the Agency;
2. Employment subsides under Article 30;
3. Expenses required for surveys and research on policies for the employment promotion and vocational rehabilitation of disabled persons;
4. Loans and subsidies for the expenses required for the installation and repair of facilities and equipments for the vocational guidance, vocational adaptation training, vocational skills development training, job placement or employment of disabled persons;
5. Loans and subsidies for the expenses, apparatus, etc. of employers who employ or intend to employ disabled persons;
6. Loans and subsidies for the expenses required by employers who establish and operate or intend to establish and operate a standard workplace for disabled persons;
7. Loans and subsidies for the expenses required by persons who carry out vocational guidance, job placement and post-employment adaptation guidance;
8. Training expenses and allowances for persons who carry out vocational adaptation training and vocational skills development training for disabled persons, and for the relevant disabled persons;
9. Loans to self-employed disabled persons for starting up business, and leasing a place of business, and loans to disabled workers for the stabilization of working life, etc.;
10. Expenses required for placing counsellors for working life of disabled persons to assist employers in the employment management of disabled workers;
11. Repayment of the loans borrowed under Article 70 and interest thereon;
12. Subsidization of the difference in interest on loans that disabled persons, employers, etc., borrow from financial institutions under this Act;
13. Rewards under Article 32;and
14. Other expenses required for the business prescribed by the Presidential Decree for the employment promotion and vocational rehabilitation of disabled persons, and expenses incidental to the implementation of the business set forth in subparagraphs 1 through 10.

Enforcement Ordinance

Article 67 (Usage of Fund)

Pursuant to subparagraph 14 of Article 71, the Fund may cover costs and expenses for the following subparagraphs:
1. Supportive employment projects under Article 18;
2. Management and operation of the Fund;and
3. Projects delegated to the Governors of Cities and Provinces or entrusted to the Agency under Article 82 of the Act.

Article 72 (Operation and Management of Fund)

(1) The Fund shall be operated and managed by the Minister of Employment and Labor.
(2) The fiscal year of the Fund shall coincide with the government’s fiscal year.
(3) The Fund shall be managed to make its profits reach or exceed the level prescribed by the Presidential Decree, and the Fund shall be operated by any of the following methods:
1. Deposits in banks or postal service agencies under the Banking Act or other Acts;
2. Purchase of bonds issued by the State or local governments;
3. Purchase of bonds whose payment is guaranteed by banks under the Banking Act or other Acts, or by any other person prescribed by the Presidential Decree;
4. Deposits in the Public Fund Management Fund under the Public Fund Management Fund Act;and
5. Other methods prescribed by the Presidential Decree.

Article 73 (Accounting Agency of Fund)

(1) The Minister of Employment and Labor shall appoint the fund revenue collection officer, the fund financial officer, the fund disbursing officer and the fund accounting officer to carry out business affairs pertaining to the revenues and expenditures of the Fund, from among public officials under his/her control.
(2) If the Minister of Employment and Labor entrusts the Agency with his/her duties under Article 82, he/she shall appoint a director in charge of fund revenues and a director in charge of actions incurring fund expenditures from among the permanent directors of the Agency, and a fund disbursing employee and a fund accounting employee from among employees of the Agency, respectively. In this case, the director in charge of fund revenues shall perform the duties of the fund revenue collection officer, the director in charge of actions incurring fund expenditures shall perform the duties of the fund financial officer, the fund disbursing employee shall perform the duties of the fund disbursing officer, and the fund accounting employee shall perform the duties of the fund accounting officer, respectively.

Article 74 (Creation of Fund Account)

The Minister of Employment and Labor shall have the Fund disbursing officer open the Fund’s account in the Bank of Korea.

Article 74-2 (Designation of Officials in Charge of Support for Disabled Persons, etc.)

(1) The heads of the agencies specified in the subparagraphs of Article 27 (6) shall designate an official to be in charge of supporting persons with disabilities out of the public officials under his/her control in order to efficiently assist public officials and workers with disabilities in performing their duties, etc. at the agency concerned. In such cases, an agency which has designated an official to be in charge of policies for persons with disabilities pursuant to Article 12 (1) of the Act on Welfare of Persons with Disabilities shall be deemed to have designated an official to be in charge of supporting persons with disabilities.
(2) Matters necessary for the designation, duties, etc. of an official to be in charge of supporting persons with disabilities referred to in paragraph (1) shall be prescribed by the National Assembly Regulations, the Supreme Court Regulations, the Constitutional Court Regulations, the National Election Commission Regulations, or Presidential Decree.
<This Article Newly Inserted by Act No. 14500, Dec. 27, 2016>

Enforcement Ordinance

Article 68 (Entrustment of Fund Payments)

The Minister of Employment and Labor may entrust any financial institution or postal service agency under the Banking Act or other relevant Acts and subordinate statutes to perform duties concerning the provision of loans, support or subsidies by the Fund.

Enforcement Ordinance

Article 69 (Operation and Management of Fund)

(1) The accounting of the Fund shall be based on generally accepted accounting principles.
(2) Any surplus left after the settlement of the Fund may be put into reserves of the Fund.
(3) Matters necessary for the management of the reserves or amount left after expenditures shall be determined by the Minister of Employment and Labor.
(4) “The level prescribed by the Presidential Decree” in Article 72 (3) of the Act means the rate of return determined by the Minister of Employment and Labor in consideration of interest rates on 1-year fixed deposits in banks with nationwide operations, among banks authorized under the Banking Act.
(5) “Any other person prescribed by the Presidential Decree” in Article 72 (3) 3 of the Act means State or a local government.
(6) The term “methods determined by Presidential Decree” in Article 72 paragraph (3) subparagraph 5 of the Act means the purchase of beneficiary certificates as prescribed in Article 4 paragraph (5) of the Financial Investment Services and Capital Markets Act.

Enforcement Ordinance

Article 70 (Fund Management Plan)

(1) The Minister of Employment and Labor shall establish a fund management plan containing the following matters:
1. Matters concerning revenue and expenditure of the Fund;
2. Matters concerning the business plan, plan on actions incurring expenditures and funding plan of the relevant year;
3. Matters concerning the handling of the balance carried forward from the previous year;
4. Matters concerning fund reserves;and
5. Other matters necessary for the management of the Fund.
(2) When a fund management plan under paragraph (1) is drawn up, the quarterly plan on actions incurring expenditures and monthly funding plan shall be determined in consultation with the Minister of Strategy and Finance. The same shall apply to cases where any modification is made to such plans.

Enforcement Ordinance

Article 71 (Fund Management Assistants)

The Minister of Employment and Labor may, if deemed necessary for the effective management of the Fund, assign fund management assistants to aid the accounting agency of the Fund under Article 73 of the Act.

Enforcement Ordinance

Article 72 (Fund Account)

The Minister of Employment and Labor shall establish an Employment Promotion and Vocational Rehabilitation Fund Account for Disabled Persons (hereinafter referred to as the “Fund Account”) in the Bank of Korea in which the revenues of the Fund is separated from the expenditures thereof in order to clarify the revenues and expenditures of the Fund.

Enforcement Ordinance

Article 73 (Procedure for Receipt of Fund Revenues)

(1) If the fund revenue collection officer intends to collect fund revenues, he/she shall notify the person responsible for the payment to make such payments into the Fund Account.
(2) Upon receiving fund revenues, the Bank of Korea shall issue a receipt to the payer and send, without delay, a notice of receipt to the fund revenue collection officer.
(3) The Bank of Korea shall place the fund revenues received pursuant to paragraph (2) in the Fund Account established in its principal office in accordance with the procedure for handling national funds.

Enforcement Ordinance

Article 74 (Procedure for Fund Expenditure)

(1) If the fund financial officer has taken an action incurring expenditures, he/she shall send documents related to such action to the fund disbursing officer.
(2) If, after the fund financial officer has taken an action incurring expenditures, any amount is left undisbursed in the relevant fiscal year for an inevitable reason, it may be carried forward to the following fiscal year and then be disbursed.

Enforcement Ordinance

Article 75 (Assignment of Limit on Amount Subject to Actions Incurring Expenditures)

(1) The Minister of Employment and Labor shall assign a quarterly limit on the amount subject to actions incurring expenditures to each fund financial officer within the scope of the quarterly plan on actions incurring expenditures under Article 70.
(2) When a quarterly limit on the amount subject to actions incurring expenditures is assigned pursuant to paragraph (1), the Minister of Employment and Labor shall notify the fund financial officer concerned and the Minister of Strategy and Finance of such limit.
(3) The fund financial officer shall be prohibited from taking an action incurring expenditures in excess of the limit assigned pursuant to paragraph (1).

Enforcement Ordinance

Article 76 (Assignment of Fund Expenditure Limit)

(1) The Minister of Employment and Labor shall assign a monthly expenditure limit to each fund disbursing officer within the scope of the monthly funding plan under Article 70.
(2) When a monthly expenditure limit is assigned pursuant to paragraph (1), the Minister of Employment and Labor shall notify the Governor of the Bank of Korea of such limit.

Enforcement Ordinance

Article 77 (Report of Fund Management Status)

The Minister of Employment and Labor may determine the matters to be reported with respect to the management and operation of the Fund.

Enforcement Ordinance

Article 78 (Report of Fund Settlements)

The Minister of Employment and Labor shall draft an annual report on Fund settlements, to which the following documents regarding settlements of the Fund are attached, and file the report with the Minister of Strategy and Finance no later than 60 days following the end of the fiscal year of the Fund.
1. General status of the Fund;
2. Overview of settlements;
3. A comparison of the fund management plan and its actual results;
4. Statement of revenues and expenditures;
5. Statement of loan status;
6. Statement of property status;and
7. Statement of the annual status of financial resources provided to the Fund.

Enforcement Ordinance

Article 79 (Application Mutatis Mutandis of Other Acts and Subordinate Statutes)

With regard to the operation and management of the Fund, Acts and subordinate statutes concerning budget and accounting shall apply mutatis mutandis to matters not provided for in the Act and this Decree.

Enforcement Ordinance

Article 79-2 (Designation of Officials in Charge of Support for Persons with Disabilities and Their Tasks)

(1) Officials in charge of support for persons with disabilities as prescribed in Article 74-2 paragraph (1) shall be designated by the head of the institution falling under each subparagraph of Article 27 paragraph (6) of the Act of those in charge of the tasks relevant to each subparagraph of paragraph (2).
(2) The task of officials designated as prescribed by paragraph (1) shall be as follows:
1. Discussion and management of assistance services provided for civil servants and other workers with disabilities;
2. Creation and improvement of stable working environments for civil servants and other workers with disabilities;
3. Support with adaptation to tasks assigned to civil servants and other workers with disabilities;
4. Execution of education to improve awareness of persons with disabilities as prescribed by Article 5-2 of this Act and Article 25 of the Act on Welfare of Persons with Disabilities;
5. Other tasks determined by the Minister of Employment and Labor for the improvement of rights for persons with disabilities.

For further questions, please
call (+82) 2-539-0098 or email bongsoo@k-labor.com

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