Article 49-6 (Penal Provisions)

Any person who violates Article 29-3 (6) (including cases applied mutatis mutandis pursuant to Articles 48-2 (8) 3 and 48-3 (6) 3) shall be punished by imprisonment with labor for not more than five years or by a fine not exceeding 30 million won. In such cases, imprisonment and a fine may be imposed concurrently.

[This Article Newly Inserted on Dec. 30, 2009]

[Moved from Article 49-4]

Article 49-7 (Joint Penal Provision)

If the representative of a corporation or an agent, a servant or any other employee of a corporation or an individual commit any offence under Article 49-4 in connection with the affairs of the corporation or individual, the offender shall be punished accordingly, and the corporation or individual shall also be punished by fine as prescribed by the corresponding provision. Provided, that this shall not apply when such corporation or individual has not neglected to supervise the business concerned with due care to prevent such offense.

Article 50 (Fines for Negligence)

Any of the following persons shall be subject to an administrative fine not exceeding three million won:

1. A person who fails to report insurance relationship under Article 11 (including cases applied mutatis mutandis pursuant to Articles 48-2 (8) 1 and 48-3 (6) 1), change of insurance relationship under Article 12 (including cases applied mutatis mutandis pursuant to Articles 48-2 (8) 1 and 48-3 (6) 1), the total amount of remuneration, etc. under Article 16-10, the estimated insurance premium under Article 17, or the finalized insurance premium under Article 19, or makes a false report thereof;

2. A person who refuses to provide financial transaction information without good cause, upon receipt of a request for the provision thereof under Article 29-3 (1) (including cases applied mutatis mutandis under Articles 48-2 (8) 3 and 48-3 (6) 3);

3. A person who fails to make a report or makes a false report, or fails to submit relevant documents or submits false documents in response to a request made pursuant to Article 44 (including cases applied mutatis mutandis under Articles 48-2 (8) 4 and 48-3 (6) 4) or Article 48-4 (5) 1;

4. A person who makes a false reply to questions referred to in Article 45 (1) (including cases applicable mutatis mutandis pursuant to Article 48-2 (8) 4) and Article 48-4 (5) 2, or refuses, interferes with, or evades an investigation conducted under the same paragraph.

(2) A person who fails to keep the books or other documents referred to in Article 36, or makes false entries therein, shall be subject to an administrative fine not exceeding 500 thousand won;

(3) An administrative fine referred to in paragraph (1) or (2) shall be imposed and collected by the Minister of Employment and Labor, as prescribed by Presidential Decree.

[This Article Wholly Amended on Dec. 30, 2009]

Enforcement Ordinance