Korean Law in English
Laws › Act on the Guarantee of Employees' Retirement Benefits › CHAPTER VI RETIREMENT PENSION TRUSTEES AND THEIR PERFORMANCE OF DUTIES

Act on the Guarantee of Employees' Retirement Benefits — Article 30 (Provision of Operational Management Services)

근로자퇴직급여 보장법 제30조

This English translation is based on the Korean text effective 2022-07-12. The Korean law has since been amended (current version effective 2026-09-18) — check the Korean original.

(1) Each retirement pension trustee shall fulfill his or her duty of due care as a good manager.

(2) Each retirement pension trustee shall suggest methods of operating reserves meeting the following requirements:

1. Information on the operating methods shall be readily obtainable and understandable;

2. It shall be easy to switch among the operating methods;

3. The methods of and procedures for evaluating the performance of operation of reserve shall be transparent;

4. In cases of defined contribution plans and individual retirement pension plans, at least one operating method guaranteeing the payment of principal and interest as prescribed by Presidential Decree shall be included;

5. They shall be in line with the operating methods and standards prescribed by Presidential Decree, such as diversified investment, to ensure the mid- and long-term stable operation of the reserves.

‹ Article 29-2All articlesArticle 31 ›

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