(1) Each retirement pension trustee shall observe this Act and shall provide his or her services in good faith for the sake of participants.
(2) Each retirement pension trustee shall observe the terms and conditions of the contracts prescribed in Articles 28 (1) and 29 (1).
(3) No retirement pension trustee shall engage in any of the following acts without justifiable grounds:
1. Refusing to conclude a contract to provide operational management services under Article 28 (1);
2. Refusing to conclude a contract to provide asset management services under Article 29 (1);
3. Compelling a contract to be signed with a particular retirement pension trustee;
4. Any other act prescribed by Presidential Decree as likely to undermine the interests of an employer or participant.
(4) No retirement pension trustee providing operational management services shall engage in any of the following acts:
1. Bearing or promising to bear all or some of the losses suffered by a participant or an employer at the time of signing a contract;
2. Providing or promising to provide a participant or an employer with any extraordinary benefit prescribed by Presidential Decree, such as providing excessive supplementary services having economic value or bearing the expenses to be borne by a participant or an employer;
3. Using personal data such as the name and address of a participant beyond the extent necessary to perform duties related to the operation of the retirement pension plan;
4. Suggesting a particular operating method to a participant or an employer for the purpose of benefiting the retirement pension trustee himself/herself or a third person.
(5) Each retirement pension trustee operating individual retirement pension plans pursuant to Article 24 (1) shall provide the participants with training at least once every year on matters prescribed by Presidential Decree, such as the operating status of the retirement pension plan of the business concerned.
(6) Each retirement pension trustee shall submit details on the performance of retirement pension plans to the employers (excluding the performance of individual retirement pension plans), the Minister of Employment and Labor, and the Governor of the Financial Services Commission, as prescribed by Ordinance of the Ministry of Employment and Labor.
(7) Where any retirement pension trustee intends to establish or amend the terms and conditions or the standard contract relating to the signing of a contract pursuant to Article 28 (1) or 29 (1) (hereinafter referred to as "terms and conditions, etc."), he or she shall, in advance, report such establishment or amendment to the Governor of the Financial Services Commission: Provided, That where it is determined by the Financial Services Commission as having no adverse effect on the rights, interests and duties of employees or employers, he or she may report thereon to the Financial Services Commission within 10 days from such establishment or amendment of terms and conditions, etc.
(8) Each retirement pension trustee shall make public the rate of returns on reserves, commissions, etc. at the end of each year, as prescribed by the Financial Services Commission.