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Laws › Act on the Guarantee of Employees' Retirement Benefits › CHAPTER VIII SUPPLEMENTARY PROVISIONS

Act on the Guarantee of Employees' Retirement Benefits — Article 42 (Entrustment and Delegation of Authority)

근로자퇴직급여 보장법 제42조

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) Part of the authority of the Minister of Employment and Labor under this Act may be entrusted to the Financial Services Commission, the Governor of the Financial Supervisory Service, or the COMWEL (limited to the duties of support, recovery, and collection of the amount to be recovered specified in Article 23-14, and the duties specified in the subparagraphs of Article 34 (2)), or may be delegated to the head of a regional employment and labor office, as prescribed by Presidential Decree. <Amended on Apr. 13, 2021>

(2) The authority of the Financial Services Commission under this Act may partially be entrusted to the Governor of the Financial Supervisory Service, as prescribed by Presidential Decree.

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