(1) Where a corporate credit rating inquiry company (excluding corporate credit inquiry companies engaged only in the business affairs of corporate information inquiry; hereafter in paragraphs (2) and (3) the same shall apply) assesses the credit standing of an enterprise or corporation, it shall take into consideration information that can advantage the relevant enterprise or corporation in assessment as well as information that can disadvantage it.
(2) No corporate credit inquiry company shall engage in any of the following acts:
1. Generating corporate credit ratings and technology credit information related to persons prescribed by Presidential Decree, who are in a special relationship with the corporate credit inquiry company, such as an investment relationship of at least a certain ratio;
2. Compelling to purchase or use goods or services of the corporate credit inquiry company or its affiliates in the course of generating corporate credit ratings and technology credit information;
3. Other activities prescribed by Presidential Decree, which are likely to undermine the protection of credit data subjects or to disrupt the sound credit order.
(3) A corporate credit inquiry company shall establish internal control standards which are appropriate standards and procedures to be complied with by its executive officers or employees in performing their duties (hereinafter referred to as "internal control standards"), including the following:
1. Matters regarding the separation of an assessment organization and a sales organization;
2. Matters regarding the prevention of conflicts of interests;
3. Matters concerning prevention on unfair practices;
4. Matters regarding the criteria for the creation of corporate credit ratings or the criteria for technical credit ratings suitable for the characteristics of enterprises and corporations;
5. Other matters necessary for internal control standards, as prescribed by Presidential Decree.
(4) A corporate credit inquiry company engaged in the business affairs of corporate credit inquiry shall formulate regulations on the management of users, as prescribed by Presidential Decree, for the management of users of credit information.[This Article Added on Feb. 4, 2020]