(1) Article 5 of the Act on Corporate Governance of Financial Companies shall apply mutatis mutandis to the executive officers of personal credit rating companies, sole proprietor credit rating companies, and corporate credit inquiry companies.
(2) No credit inquiry company shall appoint or hire any of the following persons as its executive officers or employees:
1. A minor; provided, cases where he or she is appointed or hired for operations determined and publicly notified by the Financial Services Commission shall be excluded;
2. A person under adult guardianship or person under limited guardianship;
3. A person who has yet to be reinstated after having been declared bankrupt;
4. A person in whose case three years have not elapsed since the completion of, or exemption from, a sentence of imprisonment without labor, or heavier punishment, as so declared by a court (including cases where such execution is deemed to have been completed);
5. A person who is under a suspended sentence of imprisonment without labor or a heavier punishment as declared by a court;
6. A person who has been dismissed or discharged from office under this Act or other statutes or regulations, and for whom five years have not since passed;
7. A person who had worked as an executive officer or employee of a corporation or company, the business permission, authorization, etc. of which was revoked under this Act or other statutes or regulations, and for whom five years have not passed after such revocation (applicable only to a person prescribed by Presidential Decree, who is directly responsible for the grounds for such revocation or who is in the position equivalent thereto);
8. A person who is a retired executive officer or employee and is notified that he or she would have received a measure of recommendation of dismissal (including demand for dismissal) or demand for removal from office pursuant to this Act or other statutes if he or she held his or her official position or were under employment, and for whom five years (seven years from the date of his or her retirement where the date on which five years has passed from the date of notification is later than the date on which seven years have passed from the date of his or her retirement) have not yet passed from the date of such notification.[This Article Wholly Amended on Feb. 4, 2020]