(1) Any person who intends to obtain permission for a credit information business, MyData business, or claims collection business shall meet the following requirements: <Amended on Feb. 4, 2020>
1. He or she shall have human resources and physical facilities, including computer equipment, sufficient to engage in a credit information business, MyData business, or claims collection business;1-2. Where a person intends to engage in a sole proprietor credit rating business: At least five billion won;1-3. Where a person intends to engage in a corporate credit inquiry business: At least the amount classified as follows for each business unit provided in the items of subparagraph 8-3 of Article 2:a. Business affairs of corporate information inquiry: 500 million won;b. Business affairs of providing corporate credit ratings: Two billion won;c. Business affairs of providing technology credit ratings: Two billion won;1-4. Where a person intends to engage in a MyData business: At least 500 million won;
2. He or she shall have reasonable and sound business plans;
3. Large shareholders shall have sufficient investment capacity, sound financial standing, and social credibility;3-2. His or her executive officers shall satisfy the requirements provided in Article 22(1) and (2), 22-8 or 27(1);
4. He or she shall have a sufficient level of expertise to perform a credit information business, MyData business, or claims collection business.
(2) Any person who intends to obtain permission to engage in a credit information business, MyData business, or claims collection business shall have capital or original properties in accordance with the following classifications: <Amended on May 28, 2013; Feb. 4, 2020>
1. He or she intends to engage in a personal credit rating business: At least five billion won; provided,, where he or she intends to engage only in a specialized personal credit rating business, his or her capital or original properties shall be at least the amounts assigned according to the following classifications;a. Where each of the following credit information providers or users intends to engage in a personal credit rating business which processes personal credit information on details of transactions collected or created in return for goods or service provided to a credit data subject: 2 billion won:1) A telecommunications business operator defined in the Telecommunications Business Act;2) The Korea Electric Power Corporation incorporated under the Korea Electric Power Corporation Act;3) The Korea Water Resources Corporation under the Korea Water Resources Corporation Act;4) A credit information provider or user similar to those provided in 1) through 3) and is prescribed by Presidential Decree;b. Where the person intends to operate a personal credit rating business that processes information other than personal credit information provided in item a: 500 million won;
2. Not more than five billion won, but not less than the amount prescribed by Presidential Decree, where he or she intends to engage in credit investigation business and claims collection business, separately or jointly.
(3) Matters necessary for detailed requirements for obtaining permission under paragraph (1) shall be prescribed by Presidential Decree.
(4) Credit information companies, MyData companies, and claims collection companies shall continue to satisfy the requirements set forth in paragraph (1)1 while conducting the relevant business. <Amended on Feb. 4, 2020>