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Laws › Foreign Exchange Transactions Act › CHAPTER V SUPPLEMENTARY PROVISIONS

Foreign Exchange Transactions Act — Article 23 (Delegation and Entrustment of Authority)

외국환거래법 제23조

This English translation is based on the Korean text effective 2021-09-16. The Korean law has since been amended (current version effective 2026-01-02) — check the Korean original.

(1) The Minister of Economy and Finance may, pursuant to Presidential Decree, delegate or entrust part of his or her authority under this Act to the Financial Services Commission, the Securities Futures Commission, the heads of the administrative agencies concerned, the Governor of the Bank of Korea, the Governor of the Financial Supervisory Service, the heads of foreign exchange agencies, etc., or other persons prescribed by Presidential Decree.

(2) Any person in charge of the business prescribed in paragraph (1) and Article 20 (6), and any executive officer or employee under his or her control (excluding a public official, and a person who is deemed to be a public official by other Acts), shall be deemed a public official in the application of the penal provisions under the Criminal Act or other Acts.[This Article Wholly Amended on Jan. 30, 2009]

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