faolexa database of national legislation and international agreements concerning food and agriculture (including fisheries, forestry and water) maintained by the FAO Legal Office
Act on Credit Guarantees for Farmers and Fishermen.
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Countries: Korea, Republic of
Regions: Asia;North Pacific;North-West Pacific;East Asian Seas;Eastern Asia;ASIA AND THE PACIFIC
Date of original Text: 13/01/1971
Date of Consolidation: 19/05/2011
Implemented by: LEX-FAOC117232 Enforcement Decree of Act on the Credit Guarantee for Farmers and Fishermen, 1971. 19/08/2011
Related Web Site: www.moleg.go.kr
Type of Text: Legislation
Abstract: This Act contributes to the balanced economic development of farming and fishing communities by providing credit guarantees for farmers and fishermen who do not have enough ability to provide security and by enabling them to secure financing for agricultural, forestry and fishery industries.The Act provides for the establishment of a Credit Guarantee Commission for Farmers and Fishermen and of a credit guarantee fund. The National Agricultural Cooperative Federation shall take care of the operation of the fund and of business affairs concerning credit guarantees.
Comment: Consolidated version of Act No. 2277 of 13 January 1971 as amended last by Act No. 10686 of 19 May 2011.
Main subjects: Agriculture
Main subjects: Fisheries