Date: Wednesday, May 16, 2012
Time: 10:30~10:35
1. Preliminary Announcement on Legislation of the Amended ‘Inter-Korean Cooperation Fund Act’
The Ministry of Unification made a preliminarily announcement of the legislation of the revised 'Inter-Korean Cooperation Fund Act’. As the proposed amendment is unlikely to be passed by the end of May when the 18th National Assembly closes, the ministry has decided to resubmit the bill as a government legislation. The revised act will be submitted to the 19th National Assembly after undergoing amendment procedures by the government.
Major revised contents of the 'Inter-Korean Cooperation Fund Act' include:
- Expansion of the Inter-Korean Cooperation Fund's objective by supplementing clauses regarding comprehensive support on national integration upon unification of the Korean peninsula;
- Establishment of 'Unification Account' by separately categorizing the existing Inter-Korean Cooperation Fund into 'Inter-Korean Cooperation Account' and 'Unification Account';
- Establishment of related laws to raise fund through voluntary donations.
