Article 1 (Purpose) The purpose of this Ordinance is to prescribe matters necessary for the establishment and operation of the Seoul Business Agency, an incorporated foundation, (hereinafter referred to as the "Foundation") of the Seoul Metropolitan Government, to promote the industries in Seoul Metropolitan City and comprehensively and systematically fostering small and medium enterprises pursuant to the Small and Medium Enterprises Promotion Act, the Enforcement Decree of the same Act, the Local Autonomy Act, and the Civil Act. <Amended by Ordinance No. 6643, Sep. 21, 2017>
[This Article Wholly Amended by Ordinance No. 5675, Mar. 20, 2014]

Article 2 (Definitions) The terms used in this Article shall be defined as follows:
1. The term "small and medium enterprise" means an enterprise, as defined in Article 2 of the Framework Act on Small and Medium Enterprises, with its principal place of business in Seoul Metropolitan City (hereinafter referred to as the "City");
2. The term "specialized local industry" means an industry the Mayor of the Seoul Metropolitan Government (hereinafter referred to as the "Mayor") selects pursuant to Article 11 (1) of the Special Act on Balanced National Development to strategically foster in accordance with a regional development plan formulated by the Seoul Metropolitan Government pursuant to Article 7 of the same Act.
[This Article Wholly Amended by Ordinance No. 5675, Mar. 20, 2014]

Article 3 (Scope of Application) Except as provided in the Civil Act or any other statutes or regulations regarding the establishment, operation etc. of an incorporated foundation, this Ordinance shall apply to the establishment and operation of the Seoul Business Agency established as an incorporated foundation of the Seoul Metropolitan Government (hereinafter referred to as the "Foundation").
[This Article Wholly Amended by Ordinance No. 5675, Mar. 20, 2014]

Article 4 (Establishment) The Foundation shall be established as an incorporated foundation under the Civil Act. <Amended by Ordinance No. 6386, Jan. 5, 2017>

Article 5 (Business of Foundation) The Foundation shall conduct the following business affairs to promote the industry and to foster and support small and medium enterprises: <Amended by Ordinance No. 6643, Sep. 21, 2017>
1. Developing and operating infrastructure for promoting the industry;
2. Supporting the promotion, etc. of specialized local industries;
3. Providing information about the industry, finance, business management, international trade, technology, etc.;
4. Rendering assistance necessary for growth of small and medium enterprises, such as human resources, funds, and investments;
5. Assisting in developing domestic and overseas markets and developing brands of enterprises;
6. Assisting in activities for business startups at all stages;
7. Promoting technology for advanced industries, establishing infrastructure for convergence of industries and technologies, assisting in protecting intellectual property rights;
8. Assisting in fostering enterprises, including establishment and operation of business incubators;
9. Establishing, managing, and operating facilities for supporting small and medium enterprises;
10. Projects entrusted by the Mayor for fostering small and medium enterprises;
11. Other projects entrusted by the Government, an autonomous Gu of the City, any related institution or association, or any other entity for promoting small and medium enterprises.
[This Article Wholly Amended by Ordinance No. 5675, Mar. 20, 2014]

Article 6 (Articles of Association) (1) The Foundation's articles of association shall contain the following matters:
1. Objectives;
2. The name;
3. The seat of the office;
4. Provisions concerning assets and accounting;
5. Matters concerning the appointment and dismissal of directors;
6. Matters concerning the board of directors;
7. Matters concerning auditors and employees;
8. Matters concerning a fund;
9. Matters concerning public announcements;
10. Matters concerning business;
11. Matters concerning amendment to the articles of association.
(2) When the Foundation intends to amend the articles of association, it shall obtain approval thereof from the Mayor in advance. In such cases, the intended amendment shall be pre-reported to the competent Standing Committee of the Seoul Metropolitan Council. <Amended by Ordinance No. 5419, Dec. 31, 2012>

Article 7 (Executives Officers) (1) The Foundation shall have not more than 15 directors including one chairperson and one representative director and two auditors: Provided, That any gender shall not exceed 60/100 of the number of the board members. <Amended by Ordinance No. 6643, Sep. 21, 2017>
(2) The representative director, non-ex officio directors including the chairperson, and auditors shall be appointed by the Mayor. <Amended by Ordinance No. 6643, Sep. 21, 2017; Ordinance No. 7233, Jul 18, 2019>
(3) The term of office of an executive officer shall be three years and may be consecutively renewed on a three-year basis, and other matters regarding the appointment and dismissal of the representative director, directors, and auditors shall be prescribed by the articles of association. <Amended by Ordinance No. 6966, Jan. 3, 2019>
(4) Not more than two of the directors, excluding the representative director, and auditors shall be a standing executive officer and the others shall be non-standing. <Amended by Ordinance No. 7233, Jul. 18, 2019>

Article 8 (Board of Directors) (1) The board of directors shall be established to deliberate and resolve on important matters concerning conducting affairs of the Foundation.
(2) The chairperson shall call and preside over meetings of the board of directors and shall administer all business affairs of the board of directors; and if the chairperson is unable to perform his or her duties in unavoidable circumstances, the representative director shall act on behalf of the chairperson. <Amended by Ordinance No. 5675, Mar. 20, 2014>
(3) The board of directors shall pass resolutions with a majority of incumbent directors present; and with the concurring votes of a majority of the directors present.

Article 9 (Representative Director and Auditors) (1) The representative director shall represent the Foundation and shall administer all business affairs of the Foundation. <Amended by Ordinance No. 5675, Mar. 20, 2014>
(2) An auditor shall audit and inspect accounting and affairs of the Foundation; and may attend meetings of the board of directors and state his or her opinion there.

Article 10 (Employees) The representative director shall appoint and dismiss employees of the Foundation as prescribed by the articles of association.

Article 11 (Fund) A fund may be established in the Foundation to appropriate necessary money for the establishment, operation and business of the Foundation.

Article 12 (Contributions) (1) The Seoul Metropolitan Government may grant contributions to the Foundation, within the budget, or may contribute its property to the Foundation, to appropriate for expenses incurred in establishing the Foundation, installing and operating facilities, and conducting business affairs.
(2) Matters necessary for granting, using, and managing contributions under paragraph (1) shall be prescribed by rule of the Seoul Metropolitan Government.
[This Article Wholly Amended by Ordinance No. 5675, Mar. 20, 2014]

Article 13 (Operating Funds) Funds necessary for facilities, operation, and business affairs of the Foundation shall be appropriated with contributions of the Seoul Metropolitan Government, interest income from the management of funds, revenue from entrusted projects, revenue from business affairs of the Foundation, and other revenues. <Amended by Ordinance No. 6386, Jan. 5, 2017>

Article 14 (Business Year) The business year of the Foundation shall coincide with the fiscal year of general accounts of the Seoul Metropolitan Government. <Amended by Ordinance No. 4270, Mar. 17, 2005; Ordinance No. 6386, Jan. 5, 2017>

Article 15 (Submission of Business Plan) The Foundation shall prepare a business plan and budget of each business year as prescribed by rule of the Seoul Metropolitan Government; and shall obtain approval from the Mayor. The same shall also apply where it intends to revise them.

Article 16 (Submission of Statement of Accounts) The Foundation shall prepare a statement of accounts of revenue and expenditure of each business year, have the statement of accounts audited by a certified public accountant designated by the Mayor; and shall submit it to the Mayor not later than the end of March of the following year.

Article 17 (Entrustment of Tasks) (1) If the Mayor deems necessary for effectively supporting small and medium enterprises, he or she may entrust the Foundation with all or some tasks for supporting small and medium enterprises.
(2) Details about entrustment of tasks under paragraph (1) shall be stipulated by a separate agreement.
[This Article Wholly Amended by Ordinance No. 5675, Mar. 20, 2014]

Article 18 (Reporting and Inspection) If necessary, the Mayor may require the Foundation to report the status of its management and other necessary matters; or may authorize public officials of the Seoul Metropolitan Government to check and inspect business operations of the Foundation. <Amended by Ordinance No. 6386, Jan. 5, 2017>

Article 18-2 (Management Performance Evaluation) (1) When the Mayor deems necessary, he or she may evaluate management performance of the Foundation.
(2) The Mayor may recommend the Foundation to take necessary measures for efficiently managing the Foundation according to findings from evaluating the management performance under paragraph (1). <Amended by Ordinance No. 6386, Jan. 5, 2017>
(3) Matters necessary for the method, procedure, etc. for evaluating management performance under paragraph (1) shall be prescribed by rule of the Seoul Metropolitan Government. <Amended by Ordinance No. 6386, Jan. 5, 2017>
[This Article Newly Inserted by Ordinance No. 4270, Mar. 17, 2005]

Article 19 (Dispatch of Public Officials) The Mayor may dispatch public officials to the Foundation as prescribed by the related statutes or regulations to achieve the objectives for which the Foundation was established.

Article 20 (Rules) Matters necessary for the enforcement of this Ordinance shall be prescribed by rule of the Seoul Metropolitan Government.

ADDENDUM
This Ordinance shall enter into force on the date of its promulgation.
ADDENDA <Ordinance No. 4270, Mar. 17, 2005>
Article 1 (Enforcement Date)
This Ordinance shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDA <Ordinance No. 4410, Jul. 19, 2006>
Article 1 (Enforcement Date)
This Ordinance shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Ordinance No. 5419, Dec. 31, 2012>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDUM <Ordinance No. 5675, Mar. 20, 2014>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDUM <Ordinance 6386, Jan. 5, 2017>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDUM <Ordinance 6643, Sep. 21, 2017>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDUM <Ordinance No. 6966, Jan. 3, 2019>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDUM <Ordinance No. 7233, Jul. 18, 2019>
This Ordinance shall enter into force on the date of its promulgation.