(1) Reasons for Proposal

As the Act on the Promotion of Venture Investment (Act No. 16998; promulgated on February 11, 2020; to be enforced on August 12, 2020) was legislated to lay the investment foundation for entrepreneurs, small and medium enterprises, and startups and promote the venture investment industry comprehensively and systematically, these Regulations aim to define matters delegated by the Act for the registration and management of a venture investment fund and other matters necessary for the enforcement thereof.

(2) Major Provisions

A. Define the registration requirements of a venture investment fund (Article 4)

B. Specify the investment obligations of a venture investment fund (Article 7)

C. Define the requirements of an investment-purpose company (Article 8)

D. Specify restricted acts and exemptions therefrom (Articles 9 through 10) 

E. Create specific standards for administrative measures (Article 15)

F. Define the establishment and operation of the Disciplinary Review Committee to review administrative measures (Articles 16 through 18)