(1) Reasons for Proposal

This Amendment aims to set forth the details such as the types of liability insurances for damages, the scope of advertisements, etc. subject to insurance subscription, and the standards for imposing fines, etc. delegated by the Presidential Decree under Article 10-4 of the Act on the Management of Outdoor Advertisements, Etc. and Promotion of Outdoor Advertising Industry so as to rapidly and effectively remedy damage to the body, life, and property of the public caused by advertisements, and to extend the pilot period for advertisements using electric signs such as those used for taxi sign lights so as to completely verify their impact on the urban landscape and the living environment of the people, thereby building a development model, and to modify the attached forms in line with the processing period for permission, declaration, etc. set out under the law. 

(2) Major Provisions

A. Follow-up measures to the mandatory subscription of liability insurance for outdoor advertisements (Article 7, Article 44, Article 44-2, Article 45, Article 47, Table 8, Form 1, and Form 7)

1) Set the type of liability insurance for damages as the liability insurance for damages for outdoor advertisements or the one with the same content thereto, set those required to subscribe as outdoor advertisements and billboards (excluding posters and leaflets), prescribe the compensation limit for death or injury as the amount under Article 3 (1) and (2) in the “Enforcement Decree of the Guarantee of Automobile Accident Act,” and set the amount to 30 million won per accident caused property damage. 

(2) Mandate the attachment when a person intends to obtain permission or file a declaration for the documents demonstrating insurance subscription, when a person intends to register an outdoor advertising business, or when a person intend to register a modification or reopen, and if a person has not subscribed to a liability insurance when they intend to register an outdoor advertising business, ensure that the market, etc., are not subject to registration. 

3) Set the standards for imposing administrative fines such as 100,000 won for the period not exceeding 30 days during which no liability insurance is subscribed to, 100,000 won or more up to 700,000 won for the said period exceeding 30 days but less than 90 days, and 900,000 won or more up to 5million won for the said period exceeding 90 days. 

B. Extension of the Trial Display Period of Advertisements Using Electric Light on Taxi Sign Lights (Article 19-2)

Extend the trial display period for advertisements using electric light in taxi sign lights by 3 years from the previous June 30, 2021 to June 30, 2024. 

C. Modify the attached form according to the provisions in the period for processing permits and declarations under the law (Form 1)

Due to the introduction of the permission and declaration consideration scheme, modify the processing period of the Form 1 from 7 days to 10 days for permission, 3 to 5 days for declaration, and 20 days for advertisements subject to review in line with the permission and declaration processing period set out under the law.