「TELECOMMUNICATIONS BUSINESS ACT」
(3) Any person in receipt of a corrective order under paragraph (2) shall correct the
violation within a specified period.
(4) Where a shareholder has acquired shares, in violation of Article 8 (1), the facilitiesbased telecommunications business operator may refuse to renew the register of
shareholders or register of members to record such excess portion.
Article 13 (Charges for Compelling Compliance) (1) The Minister of Science and ICT may
impose a charge for compelling compliance, on a person who has been subject to an
order issued under Article 10 (5), 12 (2), or 18 (8) (hereinafter referred to as "corrective
order") and fails to comply with such order within a specified period. In such cases, a
charge for compelling compliance leviable daily shall not be more than 3/1000 of the
purchase price of shares held by such person, but in cases not related with shareholding, it
shall not exceed 100 million won. <Amended on Mar. 23, 2013; Jul. 26, 2017>
(2) A period for which charges for compelling compliance are imposed pursuant to
paragraph (1) shall be from the date following the date the period prescribed by the
corrective order expires until the date the corrective order is complied with. In such cases,
charges for compelling compliance shall be imposed within 30 days from the date
following the date the period prescribed by the corrective order expires unless there is a
compelling reason not do so.
(3) Article 53 (5) and (7) shall apply mutatis mutandis to additional charges for compelling
compliance. <Amended on Oct. 15, 2014>
(4) Matters necessary for the imposition, payment, refund, etc. of charges for compelling
compliance shall be prescribed by Presidential Decree.
Article 14 (Issuance of Shares) Where a facilities-based telecommunications business operator
issues shares, such shares shall be registered.
Article 15 (Obligation to Commence Business) (1) A facilities-based telecommunications
business operator shall commence the relevant business within one year from the date of
registration (referring to the date a frequency is allocated if he or she intends to newly
operate the facilities-based telecommunications business, using the frequency allocated
under Article 10 of the Radio Waves Act). <Amended on Dec. 24, 2018>
(2) Where the Minister of Science and ICT deems that a facilities-based
telecommunications business operator is unable to start his or her business within the
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