Meta Data
Title in national language: 
광업법
Draft: 
No
Revision of previous policy?: 
No
Draft Year: 
2007
Effective Start Year: 
2017
Scope: 
National
Document Type: 
Act
Economic Sector: 
Energy
Energy Types: 
Coal, Oil, Gas
Issued by: 
Ministry of Trade, Industry & Energy
Overall Summary: 
The purpose of this Act is to prescribe a basic framework for the mining industry to promote the development of national industries through the rational exploitation of mineral resources. Note: The term "minerals" includes coal, petroleum (including natural pitch and inflammable natural gas). This Act amends previous Acts.
Pricing
Fossil fuel subsidies: 
The Minister of Knowledge Economy may provide the following support, for the purpose of developing the mining industry, within the limits of the budget [...] 1. Subsidies or loans for operations of exploring and developing important mineral resources, and processing, distributing and reserving mineral products; [...] 3. Subsidies or loans for operations aimed at preventing mining damages and restoring mines (including closed mines); 4. Contributions to operations related to surveying the national geological features or mineral resources and of technological development relevant to the mineral resources.
Energy taxation: 
For purposes of stabilization of demand, supply and price of minerals, and support of projects [...] the Minister of Knowledge Economy may collect charges from those who import or sell minerals.---The persons from whom the charges [...] are to be collected, the criteria for imposition and method of collection of the charges, and other matters necessary for imposition and collection of the charges, shall be determined by Presidential Decree.
Energy pricing: 
For purposes of stabilization of demand, supply and price of minerals, and support of projects [...] the Minister of Knowledge Economy may collect charges from those who import or sell minerals.---The persons from whom the charges [...] are to be collected, the criteria for imposition and method of collection of the charges, and other matters necessary for imposition and collection of the charges, shall be determined by Presidential Decree.