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Adopted on 9 of Jun 1989
1st revision on 30 of Nov 1991
2nd revision on 13 of Jun 1992
3rd revision on 5 of Nov 1999
4th revision on 21 of March 2001
5th revision on 9 of Jun 2006
6th revision on 11 of Jun 2010
Article 1. Association Name
The name of the association shall be “Hanguk Geumyoong Hakhoe” in Korean and Korea Money and Finance Association in
English (the “Association”).
Article 2. Purposes
The purposes of the Association shall be to engage in conducting research exchanges, promoting the advancements of
financial research, contributing to the development of the financial industry and to promote friendship among its members.
Article 3. Business Activities
The Association shall engage in the business activities that meet the purposes of the Association including publication of
academic journals and the hosting of academic symposiums.
Article 4. Location of the Association Office
The Association shall have its office in Seoul, Korea. The Association may establish local charters within or outside of Korea
when it is deemed necessary.
Article 5. Membership
(1) Individual members are those who are described in the following items and who have paid the required membership fees.
(i)
 Individuals who are specializing in monetary economics, international finance, financial institutions, insurance,
securities or corporate finance and are holding a lecturer post or higher status in a college or are researchers at
research institutes with equivalent work experiences
(ii)
 Individuals who the Board of Directors considers having equivalent qualifications described in the item (i) above.
(2) Institution members are the organizations involved in the finance sector and they are divided into general and permanent
institution members. Permanent institution members refer to the organizations that have paid the membership fees required
for permanent institution membership.
Article 6. Organizational Unit and the Management
The Association shall have the following organizational units and managerial staff.

(1) General Meeting of Members
(2) Auditors
(3) Board of Directors
(4) President
(5) The next President
(6) Vice President
(7) Office Administrators
(8) Editorial Board
(9) Fund Committee
Article 7. General Meeting of Members
(1) The general meetings of members shall decide on the key issues fundamental to Association activities.
(2) Regular general meetings of members shall be held once a year, while extraordinary general meeting of members may
be convened at the request of one-fourth (1/4) of the total membership in accordance with the resolution of the Board of
Directors. The total membership refers to both individual members and institution member representatives. The same
applies to the following Articles.
(3) The general meeting of members will be deemed valid with the attendance of one-third (1/3) of the total membership,
provided that a member who cannot attend the general meeting of members can delegate his or her right to attendance
and resolution to other members.
(4) The concurrence by a majority of the members present shall be necessary for decisions of the General Meeting.
Article 8. Auditor
(1) Auditors may audit the affairs of the Association and attend and speak at a Board of Directors’ meeting, which enables
t hem to make an audit report at regular general meetings of members.
(2) There shall be two auditors.
(3) Auditors shall be appointed by approximately five selection members who are elected by mutual vote among the members
of the Association at the general meeting of the Association, and the appointment shall be approved at the general meeting
(4) Terms of office for auditors shall be two years.
Article 9. Board of Directors
(1) The Board of Directors shall formulate business plans and budget, and deliberate and decide on other major issues regarding the management of the Association.
(2) The Board of Directors shall consist of the President, the next President, Vice President, Office Administrators, and the
Head of the Editorial Board who shall concurrently be the members of the Board of Directors and 25 or less other general
directors.
(3) A meeting of the Board of Directors shall be deemed valid with the attendance of two-thirds (2/3) of the total directors
and the concurrence of a majority of the Directors present shall be necessary for decisions of the Board of Directors.
(4) The General Directors shall be appointed by the President and the appointment shall be approved by the General Meeting
of Members. The appointment of those who shall concurrently be the members of the Board of Directors shall be subject
to the requirements set forth in these Articles of Incorporation.
(5) Terms of office for directors shall be two years. However, terms of office for one-half (1/2) of the first directors shall be
three years. The directors with three-year terms shall be decided in accordance with the above paragraph
(4) at the general meeting of members.
Article 10. President
(1) The President shall represent the Association and serve as the Chairperson of the General Meeting of Members and
the Board of Directors.
(2) The Association shall have a President.
(3) Upon the completion of the terms of office, the position of President shall be automatically succeeded by the next President,
provided that the first President shall follow the procedure for election of the next President set forth in Article 11 paragraph
(3).
(4) Terms of office for the President are one year, provided that the terms of the first and second Presidents of the Association
shall be two years and one and a half year respectively.
Article 11. The next President
(1) The next President shall become a member of the Board of Directors and shall succeed the President at a general
meeting of members when his or her term expires.
(2) The Association shall have one next President.
(3) The next President shall be the one who wins approval from more than half of the members casting a post vote.
This shall be done bearing in mind that the candidate is recommended by the Board of Directors from among individual
members and with the participation of more than half of the total members in the post vote. Note that a member may
also vote for a candidate that is not recommended by the Board of Directors.
Article 12. Vice President
(1) The Vice President shall assist the President and become a member of the Board of Directors
(2) The Association shall have approximately four Vice Presidents
(3) The Vice President is appointed by the Board of Directors from among the individual members that are recommended by
the President as a candidate President.
(4) Terms of office for the Vice President are one year. The terms of office for the first Vice President are two years.
Article 13. Office Administrators
(1) The Office Administrators shall collectively administer and deal with the affairs of the Association.
(2) The Office Administrators shall become part of the Board of Directors
(3) The Office Administrators shall be appointed by the Board of Directors on the recommendation of the President, and
their term of the office shall be defined by the Board of Directors.
(4) The Office Administrators shall have two staff members to assist with them and they shall be appointed by the Presiden
14. 편집위원회
(1) The Editorial Board shall be in charge of editing academic journals and other publications issued by the Association.
(2) The Head, Deputy Head, and staff members of the Editorial Board are appointed by the Board of Directors and their terms
of office are also decided by the Board of Directors, provided that the Board of Directors may transfer its right to appoint
and to decide on the terms of office for the Deputy Head and staff members of the Editorial Board to the Head of the
Editorial Board.
(3) The Head of the Editorial Board shall sit on the Board of Directors.
(4) Other matters pertinent to the operation of the Editorial Board shall be decided separately by the Board of Directors.
Article 15. Fund Committee
(1) The Fund Committee shall manage the funds of the Association.
(2) The Fund Committee shall be composed of former Presidents of the Association.
(3) The Chairperson of the Fund Committee shall be the immediate preceding President of the Association.

 

Article 16. Finance
(1) The Association shall collect membership fees decided on by the Board of Directors from its members
(2) The Association shall be able to receive financial support from outside if deemed necessary for the execution
of the Association’s business and the President shall report the details of it to the Board of Directors.
Article 17. Fiscal Year
The fiscal year of the Association begins on the 1 of July and ends on 30 of Jun of the following year.
Article 18. Other
(1) Matters not set forth in these Articles of Corporation shall be subject to the decision of the Board of Directors.
(2) Amendment to these Articles of Corporation shall be decided at the General Meeting of Members.
# Addendum - Effective Date
1. These Articles of Corporation shall go in to effect from 9 of Jun 1989.
2. These Articles of Corporation shall become effective from the date of approval.