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Untitled Document
REGULATIONS ON THE NAMING OF FOREIGN-INVESTED ENTERPRISES

Adopted by Decision No. 21 of the Cabinet on March 13, 1999

Article 1. These regulations are formulated to establish order in naming foreign-invested enterprises incorporated in the territory of the DPRK.
Article 2. Names of foreign-invested enterprises shall include that of a joint venture, equity or contractual, as well as that of a wholly foreign-owned enterprise.
A resident representative office of a foreign enterprise (hereinafter called the resident representative office) may also be named in accordance with these regulations.
Article 3. The approval of the naming of foreign-invested enterprises shall be undertaken by the body that screens the establishment of the enterprises (hereinafter called the screening body).
Article 4. Any foreign-invested enterprise shall be entitled to only one name.
Where a foreign-invested enterprise is engaged in two or more different business activities, it may possess two names, subject to the approval of the screening body. But it, by no means, signifies recognition of two different enterprises.
Article 5. The name of a foreign-invested enterprise shall include the following:
1. Trade name indicative of either the name of the investor or the name of a place,
2. Principal content of business activities/line of business
3. Type of business, and
4. Limit of liability of the enterprise.
Article 6. Any resident representative office shall be named by prefixing the name of the patent company to its trade name.
Article 7. The name of a foreign-invested enterprise shall be expressed in Korean language.
Where the name of a foreign-invested enterprise is to be given in a foreign language, it shall be so expressed as to be equivalent to the Korean version
Article 8. Any foreign-invested enterprise shall be prohibited from possessing any such names as:
That may undermine the sound life-style of the State and society,
That may overlap or be confused with that of any another enterprise,
That is made up with numerals,
That is apt to deceive or mislead the public opinion,
That is identical with that of another country or region,
That is identical with that of any political or military organization or any international agency, or
That is identical with that of any enterprise whose business registration was cancelled only less than a year ago.
Article 9. The name of any foreign-invested enterprise shall become legally effective from the date of its business registration, and thereafter, the enterprise shall reserve the right to exclusive use of the name within the territory of the DPRK.
Article 10. The name of a foreign-invested enterprise appearing on official document, a seal, bank account, signboard, postal matter, etc., shall be identical with that already registered with the screening body. Any abbreviation may be used for signboards of shops, restaurants and other agencies in the service sector, in which case an approval shall be obtained from the screening body thereof.
Article 11. Where a foreign-invested enterprise intends to change its name, an approval shall be secured from the screening body thereof.
Except for a special case, the name of any foreign-invested enterprise shall not be changed within the period of 1 year from the date of its registration.
Article 12. A foreign-invested enterprise may transfer its name to any other business entity along with its property, in which case an approval shall be obtained from the screening body thereof.
Any business name shall be transferable only to one business entity and the transferor shall not use the name so transferred to such other entity.
Article 13. Where the right to exclusive use of business name is encroached upon, a foreign-invested enterprise concerned shall be entitled to request the screening body to apply appropriate remedies for recovery of the right.
Article 14. If a foreign-invested enterprise contravenes any of these regulations, it shall bear administrative penalties such as confiscation of illegal gains, fine, suspension of operation and seizure of the certificate of business registration to the extent of the breach, and criminal punishment in case of severe violation.
Article 15. Where grievance is harboured against any activity relating to the naming of a foreign-invested enterprise, an appeal may be filed.
Any such appeal shall be settled within 30 days from its receipt.


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