Articles of Incorporation 

Chapter 1. General 

Article 1: Name

The name of the legally incorporated entity shall be “ United Nations Foundation for Peace and Prosperity of Korean Peninsula (hereafter “ Foundation ”) and its shortened name shall be “UNPeaceKor”  

Article 2: Location and Branches 

The main office of the Foundation shall be in Seoul, Republic of Korea and, if deemed necessary, may establish its branches in the local areas and overseas.   

Article 3: Purpose

The Foundation’s main purpose is to make the contributions toward the peace, prosperity and unification in the Korean peninsula. The Foundation intends to make such contributions by engaging itself and others in human, economic, social, environmental and other areas through civilian interaction, cooperation and partnership. Therefore, the Foundation will promote, foster and/or carry out the projects, programs and activities for people exchange, goods distribution and joint business on behalf of all Koreans and other people not only in Korean peninsula, but also throughout the world.   

Article 4: Projects, programs and/or business 

1. In order to accomplish the main purpose of Article 3, the Foundation will plan and implement the following projects, programs and/or business;

(A) Program of economic interactions and cooperation to establish the joint economic community among all Koreans.

(B) Project to conduct socio-cultural exchange and cooperation in such areas as the culture, tourism and sports that will help restore the common identity of all Koreans.

C) Project for the humanitarian assistance to DPRK and for the cooperation and support toward the development of DPRK.

D) Project for the united national consensus, opinion and/or stance for the peaceful unification in the Korean peninsula. 

E) Project for public promotion, publicity and education to prepare for peaceful unification.

F) Business for ecological and environmental protection and preservation in the Korean peninsula.

G) Program to carry out the research, academic conference, data collection, compilation and publication associated with the preceding projects.

H) Program to collect the information of worldwide Koreans who left DPRK and to establish the assistance strategy for their resettlement.  

I) Project to build the worldwide network of all Koreans.

2. The Foundation will carry out the following kinds of profit-oriented project, program and/or business if deemed necessary to accomplish Foundation’s objectives; 

(A) Projects for the peace, prosperity and unification of the Korean peninsula contracted with the international entities and organizations, the central, regional and/or local governments, the public organizations, the research institutions and the business firms of Republic of Korea.

(B) The civilian exchange project and international joint project. 

(C) Other revenue-generating projects that will be necessary to accomplish Foundation’s goals and objectives. 

3. The Foundation can establish the appropriate organizational structure and the corresponding positions to be approved by the Board of Directors.

Chapter Two: Members

Article 5: Composition of members

1. Those who pledge to agree to the Foundation’s goals and objectives in the Article 1 and go through certain process for membership can be the Foundation’s members. The members can be Koreans not only in Korea but in other countries,  any persons and organizations overseas.  

2. Those who wish to be members shall submit their applications to the Foundation for review and approval.

Article 6: Member’s rights

1. All members have the rights to select and be selected as the Foundation’s board of directors, attend the Foundation’s General Assembly meetings, provide their opinions for the Foundation’s activities and participate in the decision-making process. 

2. All members shall be provided with the information, data and materials of the Foundation and its publications, and may review and examine the information and data of the Foundation’s operation.                  

Article 7: The member’s duties

The members shall have the following duties;

1. All members shall honor and comply with the Articles of Incorporation and their rules and regulations of the Foundation. 

2. All members shall honor and comply with the decisions both by the General Assembly and the Board of Directors.

3. All members shall pay the initial membership and the annual membership fee. The details of such fees shall be decided and handled separately. 

Article 8: Withdrawal and cancellation of membership 

1. Any member can withdraw its membership voluntarily by submitting a withdrawal letter. 

2.  Any member can be removed from the Foundation’s membership by the decision of General Assembly when either a member injured the reputation and credibility of the Foundation or a member did not perform its duties over a year such that the Foundation faces the difficulties and hurdles to implement the goals and objectives. 

3. Any member who lost its membership either by withdrawal or removal from the membership can neither claim refunds of paid fees nor exercise member’s rights. 

Chapter 3: Board of Directors

Article 9: The class and number of Board of Directors

1. Chair: one member 

2. Vice Chair: few members

3. President of General Assembly: one member

4. Vice Presidents of General Assembly (within Korea and overseas): up to 30 members

5. The members of Board of Directors: more than 7 members but not more than 30 members.

6. Auditors: 2 members 

Article 10: Election of Board of Directors 

1. The President of General Assembly shall be elected by the General Assembly.

2. Other members of Board of Directors shall be elected by the General Assembly based on the recommendation by the Board of Directors.

Article 11: The term of the Board of Directors  

1. The term of Chair and Vice Chairs is two (2) years and can be extended. 

2. When a member of Board of Directors completed its normal term of two (2) years or is removed from the membership of Board of Directors, the replacement member shall be elected in due process within two (2) months of such occasion.   

Article 12: Removal of member

A member can be removed by the decision of General Assembly if a member committed to any of the following offensive activities;

1. Any activity detrimental to the purpose of the Foundation.

2. Dispute with other member, financial corruption and/or illegal activity.

3. Activity interfering with the Foundation’s business.

4. Activity degrading the status as a member.

Article 13: Reasons for disqualification 

A member can be disqualified if a member falls in one of the following cases; 

1. The case where a member is legally declared as being partially or fully incompetent.

2. The case where a member is declared as not yet fully recovered from its bankruptcy.

3. The case where a member is declared by a legal court or other body as disqualified or terminated.

Article 14: Honorary President, Honorary Chair, Special

Advisor and Advisor 

1. The Foundation may appoint Honorary President, Honorary Chair, Special Advisor and Advisor.

2. The appointment of such honorary positions shall be made by the General Assembly based on the recommendation by the Board of Directors. 

Article 15: The responsibilities of Chair, Vice Chair, President,

Vice President and members of Board of Directors 

1. Chair shall represent the Foundation and be responsible for the overall management and operations of the Foundation.

2. The Vice Chairs shall assist the Chair and one of the Vice Chairs designated by the Chair shall carry out the Chair’s responsibilities when the Chair is unable. 

3. The President shall represent the members of the Foundation and be the chairman of the General Assembly. 

4. The Vice Presidents shall assist the President and one of the Vice Presidents designated by the President shall carry out the President’s responsibilities if the President is unable.

5. The members of Board of Directors shall review and decide the matters that come to the Board of Directors. 

Article 16: The responsibilities of auditor

1. The auditor shall audit the financial and other managerial matters of the Foundation and report them to the General Assembly. 

2. The auditor shall report to the Board of Directors when and if the auditor finds any illegal, incorrect and/or inequitable aspects in the financial and other managerial matters.

3. The auditor may request the Chair to call a meeting of the Board of Directors if and when the auditor considers necessary to report such illegal, incorrect and/or inequitable aspects in the financial and other managerial matters. 

4. The auditor may attend the meetings of Board of Directors and address to the Board of Directors. 

5. The auditor shall be responsible to write its name and title, and sign or stamp its name and title on the official recordings of the meetings of General Assembly and Board of Directors.  

Chapter 4: General Assembly

Article 17: Organization

1. The General Assembly is the ultimate decision-making body of the Foundation and is composed of its members.

2. The President represents the General Assembly.   

Article 18: The class of General Assembly and call for its meeting

1. The meeting of General Assembly is classified either a regular or special meeting of General Assembly.

2. The President shall call for a regular meeting of General Assembly once a year.

3. The special meeting of General Assembly can be called on the following occasion;

(A) When the President considers it necessary.

(B) When the Board of Director decides it necessary.

(C) When one quarter of the members call for a meeting in writing.  

4. When the General Assembly meeting is called upon, the members shall be notified with a written notice containing the contents and agenda of meeting seven (7) days in advance of the meeting.  The notification of meeting to the members can also be made in the Foundation’s newsletter. 

Article 19: The items to be decided by General Assembly

The General Assembly shall decide the following items.

1. Revision of various rules and regulations.

2. Matters related to the dissolution of Foundation.

3. The election of the members of Board of Directors and the President, and the recommendation of Honorary President and Chair, Special Advisor and Advisor

4. The matters related to the approval of the business plan, budget and financial settlement.

5. The disposition and acquisition of main or basic properties.

6. The matters related to the debt loads and responsibilities.

7. The matters related to the agenda item that the member requested to be included in the meeting of the Board of Directors.  

Article 20: Opening of meeting and quorum

1. The meeting of General Assembly can open and be held by the attendance of more than 50 registered and fee-paying members, including those attendees delegated by the registered and fee-paying members. The decision of General Assembly shall be made by the simple majority votes.

2. The President shall decide the matter when and if the vote is tied.

Article 21: The records of the process and discussion contents of the General Assembly meeting shall be made and maintained in its official record books.

Chapter 5: Board of Directors 

Article 22: Composition of Board of Directors

Board of Directors is composed of Chair, Vice chairs and members. The Chair represents the Foundation and shall be elected from the membership of Board of Directors.

Article 23: Call of meeting and Quorum 

1. The Board of Directors shall meet in its regular meeting twice a year. However, the special meeting can be held when the Chair considers it necessary or when one third of members of Board of Directors request such a meeting. 

2. The Board meeting shall be held by the simple majority attendance of its members and the business decisions shall be made by the simple majority votes of the attendees.

3. The Chair shall decide the matter if the vote is tied.  

Article 24: The matters to be decided by the Board of Directors

The Board of Directors shall decide upon the following matters. 

1. The matters related to the meeting of General Assembly.

2. The agenda items called for the discussion at the meeting of General Assembly.

3. The matters delegated by the General Assembly.

4. The establishment, revision and closure of the staff positions.

5. The matters related to the recommendation of members of the Board of Directors.

6. The matters related to the acquisition, management and/or disposition of major properties.

7. The matters related to the major lawsuit and its settlement or reconciliation.

8. The matters related to various organizational structure and committees.

9. The matters related to the initial fee and annual fee of the members. 

10. Other matters considered important for the management and operation of the Foundation.

Article 25: Record keeping

The meetings of Board of Directors shall be duly recorded and maintained in its record books. 

Chapter 6: Finance

Article 26: Classification of resources

The Foundation will manage its finances based on the following resources and revenues;

1. The basic resources designated by the Board of Directors.

2. The member’s initial and annual fees and the donated funds.

3. The revenues generated and earned from the Foundation’s business operation.

4. The revenues earned from the Foundation’s resources.

5. Other revenues.

6. The amounts of donations and fees along with their uses shall be published annually in the Foundation’s web site. 

Article 27: Fiscal year

The Foundation’s fiscal year is from January 1 to December 31 of each year.

Article 28: Accounting Principle

The Foundation’s accounting system will follow the accounting standards, financial rules and regulations of business organizations. Other accounting details will follow the general accounting rules and regulations. 

Article 29: Donations

The donor can designate in advance its donated funds to be used for the specified project. 

Article 30: Debt load and other financial matters 

The Foundation’s taking on debts and forgiving of loans, in addition to its budget, shall be approved by the General Assembly.

Chapter 7: Administrative Offices

Article 31: Executive Committee  

1. The Foundation will establish an Executive Committee in order to administer its business affairs in accordance with the direction of Board of Directors.

2. The Secretary General will work for and serve this Executive Committee. 

Article 32: Secretary General and the staff

1. The Chair shall appoint a Secretary General out of the general membership.

2. The term of Secretary General shall be two (2) years and can be extended.

3. The Secretary General leads and supervises the staff under the direction of the Chair.

4. The Foundation will compensate for the services of Secretary General and the staff in accordance with the decisions of the Board of Directors.

Article 33: Various rules and regulations 

The matters related to the duties of, services by and compensation to the members of Executive Committee shall be made in a separate rules. 

Chapter 8: Complementary Clause

Article 34: Revision of Articles of Incorporation

The revision of the Articles of Incorporation shall be approved by two third (2/3) or more members of the General Assembly in its meeting when more than 50 members are in attendance. Furthermore, the revision shall obtain the approval of the Minister of Unification, Republic of Korea. 

Article 35: Dissolution

If the dissolution of the Foundation is sought, it shall obtain both the approval of the two third (2/3) or more of the registered members and the approval by the simple majority of members who attend the General Assembly meeting. 

Article 36: Handling of residual resources

If the Foundation is dissolved, its residual resources shall be given to the central, regional or local government or non-profit organization of similar purposes after obtaining the approval of the appropriate Ministry, Republic of Korea. 

Article 37: Method of public announcement

The Foundation’s public announcement shall be put on the daily newspapers published in Seoul, Republic of Korea. 

Supplementary Clause 

Article 1: Effective date

The Article of Incorporation shall be effective on the registration date at the Minister of Unification, Republic of Korea. 

Article 2: The process

 The decisions made to establish this Foundation by the founding members shall be considered as to have followed this Articles of Incorporation. 

Article 3: The founders’ writing of their names and their stamping or signing 

The founders hereby write their names and put down their name stamps and/or signatures in order to establish this Foundation. 

September 2, 2019, adopted by 24 founding members of Board of Directors

October 16, 2019: Approved by and registered with the Ministry of Unification, Republic of Korea:  October 16, 2019