Mining Law, Law No. 04/97/NA.

The Mining Law comprises: Chapter I, General provisions; Chapter II, Basic geological survey and preservation of mineral resources; Chapter III, Distribution of mineral resource areas; Chapter IV, Commercial mineral operation; Chapter V, Rights and obligations of mining businesses; Chapter VI, Mining activities managing and controlling agencies; Chapter VII, Arbitration, awards and sanctions; Chapter VIII, Final provisions; The Mining Law rpovides for the management, preservation, exploration, exploitation and processing of minerals to be locally used or exported.All mineral resources are property of the national community but mining actibvities and operations in mining areas shall be licensed to korean nationals and also to foreign individuals or companies in order to benefit of a socio economic development for the whole nation. Every prospector must abide to the korean regulations to prevent or abate environmental damages.