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 CONSTITUTION
AND BY-LAWS |
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THE AMERICAN CHAMBER OF COMMERCE
IN KOREA |
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BY-LAWS |
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Section 1. APPLICATION FOR MEMBERSHIP
(a) A Candidate for membership shall submit a written and signed
membership application form to the Executive Vice President.
(b) The completed application form shall contain the name and
address of the applicant, the type of membership desired, the
nature of the applicant's business or activity, the nationality
of the proposed representative and statement of agreement to
be bound by the Constitution and the By-Laws of the Chamber
if elected, and such other information as the Executive Committee
may require.
(c) All application shall be reviewed by the Executive Vice
President and his recommendations shall be presented to the
Executive Committee at the next meeting of the Executive Committee
for action. |
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Section 2. MEMBERSHIP ELECTION
(a) Immediately after election to membership the applicant shall
be so informed by the Executive Vice President, shall be furnished
with a copy of the Constitution and the By-Laws of the Chamber
and shall be enrolled as a member.
(b) The Executive Vice President shall furnish each newly-elected
member with a certificate of membership of the appropriate classification
and each such certificate shall be duly signed and authenticated
by the President and the Executive Vice President. |
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Section 3. REPRESENTATION
(a) Designation of a COMPANY membership representative including
the voting representative shall be made to the Chamber in writing.
(b) In the event that a member desires to change any of its
representatives, a new, written application or written notice
shall be submitted to the Executive Vice President.
(c) A NON-RESIDENT member may appoint or change its representative
by written notice to the Executive Vice President.
(d) Change of the designation of the COMPANY membership voting
representative to another individual already accepted as a COMPANY
membership representative, shall be made by written notification
by the Company to the Executive Vice President. |
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Section 4. FEES AND DUES
(a) Each COMPANY or INDIVIDUAL membership shall upon notification
of election pay an entrance fee of W85,000. Annual dues, (as
hereinafter stated) and separate from entrance fee, are payable
in advance or for new members starting with the first calendar
quarter following election to membership. Schedule of dues shall
be published annually after establishment by the Board of Governors.
(b) SPECIAL COMPANY members pay no Initial fee and the annual
dues are the same as COMPANY members.
(c) SPECIAL members shall pay no entrance fee, and the annual
dues shall be payable in advance for each SPECIAL member, or
for new members starting with the calendar quarter in which
his membership application is approved.
(d) Company Associate members: Available to those individuals
whose COMPANY has a COMPANY or SPECIAL COMPANY membership.
(e) NON-RESIDENT memberships shall pay no entrance fee, but
shall pay dues in advance on an annual basis, or for new members
starting with the calendar quarter in which the application
for membership is approved.
(f) Fees and dues may be paid in US$ or the Won equivalent at
the commercial bank commission rate of exchange prevailing on
the date of payment. Dues will be paid in the first calendar
quarter and commencing 1 April interest will be changed on unpaid
dues at the current bank rate at the time period.
(g) Annual dues are calculated when joining the Chamber by using
the following formula and the dues schedule in
(h) below. Dues will be recalculated annually or as called for.
1. Enter appropriate figures on local and parent company in
space provided:
Local Company
* Assets/Sales
Banks - Korean Exposure
Liason Offices - Indent Sales
Sales/Construction Contracts
Total
A. **Assessment - Local Company (TABLE H)
Parent Company Name:
* Assets/Sales
B. ** Assessment - Parent Company (TABLE H)
2. DUES COMPUTATIONS
TOTAL A + B = W______ /2 = W______. = *** DUES FOR 20__.
B. ** Assessment - Parent Company (TABLE H)
3. Example: Name Of Membership: XYZ Company
Local Company
* Assets/Sales W30
billion
A. ** Assessment - Local Co. W1,000,000
Parent Company Name: Neversink, Inc.
* Assets/Sales $1 billion
B. ** Assessment - Parent Co. W1,400,000
TOTAL (A)W1,000,000 + (B)W1,400,000 = W2,400,000/2
= W1,200,000 DUES FOR 20__.
Signature:_____________________
(voting member)
* Whichever is greater
** Obtained from tables
*** Minimum dues for Company membership is W350,000
(h) TABLES FOR COMPUTATION OF DUES
Local Company Assessment
Size
Assets or Sales W40 billion or above W1,400,000
Assets or Sales from W20 to W40 billion W1,000,000
Assets or Sales from W 8 to W20 billion W 765,000
Assets or Sales from W 4 to W 8 billion W 350,000
Assets or Sales less than W 4 billion W 0
Parent Company Assessment
Size
Assets or Sales $1 billion or above W1,400,000
Assets or Sales from $500 million to $1 billion W1,000,000
Assets or Sales from $100 million to $500 million W 765,000
Others W 350,000 |
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Section 5. REMISSION OF DUES
The Board of Governors, in its discretion, may temporarily waive
the dues of any member. |
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Section 6. NOMINATION PROCEDURES
(a) Nominating Committee
(1) The President shall be appoint a Nominating Committee of
five voting members of the Chamber among whom one shall be a
member of the Board of Governors, one or more shall be chairman
of standing committees, and the remainder shall be selected
from other voting members of the Chamber. Vacancies can be filled
throughout the year as required. The President shall designate
one member of the Nominating Committee to be Chairman.
(2) The President shall select as members of the Nominating
Committee persons who do not intend to run for office insofar
as he can reasonably determine such intention.
(3) The Nominating Committee will function throughout the year
at the call of the Board of Governors, and will in any case
meet not later than October to select slates of Nominees for
Officers and Governors for the Annual Election.
(4) Other provision of the Constitution and the By-Laws notwithstanding,
a quorum of this Committee shall consist of not less than four
of the members and each member shall have one vote.
(b) Selection of Candidates
(1) Prior to the first meeting of the nominating committee,
the Governors may submit a list of recommendations to the Chairman
of the Nominating Committee. The Executive Vice President shall
furnish the chairman a list of the number of governors required
to fill current vacancies, proportion for each category, and
vacancies created by expiration of the term of office of serving
governors. Normally, candidates for officer positions shall
have served for at least six months as governors prior to taking
office. The nine governor positions will be allocated to governors
in proportion to the number of voting members in the Chamber
in the following categories: Financial Trading Pharmaceutical
and other Service Industrial Transportation/Tourism
(2) The number of companies and individuals in each category
will be divided by the total voting membership and the resulting
percentage will be multiplied by nine. Example below: Total
Co's Total Membership % Total BOG Proportion BOG Membership
Financial 39 252 .155 x 9 1.35 =1
Trading 61 252 .242 x 9 2.17 =2
Pharmaceutical and other 24 252 .09 x 9 .85 =1
Service 50 252 .19 x 9 1.78 =2
Industrial 55 252 .218 x 9 1.9 =2
Trans / Tourism 23 252 .09 x 9 0.82 =1
Leading Customers for Overseas Investment
Total =252 Total =9
fractions above four will be rounded off to the next highest
figure. If the total is more than nine governors, highest percentage(s)
over 4 will be used in descending order.
(3) Candidates will be selected by the nominating committee
for all vacancies and for standby governors where no vacancies
are anticipated. Replacement governors for unanticipated vacancies
may be selected from the standby list.
(c) Report by the Nominating Committee
(1) The report of the Nominating Committee for the Annual Election
of Officers and Board members shall include a multiple slate
of Nominees and must be presented to the Board prior to the
regular meetings of the Chamber to be held on or before October
30 each year.
(2) Reports of the Nominating Committee for the purpose of naming
candidates to be balloted upon to fill interim vacancies during
the Chamber year shall be made at such meetings as may be directed
by the President.
(3) Whenever the Nominating Committee is called upon to recommend
nominees to fill any vacancy, it shall follow a policy of recommending
more than one nominee for each position to be filled.
(d) Written Nomination Written nominations for Officers and
members of the Board of Governors, when signed by a proposer
and seconder who are COMPANY membership voting representatives
or INDIVIDUAL members, shall be submitted to the Executive Vice
President of the Chamber prior to any meeting at which a report
of the Nominating Committee is to be received. Such nominations
shall be read to the membership at the meeting after presentation
of the Nominating Committee's report.
(e) Nominations from the Floor After presentation of the Nominating
Committee's report and the reading of any written nominations,
the Presiding Officer shall call for additional nominations
from the floor for each elective category. Such nominations
must be duly made and seconded by COMPANY membership voting
representatives or INDIVIDUAL members before being recorded
in the minutes of the meeting.
(f) Consent of Nominee
(1) All written nominations must be accompanied by a written
agreement by the nominee that he will serve if elected.
(2) Nominations from the floor require verbal agreement given
from the floor by the nominee personally at the meeting, or
alternatively by a written statement of the nominee that he
will serve if elected. |
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Section 7. ELECTION PROCEDURES
(a) An Election Supervision Committee shall be appointed by
the President of Presiding Officer at the Chamber meeting, at
which nominations for the Annual Election have been received,
to supervise the conduct and the mailing and delivery, the receipt,
the checking of the validity of the returned ballots, the counting
of the ballots, and to certify the results of the Annual Election
to the Honorary President, or other appropriate officer, at
the Annual Meeting. This Committee shall be composed of five
voting members in good standing, none of whom shall be a candidate
for the election, and shall include at least one member of the
Board of Governors.
(b) An Election Supervision Committee, similarly composed, shall
be appointed by the Presiding Officer at any Chamber meetings
at which nominations are received for the purpose of filling
vacancies for Officers or members of the Board of Governors
during the Chamber year, and shall exercise the same duties
as listed in sub-paragraph (a) above for the Annual election,
except that the results of a by-election shall be certified
to the President or the Presiding Officer.
(c) The Annual Election of Officers and members of the Board
of Governors shall be scheduled by the Election Supervision
Committee after the Chamber meeting at which nominations have
been received, in order to provide ample time for the preparation
and distribution of ballots to voting members. The Election
Supervision Committee shall specify the closing date and hour
for receipt of returned ballots, which in no case shall be less
than 15 days after the mailing of the ballots to the members.
(d) The election of Officers and members of the Board of Governors
shall be by secret ballot of the qualified voting members, whose
dues are paid in full at least for the calendar quarter preceding
that in which the election is held. No member shall cast more
than one vote, except as proxy for another member.
(e) The Election Supervision Committee shall prepare and mail
to each qualified COMPANY membership voting representative and
to each INDIVIDUAL membership one (1) ballot, setting forth
the names of each candidate who has been duly nominated. With
each ballot shall be sent two (2) envelopes; one (1) shall be
a special form of sealed inner envelope, without name, number
or address, in which the ballot, when completed by the voter,
shall be inserted and sealed; the second, or outer, envelope,
addressed for return to the Election Supervision Committee,
shall have a special form on which the voter shall place his
signature. Ballots thus filled out, sealed, identified, and
duly mailed or delivered to the executive officer of the Chamber,
shall be received by the Election Supervision Committee until
the closing date and hour, as previously specified.
(f) The ballots thus received by the Election Supervision Committee
shall first be checked for their validity with the roster of
authorized voting members and accepted proxy forms. Thus, each
outer envelope received envelopes deposited in a sealed ballot
box, which shall, with such clerical assistance as they deem
necessary, proceed to open the inner sealed envelopes and to
tally the ballots therein contained.
(g) The Election Supervision Committee will prepare a certified
record of the balloting, with a list of the nominees elected
as Officers and members of the Board of Governors to be presented
to the Honorary President or other appropriate Officer at the
Annual Meeting. The certified record of the balloting shall
be kept in the Chamber's office for at least six months. Upon
presenting the certified list of elected nominees to the Presiding
Officer at the Annual Meeting, the Election Supervision Committee
shall be discharged from further duties. |
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 table
of contents |
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Section 8. EXECUTIVE VICE PRESIDENT
(a) The Executive Vice President shall devote his entire working
time to the affairs of the Chamber except as otherwise approved
as authorized by the President. He shall serve as the administrative
officer in change of Chamber affairs.
(b) The Executive Vice President shall be responsible for the
care and use of Chamber property, and the Chamber seal. He shall
have supervision and direction f the Chamber staff, and shall
provide clerical assistance, as available, for Chamber projects.
He shall attend to the representation, publicity work, and other
external activities of the Chamber, providing direction and
assistance for projects and objectives of the Chamber and its
committees, as approved and authorized by the President or the
Board of Governors.
(c) The Executive Vice President shall, in cooperation with
the elected Treasurer, be responsible for keeping the Chamber
accounts and financial records, attend to collection of all
fees, dues, and assessments, and provide proper accounting and
disbursement of Chamber funds. As and when directed by the President
he shall sign with the Treasurer, or other authorized Board
of Governors, all vouchers and checks and be responsible for
payments and expenditures from Chamber funds.
(d) The Executive Vice President shall be responsible for keeping
the minutes and records of business meetings of the Chamber,
of the Board of Governors, and those submitted by the Standing
and Special Committees. He shall attend to correspondence of
the Chamber, give due notice of and coordinate all meetings
of the Chamber, of the Board of Governors and the Committees,
subject to the direction of the President and the Board of Governors.
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Section 9. ASSISTANT TO THE EXECUTIVE
VICE PRESIDENT
When employed by the Board of Governors, the Assistant to the
Executive Vice President shall have the following responsibilities
and functions:
(a) The Assistant shall familiarize himself with all the functions
assigned to the Executive Vice President per Section 8, By-Laws
of the American Chamber of Commerce in Korea, and shall be prepared
to assist the Executive Vice President in their execution. In
the absence of the Executive Vice President, the Assistant shall
assume all necessary responsibilities to insure the continuity
of Chamber operations and the Execution of all functions assigned
to the Executive Vice President.
(b) The Assistant shall assist in all internal operations of
Chamber offices with specific attention to the following areas:
(1) Correspondence - Promptly answer and process routine trade
inquiries, information requests, etc.
(2) Business Information - Initiate and conduct on an on-going
basis information gathering and reporting on matters affecting
the American business community as directed by the Executive
Vice President; seek out and develop information as required
to provide reasonably informed responses to inquiries.
(3) Publishing - Assist in preparation and follow through in
publication of the bi-monthly JOURNAL, Cost-of-Living Survey,
Newsletter information bulletins, etc.
(4) Meeting/Chamber Affairs - Assist the Executive Vice President
in all arrangements as necessary for monthly luncheons, briefing
breakfasts, etc. Meet with and provide information to visitors
in the Executive Vice President's absence.
(5) The Assistant shall assume such other functions and responsibilities
as directed. |
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Section 10. CHAMBER EMPLOYEES
In addition to the employment of the Executive Vice President,
the Board of Governors may employ such other persons as in its
opinion are necessary for the proper conduct of Chamber business.
It shall determine the salaries and remunerations of all persons
employed by the Chamber. |
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Section 11. ELECTION TO MEMBERSHIP
The Executive Committee shall act upon all applications for
membership, including transfers of COMPANY membership voting
representatives, in the Chamber, and upon any resignations therefrom,
unless otherwise delegated to the Executive Vice President.
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Section 12. STANDING SPECIAL COMMITTEES
(a) The Chamber may have such standing and/or special committees
as may be decided by the Board of Governors. The Chairmen of
such committees shall be appointed by the President with the
advice and consent of the Bard of Governors, and said Chairmen
shall select the Vice Chairman and members of each such Standing
or Special Committee.
(b) Meetings of Standing and/or Special Committees shall be
convened at the call of the Chairmen. |
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top |
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We can now accept membership applications
on-line. Invoices are sent out after your membership... |
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