Articles of Incorporation: Korea Traditional Archery Culture Society (KTACS)

Chapter 1: General Provisions

Article 1 (Name) The name of this corporation shall be the "Korea Traditional Archery Culture Society" (hereinafter referred to as the "Society"). In English, it shall be represented as the Korea Traditional Archery Culture Society (KTACS).

Article 2 (Purpose) The purpose of the Society is to preserve and inherit the proud National Intangible Cultural Heritage of Korean Traditional archery, thereby contributing to the development of Korea's traditional culture and the intangible cultural heritage of humanity.

Article 3 (Office Location and Role) The principal office of the Society shall be located in Seoul. Branches may be established within Korea as deemed necessary.

Article 4 (Business Activities) To achieve the purposes set forth in Article 2, the Society shall conduct the following activities:

Academic activities, education, and research regarding Traditional archery culture.

Publication of academic journals and books for the scholarly advancement of Traditional archery culture.

International cooperation projects for Traditional archery culture.

Exchange and cooperation between Traditional archery culture organizations of South and North Korea.

Projects to promote and revitalize Traditional archery culture among youth.

Other projects consistent with the purposes of the Society as resolved by the Board of Directors.

Chapter 2: Membership

Article 5 (Composition of Members) Members shall be individuals or organizations that align with the Society's purpose, agree to abide by these Articles, and receive approval from the Board of Directors after submitting a prescribed application form.

Types of Membership:

Regular Member: Domestic or foreign individuals interested in the succession, development, and globalization of Traditional archery culture.

Group Member: Corporations or organizations that agree with the Society’s purpose.

Special Member: Domestic or foreign individuals who have contributed significant donations.

Separate regulations regarding membership screening, dues, and other matters shall be established through deliberation by the Board of Directors.

Article 6 (Rights and Obligations of Members)

(Rights) Members of the Society shall have the following rights:

Regular, Group, and Special Members: To deliberate, ratify, and vote on matters resolved by the Board of Directors.

(Obligations) Members of the Society shall have the following obligations:

To comply with the Articles of Association and internal regulations, and to implement resolutions passed by the Board of Directors and the General Assembly.

To pay membership fees as determined by the Board of Directors.

Article 7 (Joining and Withdrawal)

Anyone wishing to join the Society must submit an application form to the Secretariat.

Members may freely withdraw at their own discretion. Withdrawal is effective from the date the intent is expressed verbally or in writing.

Article 8 (Expulsion and Suspension of Membership)

The Chairperson may, through a resolution of the Board of Directors, take disciplinary action such as expulsion or suspension against any member who engages in acts contrary to the Society’s purpose, damages its honor or prestige, or fails to fulfill the obligations under Article 6, Paragraph 2.

Members who lose their status due to withdrawal or expulsion may not claim any rights to previously paid membership fees or contributions.

Chapter 3: Officers

Article 9 (Types and Number of Officers) The Society shall have the following officers:

One (1) Chairperson

Two (2) Vice-Chairpersons

Not more than twenty (20) Directors (including the Chairperson and Vice-Chairpersons)

Two (2) Auditors

Article 10 (Appointment of Officers)

Officers shall be appointed by the General Assembly through ratification, with the attendance of a majority of the registered members and the affirmative vote of a majority of the members present, based on the resolutions of the Board of Directors.

Any vacancy among the officers shall be filled within two (2) months from the date the vacancy occurs.

New officers shall be appointed no later than two (2) months prior to the expiration of the term of the current officers.

Article 11 (Dismissal of Officers) An officer may be dismissed by the General Assembly upon a resolution of the Board of Directors if they engage in any of the following acts:

Violation of laws, these Articles of Association, or other regulations of the Society.

Causing significant damage to the Society through intent or gross negligence.

Being deemed unfit for office due to neglect of duties, damage to the Society's dignity, or other reasons.

Article 12 (Term of Office)

The term of office for officers shall be three (3) years, and they may be reappointed.

The term of an officer appointed to fill a vacancy shall be the remaining period of their predecessor's term.

Article 13 (Duties of Officers)

The Chairperson shall represent the Society, oversee its overall business, and serve as the chair of the Board of Directors and the General Assembly.

The Vice-Chairperson shall assist the Chairperson and, in the event the Chairperson is deemed unable to perform their duties, shall act on behalf of the Chairperson only if the remaining term is less than one (1) year.

Directors shall constitute the Board of Directors and handle matters delegated by the Board or the Chairperson.

Auditors shall perform the following duties: (1) Audit the status of the Society’s assets. (2) Audit matters concerning the operation and business of the Board of Directors and the General Assembly. (3) Report any irregularities or unfair practices discovered during audits to the Board of Directors, the General Assembly, or the competent authorities and request correction. (4) State opinions to the Board of Directors and the General Assembly regarding the status of the Society’s assets and business.

Article 14 (Advisors and Consultants)

The Society may have Advisors and Consultants.

Advisors and Consultants shall be commissioned by the Chairperson upon recommendation by the Board of Directors.

Chapter 4: General Assembly

Article 15 (Composition of General Assembly)

The General Assembly is the highest decision-making body of the Society and consists of all members. However, if the total number of members exceeds 100, it shall consist of Delegates elected in accordance with Article 17.

The Chairperson shall serve as the chair of the General Assembly.

Article 16 (Delegates)

Delegates shall be composed of: (1) Officers of the Society. (2) Individuals elected as heads of branches in Seoul and other regions.

The composition of the branches mentioned in Paragraph 1, Subparagraph 2 shall be determined by the Society's operating regulations.

The provisions concerning the General Assembly shall apply mutatis mutandis to the Delegate Assembly; in such cases, "members" shall be read as "delegates."

Article 17 (Election of Delegates) In principle, delegates shall be elected at the general assembly of each branch through a direct and secret ballot of the members. If a branch has separate election regulations, those regulations shall apply.

Article 18 (Classification and Convening)

The General Assembly shall be classified into Regular General Assemblies and Extraordinary General Assemblies.

In principle, the Regular General Assembly shall be held once a year, one (1) month prior to the start of each fiscal year, but this may be adjusted by a resolution of the Board of Directors.

To convene a General Assembly, the Chairperson shall notify each member in writing or via electronic mail at least seven (7) days prior to the meeting, specifying the agenda, date, time, and location.

The Chairperson must convene an Extraordinary General Assembly in the following cases: (1) When the Chairperson deems it necessary. (2) When the Board of Directors resolves to convene one. (3) When at least one-third (1/3) of the members request it in writing, specifying the reasons.

Article 19 (Matters for Resolution)

The General Assembly shall be opened with the attendance of a majority of voting members and shall resolve matters by the affirmative vote of a majority of the members present.

The matters to be resolved by the General Assembly are as follows: (1) Ratification of the appointment and dismissal of officers. (2) Ratification of amendments to the Articles of Association. (3) Ratification of the dissolution of the corporation. (4) Ratification of business plans, performance, budgets, and settlement of accounts. (5) Ratification of the acquisition, disposal, and management of assets. (6) Other important matters submitted by the Board of Directors or necessary for the operation of the Society.

Article 20 (Disqualification from Voting) A member shall be disqualified from participating in a vote in any of the following cases:

When the resolution concerns the dismissal or disciplinary action of said member.

When there is a conflict of interest between the member and the Society regarding the exchange of funds/property or litigation.

Chapter 5: Board of Directors

Article 21 (Functions of the Board of Directors) The Board of Directors shall deliberate and resolve on the following matters:

Matters concerning the execution of business.

Matters concerning business plans and operations.

Matters concerning budgets and the settlement of accounts.

Matters delegated by the General Assembly.

Matters concerning the election of officers.

Matters concerning amendments to the Articles of Association.

Matters concerning asset management.

Matters concerning the preparation of agendas to be submitted to the General Assembly.

Other matters delegated by the Chairperson as important for the operation of the Society.

Article 22 (Composition and Role of the Board of Directors)

The Board of Directors shall conduct prior deliberation on agendas to be presented to the General Assembly, while managing and executing projects ratified by the General Assembly and supervising the Secretariat.

The Board of Directors shall execute resolutions of the General Assembly and promote/implement projects and activities specified in these Articles.

The Board shall be composed of not more than 20 members who contributed a certain amount (KRW 1,000,000) or more at the time of establishment.

The standards and scope of business activities shall be determined by resolution of the Board of Directors.

Article 23 (Convening of Meetings)

Meetings of the Board shall be classified into Regular and Extraordinary meetings.

Regular meetings shall be held once a year. Extraordinary meetings shall be convened when the Chairperson deems it necessary, or upon the written request of the Auditor or at least one-third (1/3) of the incumbent directors.

To convene a meeting, the Chairperson shall notify each director of the purpose, date, and venue at least seven (7) days prior to the meeting.

Article 24 (Quorum for Opening and Resolution)

Unless otherwise provided in these Articles, the Board shall open with the attendance of a majority of the incumbent directors and resolve by the affirmative vote of a majority of the directors present. In the event of a tie, the proposal shall be deemed rejected.

For matters requiring urgent action, resolutions may be conducted in writing.

Article 25 (Limitation of Voting Rights) Directors shall be excluded from voting in the following cases:

Matters concerning the dismissal of the director themselves.

When there is a conflict of interest between the director and the Society regarding the exchange of funds or property.

Article 26 (Minutes of the Board of Directors)

Minutes shall be prepared regarding the proceedings of the Board of Directors.

The Chairperson shall keep the minutes at the principal office of the Society.

Chapter 6: Assets and Accounting

Article 27 (Classification of Assets) The assets of the Society shall be classified into Basic Assets and Ordinary Assets.

Basic Assets consist of assets contributed by the founders at the time of establishment and assets designated as basic assets by the Board; the list is attached as "Annex 1."

Ordinary Assets shall be all assets other than the Basic Assets. (The list of Basic Assets shall be prepared once a year and reported to the Minister of Culture, Sports and Tourism.)

Article 28 (Disposal of Basic Assets, etc.) To dispose of (including sale, donation, or exchange) the Basic Assets of the Society, procedures for amending the Articles of Association under Article 39 must be followed.

Article 29 (Revenue) The expenses of the Society shall be met by membership fees, subsidies and grants from the state or local governments, support from public organizations, and other income.

Article 30 (Funds) The Society may establish funds to perform major projects. Matters concerning the establishment and operation of such funds shall be determined separately by the Board.

Article 31 (Designated Donations) If the Society collects designated donations under the Corporate Tax Act, it shall disclose the annual amount of donations collected and their utilization results on its website by the end of March of the following year.

Article 32 (Fiscal Year) The fiscal year of the Society shall follow the government's fiscal year.

Article 33 (Budgeting) The revenue and expenditure budget shall be formulated at least one month before the start of each fiscal year, resolved by the Board, and approved by the General Assembly.

Article 34 (Settlement of Accounts) The Society shall prepare a settlement report within two months after the end of each fiscal year, which must be resolved by the Board and approved by the General Assembly.

Article 35 (Audit) The Auditor shall conduct an accounting audit at least once a year.

Article 36 (Remuneration of Officers) No remuneration shall be paid to officers. However, actual expenses incurred in the performance of duties may be reimbursed.

Chapter 7: Secretariat

Article 37 (Secretariat) A Secretariat shall be established to handle the administrative affairs of the Society under the direction of the Chairperson.

The Secretariat may have one (1) Secretary-General and necessary staff.

The Secretary-General shall be appointed and dismissed by the Chairperson upon resolution of the Board.

Matters concerning the organization and operation of the Secretariat shall be determined separately by the Board.

Chapter 8: Supplementary Provisions

Article 38 (Dissolution)

To dissolve the Society, a resolution must be passed by the General Assembly with the affirmative vote of at least two-thirds (2/3) of the registered members, and the dissolution must be reported to the competent authority.

Upon dissolution, the residual assets shall be donated to the state, a local government, or another non-profit corporation with similar purposes, following a resolution by the General Assembly.

Article 39 (Amendments to the Articles) Any amendment to these Articles shall require a resolution of the General Assembly with the affirmative vote of at least two-thirds (2/3) of the registered members and the permission of the competent authority.

Article 40 (Reporting) The business plan and budget for the following year, along with the performance report and settlement of accounts for the current year, shall be reported to the competent authority within two months after the end of the fiscal year. The inventory of property, status of business, and audit report shall also be submitted.

Article 41 (Enactment of Rules) Matters necessary for the operation of the Society not provided for in these Articles shall be determined as rules by the resolution of the Board of Directors.

Addenda

Article 1 (Enforcement Date) These Articles of Association shall enter into force on the date they are registered with the court following the permission of the competent authority.

Article 2 (Transitional Measures) Acts performed by the promoters for the establishment of the corporation at the time these Articles take effect shall be deemed to have been performed under these Articles.

Article 3 (Signature and Sealing of Founders) To establish the Society, these Articles are prepared, and all founders hereby affix their names and seals.

April 2024

Chairperson & Representative Director: Na Young-il (Seal)

Director: Na Young-il (Seal)

Director: Choi Suk-kyu (Seal)

Director: Han Yong-jin (Seal)

Director: Kim Chang-sun (Seal)

Director: Park Geun (Seal)

Director: Kim Yi-soo (Seal)