Article 1: Name
The association is called “Korea REDD+ Association” (KOREDD, hereinafter the “Association”).
Article 2: Purpose
The general purpose of the Association is to carry out private sector-led REDD+ projects as a pivotal point to revitalize international projects aimed at reducing greenhouse gas (GHG) emissions by building public consensus on REDD+* projects and promoting civic participation.
Article 3: Activities
The following activities will be performed to achieve the purpose specified in Article 2:
3.1 Human and material information exchange and networking for REDD+ projects.
3.2 Education to enhance the public understanding of REDD+ projects.
3.3 Fundraising and management necessary to support REDD+ projects.
3.4 Research, academic collaboration, publication, and PR activities to implement REDD+ projects.
3.5 International trend monitoring related to the implementation of REDD+ projects.
3.6 Projects that can respond to climate crisis issues by contributing to achieving national targets of GHG emission reduction and carbon neutrality and supporting corporate environmental, social, and governance (ESG) performance.
3.7 Organization of REDD+ international symposiums to share and spread REDD+ achievements.
3.8 Other projects designed to achieve the purpose of the Association.
Article 4: Location
The Association is based in Seoul (Registered address of the Secretariat: 8F, Forest Vision Center, 9 Gukhoedae-ro 62-gil, Yeongdeungpo-gu, Seoul 07236, South Korea), and it may have domestic and foreign branches when needs arise.
Article 5: Membership Eligibility Criteria
Full membership of the Association is open to any individuals, groups, and organizations that agree to pursue the purpose of the Association, actively participate in its activities and projects, and properly exercise the rights and perform the obligations vested in its members under Articles 7 and 8.
Article 6: Membership Acquisition and Termination
6.1 Membership can be obtained by submitting the application form.
6.2 A member can terminate membership by giving written notice to the Association.
Article 7: Rights of Members
7.1 Members are entitled to participate in all operations and projects of the Association.
7.2 Members are entitled to attend, speak, and vote at the General Assembly as its members.
Article 8: Obligations of Members
8.1 Members must abide by the rules and resolutions.
8.2 The General Assembly decides on the amount and collection details of membership dues.
Article 9: Rewards and Penalties of Members
Members may be rewarded or penalized by the decision of the chairperson pursuant to resolution of the Board of Directors as follows:
9.1 Members who have contributed to the development of the Association shall be rewarded.
9.2 Members who fall under any of the following subparagraphs shall be penalized:
9.2.1 Noncompliance of all or part of the obligations under Article 8.1
9.2.2 Actions damaging the good reputation of the Association
9.2.3 Actions obstructing the activities/projects of the Association
9.3 Types of penalties
9.3.1 Expulsion
9.3.2 Suspension
9.3.3 Warning
Article 10: Organization
Organizations of the Association are the General Assembly, Board of Directors, Audit Committee, Advisory Committee, and Secretariat.
Article 11: Composition of the Executives
The Association shall elect the following executives:
11.1 Board of Directors: 1 Chairperson, 1 or more Vice-Chairpersons, and 5 or more Directors
11.2 Audit Committee: 2 or more Auditors
11.3 Advisory Committee: 2 or more Advisors
Article 12: Elections of Executives and Terms of Office
12.1 The executives are elected from among the members by the Board of Directors, if necessary. However, ex-officio directors are not subject to the selection process.
12.2 The members of the Board of Directors are classified into ex-officio and senior directors.
12.2.1 A person who takes office as an International Forestry Cooperation Officer of the Korea Forest Service serves as a director ex officio.
12.2.2 Senior directors are appointed by the Chairperson at the General Assembly through recommendations from academia and industry.
12.3 The term of office is 3 years for the Chairperson, Directors, and Advisors and 2 years for Auditors. They can be reappointed to office, but the reappointment of the Chairperson is limited to one additional term.
12.4 A vacancy during the term of office shall be filled by the election at the General Assembly, and the term of office shall be the remainder of the predecessor’s term.
12.5 A member of the Board of Directors cannot concurrently serve as an auditor.
Article 13: Duties of Executives
The duties of the executives of the Association are as follows:
13.1 The Chairperson represents the Association, oversees its activities/projects, and chairs the General Assembly and the Board of Directors.
13.2 A Vice-Chairperson assists the Chairperson and acts on his/her behalf in case of an accident.
13.3 Directors, as members of the Board of Directors, have the right to convene, attend, and speak at the board meeting, and attend to matters entrusted by the General Assembly.
13.4 Auditors monitor the Association’s finances and other operations and report the results to the Board of Directors and the General Assembly. They may convene the Board of Directors and General Assembly for reporting purposes.
13.5 The Advisory Committee provides professional advice and technical resources for the implementation of the Association’s policies and projects.
13.6 The executives of the Association receive no financial compensation for their services. However, expenses required for the performance of their duties can be paid by resolution of the Board of Directors.
Article 14: Dismissal of Executives
If an executive commits an act running counter to the purpose or obstructing the activities/projects of the Association, he/she may be dismissed by resolution of the Board of Directors.
Article 15: Composition of the General Assembly
The General Assembly is the highest decision-making body of the Association and comprises all the members of the Association.
Article 16: Types and Convocation of the General Assembly
The General Assembly is divided into regular and extraordinary meetings. The General Assembly is held once a year in the first quarter of each year, convened by the Chairperson, and an extraordinary General Assembly meeting is convened by the Chairperson under any of the following circumstances:
Request of 1/3 or more members
Resolution of the Board of Directors
Decision of the Chairperson
Request of the Audit Committee (Article 13.4)
Article 17: Chair of the General Assembly
The Chairperson shall preside over the General Assembly.
Article 18: Attendance and Resolution Quorum of the General Assembly
The quorum for opening a General Assembly meeting is 1/10 of the members including the majority attendance of directors and officers, and the quorum for resolution is a simple majority of those present. In the event of a tie, the Chairperson shall cast the deciding vote.
Article 19: Agendas of the General Assembly
The General Assembly deliberates and decides on the following matters:
Amendments to the Articles of Association
Change of legal personality or dissolution of the Association
Election of executives
Approval of annual budget plan and accounts
Approval of business plans
Items proposed to the General Assembly by resolution of the Board of Directors
Other important matters
Article 20: Composition of the Board of Directors
The Board of Directors consists of five or more directors elected at the General Assembly.
Article 21: Chairperson
The Chairperson is elected by the Board of Directors.
Article 22: Convocation of the Board of Directors
The Board of Directors holds regular meetings once a year and extraordinary meetings as necessary.
Article 23: Attendance and Resolution Quorum of the Board of Directors
The meeting and resolution quorum requirements of the Board of Directors are the majority of incumbent directors and the majority of the directors present, respectively.
Article 24: Agendas of the Board of Directors
The Board of Directors deliberates and decides on the following matters:
Important policy measures
Important business plans
Budget plans and accounts
Appointment of executives
Items delegated by the General Assembly
Matters requested by the Audit Committee for deliberation
Partial changes to the Articles of Association
Other important matters related to the operation of the Association
Article 25: Department
A Secretariat shall be established to carry out the operation of the Association.
Article 26: Remuneration
The staff of the Secretariat shall be remunerated according to separate remuneration regulations. However, the position occupied by an executive is honorary, and expenses are paid only when deemed necessary.
Article 27: Financial Resources
27.1 The financial resources of the Association are composed of membership dues, project proceeds, grants, donations, and other income.
27.2 The Association deducts the total spending from the total income and carries over the surplus, if any, to the next fiscal year.
27.3 The Association discloses its annual donation and fundraising status and utilization outcomes on its official website.
Article 28: Fiscal Year
The business year of the Association begins on January 1 and ends on December 31 of each year.
Article 29: Budget
The annual budget plan of the Association shall be prepared one month prior to the beginning of each fiscal year and submitted to the Board of Directors for review and finally to the regular General Assembly for approval.
Article 30: Accounts
The annual accounts of the Association, along with the annual report accompanied by the auditor’s statement as of the end of the fiscal year, shall be submitted to the Board of Directors for review and to the regular General Assembly for approval within three months after the end of the fiscal year.
Article 31: Financial Regulations and Rules
More detailed regulations necessary for the financial management of the Association may be set forth separately.
Article 32: Amendments to the Articles of Association
Amendments to the Articles of Association must be approved by the competent authority after the approval of the General Assembly with the attendance quorum of 10 members including the majority of executives and secretariat staff and the resolution quorum of 2/3 of the members present.
Article 33: Dissolution of the Association
A resolution to dissolve the Association shall be made by the General Assembly with the attendance quorum of 20 members including the majority of executives and secretariat staff and the resolution quorum of 2/3 of the members present and shall be reported to the competent authority.
Article 34: Attribution of remaining assets
Upon dissolution of the Association, the remaining assets shall be transferred to the state, local governments, or non-profit corporations with similar mission and purpose pursuant to relevant laws.
Article 1: Date of Entry into Force
The present Articles of Association shall come into effect on the date approved by the General Assembly at its regular meeting.
Article 2: Mutatis Mutandis Provisions
Matters not stipulated by the above Articles of Association shall be governed, mutatis mutandis, by the provisions of the Civil Act.
