I. Legal basis

• Decree No. 193/2026/ND-CP

II. What is project investment capital subject to final settlement?

Investment capital subject to final settlement means the total amount of lawful expenditures incurred during the investment process (including insurance contract payments, charges, fees, and expenses for the examination and approval of the final settlement) to bring the project into operation and use, or to implement the decision to discontinue the project in accordance with the document issued by the competent investment decision-making authority. Investment costs included in the final settlement must not exceed the approved total investment amount or any adjusted or supplemented total investment amount approved in accordance with applicable laws.

III. Contents of the final settlement report

The report must fully and accurately identify the following matters:

• Detailed breakdown of the investment capital expended for the project.
• Total investment costs proposed for final settlement.
• Costs arising from losses incurred during the investment process.
• Costs permitted to be excluded from the value of the assets.
• Value of the assets formed upon completion of the investment.

The Minister of Finance shall promulgate the system of standard forms for use in the final settlement of project investment capital and provide guidance on matters relating thereto.

IV. Scope of regulation and effective date

• Scope of application: This Decree provides for the final settlement of investment capital in respect of investment projects, investment preparation tasks, project preparation activities, and planning tasks financed by public investment funds, recurrent expenditures from the state budget, and other state budget funds that do not fall within the scope of regulation of the legislation on public investment.
• Effective date: In addition to completed projects, this Decree also applies to projects that are suspended, temporarily suspended, or terminated (collectively referred to as “discontinued”) pursuant to a written approval issued by the competent authority.

V. Key provisions and principles of the decree

• Investment capital subject to final settlement: Investment capital subject to final settlement is defined as the total amount of lawful expenditures incurred during the investment process to bring the project into operation and use or to discontinue its implementation. Such expenditures must fall within the approved total investment amount or the total investment amount as adjusted or supplemented in accordance with the provisions of law.
• Regarding the segregation of projects and independent subprojects: The Decree expressly provides that where an investment policy decision divides a project into component projects and independent sub-projects, each of which is subject to a separate investment decision, each such component project or independent sub-project shall be reported, examined, and approved for investment capital finalization as an independent project. Component projects or independent sub-projects whose investment capital finalization has already been approved shall not be subject to re-examination when consolidated into the finalization report for the overall project, unless otherwise required by the competent authority.
• Provisions on the audit of final settlement reports: The Decree expressly provides that the final accounts report must be audited for nationally important projects and Group A projects (except for projects classified as state secrets) prior to submission for appraisal and approval of the final accounts.
• Use of the findings of the State Audit and Inspection Authorities: Where the State Audit Office or a competent inspection authority has audited or inspected the project and issued a report containing all information required under the applicable regulations, the authority responsible for the appraisal of the final accounts may rely on such report as the basis for conducting the appraisal, without the need to engage an independent auditor.
• Cost norms: The Decree introduces an interpolation formula and a detailed schedule of fee rates for calculating the costs of engaging independent auditors, as well as the costs of appraisal and approval of the project investment capital final account, based on the project’s investment value.
• Time limits for implementation: The Decree imposes stringent statutory timelines for three key stages of the final account settlement process: (1) preparation of the final account dossier; (2) appraisal of the final account; and (3) approval of the final account. These timelines are prescribed separately for each category of project, including nationally important projects and Group A, Group B, and Group C projects.

VI. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.

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To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.

■ Contact us now

For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.

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