Smart Grid Construction and Utilization Promotion Act.

The purpose of this Act is to create smart grids and facilitate the use thereof to develop related industries, cope proactively with global climate changes, lay foundations for future industries oriented to low carbon and green growth, and ultimately contribute to the innovation of the environment for the use of energy and the growth of the national economy. For the purpose of the present Act the term "power grid" means electrical facilities necessary to generate electric power and supply it to electric power users and the system that controls and manages such facilities. The text – consisting of 39 articles – deals, inter alia, with the following aspects: establishment and implementation of master plans; support for research and development; promotion of international cooperation; registration of smart grid business entities; subsidization for invested expenses; certification; performance inspection of information protection; compensation for damage; submission of data; fees; penalty provisions.