Articles 79, 96, 102, 244 and 272 of the Financial Investment Services and Capital Markets Act set forth the fiduciary duty of due care and duty of good faith for collective investment business entities and general partners of the PEF partnerships.

Article 21 of the Act on Support for Small and Medium Enterprises Establishment, Article 4 Section 3 of the Act on Special Measures for the Promotion of Venture Businesses, and Section 14 of the Act on Formation and Operation of Agricultural, Fisheries, and Food Industry Investment Funds also set forth the fiduciary duty of due care and duty of good faith of the general partners. However, these provisions do not clearly define the duties.

EHoo have been working with clients who are the general partners of the investment partnerships on how to satisfy the duties so to protect them from getting into dispute while they are managing their respective investments.