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Bills in Focus In series
A weekly report by the law firm DR & AJU providing the latest information on bills
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Bills in Focus In series
A weekly report by the law firm DR & AJU providing the latest information on bills
Would you like to subscribe?
Cancellation of treasury stocks, support for semiconductor industry
Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Choi Eun-seok (People Power Party) ● This bill would introduce shareholder rights plans (poison pills), allow the issuance of dual-class shares, introduce veto-right shares and codify the business judgment rule to expand measures to defend corporate control. Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Kim Hyun-jung (Democratic Party of Korea) ● This bill would mandate the immediate cancellation of
Aug. 4, 2025 - 11:41:27Enhancing shareholder returns, redefining worker, employer
Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Cha Gyu-geun (Rebuilding Korea Party) ● This bill seeks to enhance shareholder returns by requiring companies to cancel treasury shares within six months of acquisition and prohibiting the allocation of new shares to treasury stock in the event of an equity spinoff. Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Kim Tae-nyeon (Democratic Party of Korea) ● This bill would repeal the provision on speci
July 29, 2025 - 12:36:05Mandatory USIM encryption, penalties for safety negligence
Proposed bill: Partial Amendment to the Personal Information Protection Act Proposed by Rep. Kim Woo-young (Democratic Party of Korea) ● This bill would expand requirements for mandatory encryption, currently limited to personally identifiable information and biometric data, to include USIM-related data. Proposed bill: Special Act on Construction Safety Proposed by Rep. Moon Jin-seog (Democratic Party of Korea) ● This bill would impose a business suspension of up to one year or a penalty surchar
July 21, 2025 - 13:42:14Strengthening domestic agent system, savings banks
Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Min Byoung-dug (Democratic Party of Korea) ● This bill would expand the scope of underlying assets for financial investment instruments and trust property to include virtual assets, laying the groundwork for the introduction of spot virtual asset exchange-traded funds in Korea. Proposed Bill: Partial Amendment to the Act on Promotion of Information and Communications Network Utilization
July 14, 2025 - 14:07:19Flexible work hour system, AI industry support
Proposed Bill: Partial Amendment to the Labor Standards Act Proposed by Rep. Kim So-hee (People Power Party) ● The bill would extend the maximum application period for flexible and selective work-hour systems to one year. It would also allow the labor and management to choose the unit period for calculating extended work hours from weekly, monthly, quarterly, semi-annual or annual options. Proposed Bill: Special Act for the Promotion of the Artificial Intelligence Industry and Advancement to Glo
July 7, 2025 - 14:15:55Witness summons expansion, SMR technology support
Proposed Bill: Partial Amendment to the Act on Testimony and Appraisal Before the National Assembly Proposed by Rep. Choi Min-hee (Democratic Party of Korea) ● The bill would expand the scope of authority to issue an order of accompaniment of a witness adopted by the National Assembly to include plenary sessions of standing committees and other general cases. It would also impose administrative fines on witnesses who fail to attend without a justifiable reason or fail to comply with an order of
June 30, 2025 - 14:57:55Shareholder voting rights, private equity fund limit
Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Lee Jung-mun (Democratic Party of Korea) ● The bill would broaden the scope of directors’ duty of loyalty to include shareholders as well as the company, and limit the largest shareholder’s voting rights to 3 percent when appointing audit committee members. Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Kim Hyun-jung (Democratic Party of Korea) ● The bill would
June 23, 2025 - 12:25:39Promoting sustainable, innovative growth in local industries
Proposed Bill: Act on the Establishment and Operation of the Southeastern Regional Industrial Investment Corporation Proposed by Rep. Min Byoung-dug (Democratic Party of Korea) ● This bill would establish the Southeastern Regional Industrial Investment Corporation to boost industrial competitiveness and support the sustainable growth of local businesses, with approximately 3 trillion won ($2.2 billion) in capital contributed by public institutions. Proposed Bill: Partial Amendment to the Financi
June 16, 2025 - 13:18:35Local mobile content provider protection, secondary battery industry support
Proposed Bill: Partial Amendment to the Telecommunications Business Act Proposed by Rep. Choi Min-hee (Democratic Party of Korea) ● This bill would bar global app market operators such as Google and Apple from retaliating against mobile content providers who report violations, including the coercive use of specific in-app payment systems. Offenders could face punitive damages of up to three times the resulting losses. Proposed Bill: Partial Amendment to the Korea Development Act Proposed by Rep.
June 9, 2025 - 13:14:34Bank rate transparency, sinkhole accident prevention
Proposed Bill: Partial Amendment to the Banking Act Proposed by Rep. Kim Jang-kyom (People Power Party) ● This bill would require banks to disclose their current deposit rates, lending rates and interest rate spreads on a monthly basis via their websites. It would also authorize the Financial Services Commission to review the fairness and reasonableness of how these rates are determined, particularly when interest rate spreads widen, and to recommend improvements, if necessary. Proposed Bill: Pa
June 2, 2025 - 14:04:08Stock undervaluation prevention, bank branch closure notices
Proposed Bill: Partial Amendment to the Inheritance Tax and Gift Tax Act Proposed by Rep. Lee So-young (Democratic Party of Korea) ● This amendment aims to prevent controlling shareholders from inducing stock undervaluation to reduce inheritance or gift taxes during ownership succession. If the assessed value of listed shares falls below 80 percent of their net asset value, the same valuation method used for unlisted shares will be applied, reflecting both assets and earnings. Proposed Bill: Par
May 26, 2025 - 13:12:15Personal information protection, new authority for real estate dispute
Proposed Bill: Partial Amendment to the Personal Information Protection Act Proposed by Rep. Lee Jung-mun (Democratic Party of Korea) ● In the event of a leak of sensitive or personally identifiable information, this amendment requires personal information controllers to monitor for the illegal distribution of leaked data for two years and to report the findings to the Personal Information Protection Commission. Proposed Bill: Partial Amendment to the Act on the Improvement of Urban Areas and Re
May 19, 2025 - 14:28:47Promoting AI, space industries
Proposed Bill: Partial Amendment to the Framework Act on the Development of Artificial Intelligence and the Establishment of a Foundation for Trust Proposed by Rep. Hwang Jung-a (Democratic Party of Korea) ● To promote the growth of the domestic AI industry, this amendment delays the enforcement of regulations imposing obligations on AI service providers by three years. Proposed Bill: Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation Proposed by Rep. Shin Yeong-dae
May 7, 2025 - 11:40:22Enhancing workplace safety, employment of older adults
Proposed Bill: Partial Amendment to the Construction Technology Promotion Act Proposed by Rep. Yoon Jong-kun (Democratic Party of Korea) ● To prevent fatal construction site accidents and enhance accountability among construction companies, this amendment establishes a legal basis for disclosing information related to fatal accidents, including the name of the construction company, the project name and the number of fatalities. Proposed Bill: Partial Amendment to the Act on Promotion of Informat
April 28, 2025 - 14:31:44Game user protection, workplace safety support
Proposed Bill: Partial Amendment to the Game Industry Promotion Act Proposed by Rep. Kim Byung-kee (Democratic Party of Korea) ● This amendment requires game companies to retain records of probabilistic item acquisition outcomes for at least three years and to disclose them to users in order to enhance transparency regarding probabilistic items. Proposed Bill: Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation Proposed by Rep. Kim So-hee (People Power Party) ● This
April 21, 2025 - 14:57:32
