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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?
Multilateral off-board trading, industrial transformation support
Pending Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Yun Chang-hyun (People Power Party) ● Under the Financial Investment Services and Capital Markets Act, only regulations concerning issuance apply to investment contract securities due to their at
April 29, 2024 - 11:22:53
Power grid expansion, recycling support
Pending Bill: Special Act on the Expansion of the National Power Grid Proposed by Kim Sung-won (People Power Party) ● The evolving electricity production and high-tech industries have called for expanding the national power grid to address the increased supply of renewable energy and the need for a
April 22, 2024 - 11:30:49
Network usage fees, consumer protection from foreign online platforms
Pending Bill: Partial Amendment to the Telecommunications Act Proposed by Rep. Jun Hye-sook (Independent) ●Recently, concerns have been raised over the low network usage fees paid in Korea by global IT firms, such as Google and Facebook, compared to what these operators pay in other countries, such
April 15, 2024 - 15:00:51
Display of in-game items, future car development
Pending Bill: Partial Amendment to the Income Tax Act Proposed by Rep. Park Dae-chul (People Power Party) ●This amendment proposes canceling the planned implementation of the financial income tax system next year, which imposes a 20-25 percent tax on capital gains from investments in financial inves
April 8, 2024 - 12:00:45
Game user protection, fostering AI industry
Proposed Bills: Partial Amendment to the Game Industry Promotion Act Proposed by Rep. Kim Seung-su (People Power Party) ●This amendment ensures users can receive compensation for damages caused by intentional indication of misinformation for probabilistic game items by introducing a punitive damages
April 1, 2024 - 13:44:29
Infrastructure building in new cities, retail industry deregulation
Proposed Bill: Partial Amendment to the Special Act on Public Housing Proposed by Rep. Seo Il-jun (People Power Party) ● The lack of major transportation infrastructure in new cities is inconvenient for residents. This amendment modifies the timeframe for formulating improvements in metropolitan tra
March 25, 2024 - 12:37:30
Fostering hydrogen, mobility technologies, investor protection
Proposed Bill: Partial Amendment to the Act on Special Measures for Strengthening the Competitiveness of, and Protecting National High-tech Proposed by Rep. Lee Won-wook (New Reform Party) ● Hydrogen and mobility technologies have recently gained global prominence as a way to tackle climate change a
March 18, 2024 - 11:36:27
Bills to promote strategic technologies, fair app market
Proposed Bill: Partial Amendment to the Telecommunications Business Act Proposed by Rep. Lee Kai-ho (Democratic Party of Korea) ● To promote fair market order in the app market and prevent app market business entities from taking unfair advantage of their transactional position, this amendment prohi
March 11, 2024 - 11:08:30
Tax relief for birth benefits, green light for local logistics facilities
Proposed Bill: Partial Amendment to the Telecommunications Business Act Proposed by Rep. Yoon Doo-hyun (People Power Party) ● To ensure consumers are protected after the abolition of the Mobile Device Distribution Improvement Act, this amendment transfers provisions related to selective contract dis
March 4, 2024 - 13:28:32
Companies supporting child birth, redevelopment projects
Proposed Bill: Partial Amendment to the Act on the Improvement of Urban Areas and Residential Environments Proposed by Rep. Park Duk-hyum (People Power Party) ● The number of owners of most plots of land in major cities exceeds the number of owners allowed to directly or jointly implement a redevelo
Feb. 26, 2024 - 13:19:56
Stock investment promotion, wind power distribution
Proposed Bill: Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation Proposed by Rep. Park Dae-chul (People Power Party) ● In consideration of the high interest rates and rising number of stock investors in the current economic landscape, this amendment proposes to cancel
Feb. 19, 2024 - 15:09:00
Prospective tenant protection, Busan global hub
Proposed Bills: Partial Amendment to the Special Act on Public Housing Proposed by Rep. Kim Byung-wook (Democratic Party of Korea) ● This amendment revises the pre-sale housing subscription system to decrease risks for prospective tenants. It ensures that pre-subscription for housing begins only aft
Feb. 12, 2024 - 11:23:51
‘Shrinkflation’ warnings, tax benefits for tech investment
Proposed Bill: Partial Amendment to the Act on Labeling and Advertising of Foods Proposed by Rep. Park Dae-chul (People Power Party) ● Food manufacturing companies have begun to reduce product volume or alter ingredient content in response to rising prices. To ensure consumers are informed of such c
Feb. 5, 2024 - 14:00:25
Bills on construction defect liability, contracts
Proposed Bill: Special Act on the Change of Jurisdiction of Hanam-gu from Gyeonggi-do to Seoul Metropolitan City Proposed by Rep. Lee Yong (People Power Party) ● This proposed bill backs up the ruling People Power Party‘s “megacity” scheme that intends to incorporate cities near Seoul into the capi
Jan. 29, 2024 - 12:16:44
Substitute holidays, solid fuel restrictions, tech leak prevention
Proposed Bill: Partial Amendment to the Act on Public Holidays Proposed by Rep. Yoo Gyeong-joon (People Power Party) ● The existing law does not specify a deadline for announcing the designation of substitute holidays, which has caused difficulties for people to plan for the holidays. Therefore, thi
Jan. 23, 2024 - 06:28:30
