National
Bills in Focus In series
A weekly report by the law firm DR & AJU providing the latest information on bills
#Assmebly
# DR & AJU
Would you like to subscribe?
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?
Holding CEOs accountable for lack of internal financial control
Proposed bill: Partial Amendment to the Act on Corporate Governance of Financial Companies Proposed by Rep. Yoon Han-hong (People Power Party) ● The frequent occurrence of financial accidents has raised the need for financial companies to strengthen the monitoring of their internal control system. T
Sept. 25, 2023 - 15:15:20
Human rights and environmental due diligence, more exemptions from development charges
Proposed bill: Act on Human Rights and Environment Protection for Sustainable Business Administration of Corporations Proposed by Rep. Jung Tae-ho (Democratic Party of Korea) ● ESG policies are now considered a key factor in business management in achieving corporate sustainability and long-term val
Sept. 18, 2023 - 18:07:17
Fair practices in e-commerce, legal grounds for carbon capture tech
Proposed bill: Act on Protection of Digital Service Users Proposed by Rep. Jung Pil-mo (Democratic Party of Korea) ● The rapid advancement of digital services has led to new forms of user rights infringement, highlighting the need for a new act to protect the rights of digital service users. This bi
Sept. 11, 2023 - 14:13:47
Promoting refiners‘ use of feedstock, tackling environmental claims in ads
Proposed bill: Partial Amendment to the Petroleum and Alternative Fuel Business Act Proposed by Rep. Lee In-seon (People Power Party) ● Following the introduction of special deregulations that allow petroleum refiners to use pyrolytic oil -- a substance produced by recycling waste plastic or tires -
Sept. 4, 2023 - 14:32:17
Targeting deceptive gains from convertible bonds, retrieving short-swing profits
Proposed bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Lee Wong-woo (Democratic Party of Korea) To prevent the exploitation of callable convertible bonds (CB) for deceptive gain and power, this amendment prohibits stock-listed corporations from
Aug. 28, 2023 - 11:55:01
Tougher measures against family monopolies, housing scams, construction safety
Proposed bill: Partial Amendment to the Monopoly Regulation and Fair Trade Act Proposed by Rep. Kim Han-kyu (Democratic Party of Korea) ● Although the current law stipulates stringent penalties against the provision of unfair benefits to specially related parties, the effectiveness of such penalties
Aug. 21, 2023 - 17:36:41
Fighting digital piracy, mobile scams and strengthening AI ethics
Proposed bill: Partial Amendment to the Copyright Act Proposed by Rep. Lee Yong-ho (People Power Party) ● Piracy websites providing access to pirated content continue to thrive, highlighting the need for stricter measures to discourage digital piracy. This amendment specifies the operation of a webs
Aug. 14, 2023 - 13:50:20
TV license fee, 3rd party calculation of patent damages, more foreign investment benefits
Proposed bill: Partial Amendment to the Broadcasting Act Proposed by Rep. Park Sung-joong (People Power Party) ● Currently, all people who possess a television receiver must pay a TV license fee, which is used to fund the Korea Broadcasting System. However, this regulation has been criticized for be
Aug. 7, 2023 - 10:35:12
Tackling workplace discrimination, e-commerce fraud
Proposed bill: Partial Amendment to the Labor Standards Act Proposed by Rep. Kim Ju-young (Democratic Party of Korea) ● With the expanding diversity of employment types, there has been a notable increase in cases of discrimination based on employment type. This amendment prohibits discrimination bas
Aug. 1, 2023 - 11:39:28
Billing chargeback prevention, data center disaster response
Proposed bill: Partial Amendment to the Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises Proposed by Rep. Lee Dong-ju (Democratic Party of Korea) ● Unfair transaction practices persist among commissioning enterprises, invoking calls t
July 24, 2023 - 15:22:19
New requirement for telecom equipment and tougher penalties for tech leaks
Proposed bill: Partial Amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection Proposed by Rep. Hong Suk-joon (People Power Party) ● In response to increasing cybersecurity risks, there have been growing calls for the reinforcement of securi
July 17, 2023 - 10:42:55
Subcontractor protection and wider application of ‘lemon law’
Proposed bill: Partial Amendment to the Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises Proposed by Rep. Lee Dong-ju (Democratic Party of Korea) ● There has been a recurring issue where enterprises request technical data from the con
July 10, 2023 - 10:58:43
High-tech industries, investment and trade union transparency
Proposed Bill: Partial Amendment to the Act on Special Measures for Strengthening and Protecting the Competitiveness of National High-Tech Strategic Industries Proposed by Rep. Cho Jung-hun (Transition Korea) ● Given the increasing awareness of the importance of advanced technology for maintaining e
July 3, 2023 - 11:47:21
Tech theft prevention, pay equity and chips tax break
Proposed bill: Partial Amendment to the Act on Prevention of Divulgence and Protection of Industrial Technology Proposed by Rep. Song Eon-Seog (People Power Party) ● Under the current Criminal Act, brokers who arrange job transfers with the precondition of divulging industrial technology often go un
June 26, 2023 - 17:06:25
Tax breaks, talent sourcing for domestic tech industry
Proposed bill: Partial Amendment to the Act on Restriction of Special Taxation Proposed by Rep. Kim Sang-hoon (People Power Party) ● The South Korean government has recently enhanced tax support for facility investments in semiconductors and other national strategy industries to bolster domestic pro
June 19, 2023 - 12:05:58
