Weekly Legislative Report for the week of ㅡMay 23, 2022 – May 27, 2022
As the first-ever Korean law firm to issue specialized legislative journals, DR & AJU LLC has been publishing the monthly Policy & Business (P&B) Report since August 2019. The P&B Report provides analyses of plenary sessions of the National Assembly, as well as standing committee and subcommittee meetings. In addition, the firm has been co-hosting the Future Leaders Forum with the Herald Business, inviting chairpersons of standing committees to discuss relevant legislative issues and tasks.
As an extension of this service, DR & AJU has also been issuing the Weekly Legislative Report, which covers various legal issues at the center of public debate along with editorials and columns on the Serious Accidents Punishment Act (“SAPA”) from major daily news outlets. The report will be released with an update on newly proposed or pending bills. Enclosed is this week’s legislative report, and please refer to the P&B Report for further details.
If you wish to subscribe to the P&B Report or have any other queries, please contact us at pr@draju.com.
1. Proposed Bill(s)
① Partial Amendment to the Act on the Improvement of Urban Areas and Residential Environments
This Amendment strengthens the qualifications of the chair of an association by including requirements that if ownership of a building or land is shared with others, at least 50% of the stake must be owned to be appointed as the chair of the association.
② Partial Amendment to the Restriction of Special Taxation Act
This Amendment temporarily raises the tax deduction rate for investments in carbon emission reduction facilities and carbon capture facilities for realizing carbon neutrality to promote the expansion of eco-friendly investments. The deduction rate for conglomerates, enterprises of middle standing, and small and medium-sized enterprises are 10/100, 15/100, and 20/100 of the investment amount, respectively.
2. Pending Bill(s)
③ Fairness in Online Platform Intermediary Transactions Act
This Bill stipulates the obligation to deliver online platform intermediary contracts, standards of unfair trade practices
by online platform intermediaries, dispute resolution systems between business operators, the Korea Fair Trade Commission
(“KFTC”)’s investigation and processing of violations, and online platform intermediaries’ liability for damages incurred by the
violations.
3. Promulgated Bill(s)
④ Act on Fostering and Supporting Agricultural and Fisheries Business Entities
This Bill divides investigations of agricultural corporations into regular and occasional investigations. Regular investigations shall be conducted every year, and occasional investigations can be conducted if deemed necessary for the legitimate operation of agricultural corporations by the head of Si/Gun/Gu. The Bill imposes a reporting obligation on local governments (Si/Gun/Gu) before registering the establishment, modification, and dissolution of agricultural corporations. The Bill also imposes penalty surcharges on agricultural corporations that operate real estate businesses by exploiting or diverting farmland.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Occupational Safety and Health Act
This Amendment imposes administrative fines of up to KRW 15 million on the breach of obligations to provide places required to install rest facilities, etc.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
