Newsletters

Legislation & Government Relations Consulting Center 2021-12-15
  • Share

    1. URL

Weekly Legislative Report (For the week of Oct 18, 2021 – Oct 22, 2021)

Weekly Legislative Report for the week of Oct 18, 2021 – Oct 22, 2021
 
 
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, produced by our Legislation Strategy Center, provides analyses of plenary sessions of the National Assembly, meetings of Standing Committees, and Subcommittee. In addition, the Center 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 to the service, the Center has also been issuing the Weekly Legislative Report covering various legal issues at the center of public debate along with editorials and columns on the Serious Accidents Punishment Act (“SAPA”) from major dailies. The report will be released every Wednesday 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 Income Tax Act
 
The Amendment suspends taxation on virtual assets for one year from January 1, 2022, to January 1, 2023. It also raises the amount of basic deduction to 50 million KRW as applies to other financial investment income.

② Partial Amendment to the Special Act on the Promotion of Business Conversion in Small and Medium Enterprises

The Amendment expands the scope of business conversion to include cases of adding new products and services or providing existing products and services in new ways. It also expands markets and strengthens support for businesses.



2. Pending Bill(s)

③ Energy Conversion Support Act
 

The Bill allows for the withdrawal of the designation of generation businesses via deliberation and resolution by the Energy Conversion Committee in cases where it is inevitable for energy conversion and necessary for the public interest.

 
3. Promulgated Bill(s)

④ Enforcement Decree of the Labor Standards Act


The Bill provides a separate regulation for fines on employers, their spouses, and their relatives. The employer shall be punished by a fine not exceeding 5 million KRW if he/she fails to fulfill the obligation to take necessary measures — investigating the case, protecting the victimized employee, punishing the perpetrator, etc. — in the event of workplace harassment.


4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration

⑤ Enforcement Decree of the Occupational Safety and Health Act


The Bill expands the scope of employees subject to protection measures against health impairments provided by the employer to "all employees who have been exposed to verbal abuse, etc. of a third party such as a customer."

⑥ Partial Amendment to the Officetel Building Code

The Amendment relaxes regulations for two years for when the use of a building is altered from a lodging facility to an officetel.


5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
 

[Asia Economics] Though the Serious Accidents Punishment Act Is About to Be in Force, Annually 256 Deaths in the Rural Areas
[Edaily] Establishment of a Committee by the Economic, Social and Labor Council to Help Companies Comply with the Serious Accidents Punishment Act
[Hankyoreh] Did Construction Association of Korea Amend the Articles of Incorporation to Circumvent the Serious Accidents Punishment Act?



*For more details, please download the PDF file attached.