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Legislation & Government Relations Consulting Center 2022-03-29
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P&B Report - February, March 2022 Issue

DR & AJU Legislation & Government Relations Consulting Center’s latest issue of its specialized legislative journal, the Policy & Business Report, is now available in digital format.

PPP Candidate Suk Yeol YOON wins 20th Presidential Election. Businesses must prepare for the new Government’s policy directions.

On March 29, 2022, the Legislative Strategy Center (represented by Head of the Center Dong Eon CHA) of DR & AJU LLC (represented by Managing Partner Kyu Chul LEE) released the February, March 2022 issue of the specialized legislative journal, the Policy & Business (P&B) Report.

Mr. Dong Eon CHA, head of the Legislative Strategy Center, stated, “Following the election of the People Power Party candidate Suk Yeol YOON as Korea’s 20th president, various economic policies are expected to change. Along with labor reform, such as enabling flexibility in the 52-hour workweek, a reexamination of the Fair Online Platform Intermediary Transaction Act is also expected. We must also keep an eye on whether the exclusive right to accuse will be abolished and whether the Special Act on Semiconductors will be revised and supplemented.”  

Mr. Seung Cheol LEE, a Senior Advisor at DR & AJU, stated, “In particular, as the president-elect Yoon has often stressed the necessity to revise the Serious Accidents Punishment Act (“SAPA”), modification and supplementation of the law are expected for its reasonable application.” He further pointed out that “the president-elect Yoon promised as a candidate to reduce industrial accidents with an emphasis on prevention rather than punishment, such as employing the technologies of large corporations or by raising the safety awareness of subcontractors. Therefore, corporations must pay close attention to the changing direction of policies, while also focusing on strengthening safety awareness and establishing safety management systems. “

As the first-ever Korean law firm to issue specialized legislative journals, DR & AJU LLC has been publishing the monthly Policy & Business Report since August 2019. Based on a comprehensive evaluation of the legislation proposed to the National Assembly Subcommittee, Standing Committee, and Plenary Session from January 15, 2022 to March 14, 2022, the February, March 2022 issue of the P&B Report selects and analyzes legislation that significantly impacts corporate activities. Especially for major Acts, key quotes from legislators, members of the Standing Committee, and government officials are included.

Mr. Kyu Chul LEE, the Managing Partner of DR & AJU, said, “DR & AJU established the Serious Accidents Practice Group in early 2021 to help corporate executives better mitigate the potential legal risks posed by the new Serious Accidents Punishment Act (“SAPA”), which came into effect on January 27, 2022. Mr. Lee stressed, “Drawing on our experience and practical expertise, we will provide full legal support by preemptively conducting a thorough examination on the reinforced safety and health obligations and proposing effective countermeasures against various upcoming difficulties for businesses to prevent problems after the law’s implementation.”

*Please download the PDF file for further information. (Korean)