Legislation & Government Relations Consulting Center 2022-08-10
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Weekly Legislative Report (For the week of August 1, 2022 – August 5, 2022)

Weekly Legislative Report for the week of  ㅡ August 1, 2022 – August 5, 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

1. Proposed Bill(s)
① Partial Amendment to the Green Building Construction Support Act

This Amendment allows the head of the certifying institution to revoke certification or prolong its terms of validity by reflecting the results of the examination or condition inspection of certified buildings.

② Partial Amendment to the Occupational Safety and Health Act

This Amendment reinforces the liability of an executive director to the safety and health matters of the workplace by mandating regular or occasional inspection.

2. Pending Bill(s)

③ Partial Amendment to the Financial Investment Services and Capital Markets Act

This Amendment imposes a penalty surcharge of up to two times the amount of unjust gains on the party who acquires unjust gains through unfair trade practices, such as using material nonpublic information or market price manipulation.

3. Promulgated Bill(s)

④ Enforcement Decree of the Corporate Tax Act

This Bill modifies the standards for non-taxation of privatelyconstructed rental housing from the standard market price of less than KRW 600 million (including the relevant house and the land appurtenant) to less than KRW 900 million. The Bill also extends the effective period of exemption that applies nontaxation to the capital gains derived from the transfer of land to a person who would construct buy-to-rent public housing to December 31, 2024.

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

⑤ Partial Amendment to the Enforcement Decree of the Consumer Cooperatives Act

This Amendment aims to strengthen the surveillance of illegal medical institutions established via health and medical cooperatives by non-medical personnel by vesting in the National Health Insurance Agency (“NHIS”) the practical authority to effectively supervise the aforementioned cooperatives.

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

[Yonhap News] Minister of Labor Expresses Desire to Decrease Serious Accidents and Build a New Roadmap Focusing on Autonomy and Prevention
[Kukmin Ilbo] Falling to Death During Work…the First Prosecuted SAPA Case in Seoul
[The Kyunghyang Shinmun] Six Months After the SAPA Implementation…Seoul Metropolitan Government Newly Establishes the Responsible Department of Safety
[Maeil Business News] The SAPA's Arbitrary Work Suspension Order … Demands for Consistent Standards

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