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.
‘2050 Carbon Neutrality Scenario’, ‘Increase in 2030 Nationally Determined Contributions(“NDC”)’ were approved—Businesses must make every effort to reduce greenhouse gas emissions and achieve carbon neutrality.
On October 29, 2021, 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 October 2021 issue of the specialized legislative journal, the Policy & Business (P&B) Report.
Mr. Dong Eon CHA, head of the Legislative Strategy Center, stated, “The 2050 Carbon Neutrality and Green Growth Commission held its second general meeting on October 18 with President Moon attending and reviewed and approved the 2050 Carbon Neutrality Scenario, which excludes coal-powered generation, and an enhanced update of its 2030 NDC. The reduction rate of greenhouse gas emissions increased from 26.3 % to 40%. The government will present the updated 2030 NDC at 2021 UN Climate Change Conference (COP26) and submit it to the UN in December.” Mr. Cha further suggested, “As the government intensified efforts to establish and promote carbon neutrality policies, which is the road we must take, all businesses must seek a rational approach for energy policy, considering domestic industry and economic reality.”
Mr. Seung Cheol LEE, a Senior Advisor at DR & AJU, stated, “As expected, the industrial circles are expressing worries.” He continued, “However, in light of business competition, carbon neutrality cannot be avoided. Businesses that produce a lot of greenhouse gas will likely face disadvantages in the future global market. Moreover, Korea needs to pick up the pace as we are starting later than other advanced countries. This is why the industrial circles urgently need to adopt a bold new attitude.”
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 September 15, 2021 to October 14, 2021, the October 2021 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)
