Weekly Legislative Report for the week of October 17, 2022 – October 21, 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 Framework Act on Broadcasting Communications Development
This Amendment adds value-added telecommunications business operators to major broadcasting communication business entities that establish and implement master plans for the management of disasters in broadcasting communications and dualizes servers, storage devices, and networks to protect major data.
② Partial Amendment to the Restriction of Special Taxation Act
This Amendment extends corporate tax reduction for businesses or corporations that relocate their headquarters outside the Seoul Metropolitan area.
2. Pending Bill(s)
③ Fairness in Online Platform Intermediary Transaction 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 Electric Utility Act
This Bill prescribes the Korea Electrical Safety Corporation as the unified executing institutions for inspection before the use of electric installation for general use (capacity less than 75 kW).
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Rule on Appraisal
This Amendment requires that, when conducting an appraisal of a newly constructed building, where it is difficult to grasp the market price, details on the selection of comparative cases must be specified in the appraisal report.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
