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 lc@draju.com.
1. Proposed Bill(s)
① Partial Amendment to the Telecommunications Business Act
This Amendment prohibits business operators that own an operating system from forcing users and content providers to use a specific app market and unfairly restricting the use of applications installed via other app markets.
② Partial Amendment to the Act on Restriction of Special Taxation
This Amendment increases the tax credit rate for enterprises investing in semiconductor facilities from 8% to 20% for large and middle-standing enterprises and from 16% to 30% for small and medium-sized enterprises.
2. Pending Bill(s)
③Partial Amendment to the Labor Standards Act
This Amendment changes the limit of extended work from a weekly basis to a monthly or yearly basis, from the current 12 hours per week to 52 hours per month or 625 hours per year.
3. Promulgated Bill(s)
④ Enforcement Decree for the SpecialAct on Support for Areas Adjacent to Districts Granted to the United States Armed Forces in Korea
This Amendment expands the scope of "corporations established to implement projects" among project implementors to include cases where the combined investment ratio of contractors of public projects or public construction projects, land owners, real estate trust companies, etc., is at least 50/100.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Amendment to the Enforcement Decree of the Hydrogen Economy Promotion and Hydrogen Safety Management Act
This Amendment adjusts the total sales criterion used to identify hydrogen-specialized enterprises from the current 2 billion KRW to 1 billion KRW and adjusts the share of sales of hydrogen businesses in the range between 2 billion KRW and 5 billion KRW from 50% to 40%.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
