Legislation & Government Relations Consulting Center 2023-11-01
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Weekly Legislative Report (For the week of October 23, 2023 – October 27, 2023)

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 Fair Transactions in Franchise Business Act

This Amendment designates the information of services or goods as a matter that must be included in a franchise agreement when a franchiser coerces a franchisee to trade these services or goods with a specific trading partner.

② Partial Amendment to the Export-Import Bank of Korea Act

This Amendment exempts large exporting companies in sectors of construction, defense, etc., from credit-offering limitations by the Export-Import Bank when exporting to a foreign government.

2. Pending Bill(s)

③ Partial Amendment to the Corporate Restructuring Promotion Act

This Amendment extends this Act to remain effective until 2027, enabling the quick identification of early signs of insolvency and the prompt normalization of companies according to the autonomous deliberation of their creditors.

3. Promulgated Bill(s)

④ Act on the Promotion and Support of Mobility Innovation

This Bill introduces a mobility regulatory sandbox to facilitate the demonstration of self-driving cars, drones, demand-responsive bus services, etc., for a maximum of 4 years (2 years + 2 years).

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

⑤ Partial Amendment to the Enforcement Decree of the Industrial Accident Compensation Insurance Act

This Amendment expands the delegation rights for an employee member of the Industrial Accident Compensation Insurance and Prevention Deliberation Committee from trade union federations to workers organizations. 

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

[Money Today] “Report Workers Working at Heights Without Safety Harnesses” … Falling Alert Issued 
[Newsis] Yeosu National Industrial Complex Ranks Second Nationwide in Serious Accidents … Urgent Call for Increased Safety Investments
[Seoul Shinmun] Annual Economic Loss of KRW 28 Trillion Resulted from Industrial Accidents and KRW 33 Trillion Last Year Despite SAPA Implementation

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