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 Act on Public Holidays
This Amendment requires the government to designate substitute holidays at least two months (60 days) in advance unless the circumstances are unpredictable.
② Partial Amendment to the Clean Air Conservation Act
This Amendment expands the regions subject to solid fuel use restrictions to the entire nation and restricts granting new permission for the establishment of emission facilities primarily reliant on solid fuels.
2. Pending Bill(s)
③ Partial Amendment to the Act on Prevention of Divulgence and Protection of Industrial Technology
This Amendment increases the level of penalties for leaking industrial technologies that directly impacts the national economic security to the level of espionage crime and raises the upper cap of compensation for technology leakage from three to five times the assessed damage.
3. Promulgated Bill(s)
④ Act on Corporate Governance of Financial Companies
This Bill aims to ensure the responsible operation of the internal control system and improvement in the awareness of internal control by executives and employees by strengthening the board of directors' supervision role and mandating the imposition of management's duties and responsibilities related to internal control to executives of financial companies in accordance with their managing area.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Enforcement Decree of the Special Act on the Promotion of Distributed Energy
This Bill requires regions that consume electricity transmitted through transmission networks to bear higher electricity costs than regions that generate electricity.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
