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 app market business entities that also operate operating system businesses from limiting the installation and utilization of applications on smartphones or tablet PCs through other app market business entities without just cause.
② Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation
This Amendment excludes houses acquired through a 1+1 preferential right to residence from the total number of owned houses used to determine the transfer income tax.
2. Pending Bill(s)
③ Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation
This Amendment extends the tax exemption for research and development expenses and facility investment related to national strategic technologies by six years until December 31, 2030.
3. Promulgated Bill(s)
④ Fair Transactions in Subcontracting Act
This Bill requires a prime contractor that unfairly uses technical data acquired from a subcontractor for their own benefit or for a third party or provides such data to a third party to compensate up to a maximum of five times the loss inflicted upon the subcontractor.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Enforcement Decree of the Act on the Promotion of Utilization and Support of Urban Air Mobility
This Bill designates demonstration project zones and pilot operation zones for urban air mobility through the National Traffic Council with consideration to rationality and safety while subdividing the procedures for regulatory exceptions, such as mandating an opinion-gathering process from local governments and residents as a prerequisite to applying for designation as a pilot operation zone.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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