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 Restitution of Development Gains Act
This Amendment proposes a reduction in development charges for development projects subject to the imposition of development charges with authorization, etc., obtained from January 1, 2024, to December 31, 2024.
② Partial Amendment to the Community Credit Cooperatives Act
This Amendment allows individuals with a specific amount of experience as a member or a delegate to be appointed or elected as a full-time executive officer.
2. Pending Bill(s)
③ Act on Artificial Intelligence Industry Promotion and Trust Securement
This Bill establishes the legal foundation to support the AI industry and mandates businesses utilizing AI technologies in high-risk sectors to ensure safety and credibility.
3. Promulgated Bill(s)
④ Act on the Promotion of Utilization and Support of Urban Air Mobility
This Bill facilitates the advancement of new technologies and the development of services for various UAM aircraft, such as air taxis, without being limited by the existing aviation laws.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Personal Information Protection Act
This Amendment establishes detailed criteria for the qualification of data transmitters, methods of transmission, etc., to facilitate the settlement of the MyData system (personal information transmission request system) across all sectors starting next year.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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