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 Promotion of Transition to Circular Economy and Society
This Amendment expands the list of circular resources to include clothing in stock and generally prohibits the disposal of such clothing. It also specifies the disposal order for goods in stock, establishes the donating process, and requires large textile companies to disclose their current status of stock disposal.
② Electronic Persons Act
This Bill confers legal personality on artificial intelligence.
2. Pending Bill(s)
③ Special Act on the Expansion of the National Power Grid
This Bill proposes the establishment of a committee chaired by the Prime Minister, simplified administrative procedures and the improvement of licensing procedures, the establishment of a rational land compensation system and differentiated support system, and programs to promote participation from the private sector and facility construction to shorten the construction period.
3. Promulgated Bill(s)
④ Enforcement Decree of the Fair Transactions in Subcontracting Act
This Bill provides a maximum reduction of 70% in penalty surcharges for violations of subcontracting laws if offenders autonomously rectify their violations.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Electronic Financial Transactions Act
This Bill prescribes the criteria for registration as a prepayment service provider, protection measures for prepaid deposits, the direction of institutionalization for small-amount postpaid payment services, and the criteria for affiliated agency stores for transactions using electronic prepayment means.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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