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 Commercial Act
This Amendment adjusts the scope of directors' duty of loyalty from "the company" to "shareholders' proportional interests and the company."
② Partial Amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection
This Amendment imposes on information and communication service providers the duty to prevent the distribution of unlawful information prohibited from circulation, including fake or manipulated information, in reference to the Digital Services Act implemented in the EU.
2. Promulgated Bill(s)
③ Enforcement Decree of the Fair Transactions in Franchise Business Act
This Bill expands the matters to be included in a franchise agreement to include the process for negotiating changes in transaction conditions.
3. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
④ Partial Amendment to the Enforcement Decree of the Protection of Communications Secrets Act
This Amendment grants the Minister of Science and ICT the authority to issue a corrective order to persons who fail to report the current status of the provision of communication confirmation data, etc., or to keep relevant materials. It also enables the Minister to impose charges for compelling compliance on persons who fail to comply with corrective orders.
4. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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