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 Special Measures for Strengthening the Competitiveness of, and Protecting National High-tech Strategic Industries
This Amendment requires the government and local governments to bear at least 70% of the expenses for establishing or operating infrastructure for the semiconductor industry.
② Partial Amendment to the Act on Special Measures to Strengthen Competitiveness and Stabilize the Supply Chain of Materials, Components, and Equipment Industry
This Amendment proposes removing the sunset clause for the special account for strengthening the competitiveness of materials, components, and equipment.
2. Promulgated Bill(s)
③ Framework Act on Supply Chain Stabilization Support for Economic Security
This Bill mandates the operation and management of an early warning system to monitor domestic and foreign supply and demand trends, prices, and production volumes of commodities and raw materials, as well as changes in policies of foreign governments and companies, and potential logistics, provisioning, and payment errors, to proactively address supply chain risks.
3. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
④ Partial Amendment to the Local Finance Act
This Amendment mandates local governments to implement a main financial activity evaluation system.
4. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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