DR & AJU Legislation & Government Relations Consulting Center's latest issue of its specialized legislative journal, the Policy & Business Report, is now available in digital format.
Ruling and Opposition Parties Agree to Plenary Session… High Possibility of Disputes Over Contentious Bills
The ruling and the opposition parties have agreed to hold a plenary session of the National Assembly on the 28th to address non-controversial bills directly impacting people’s lives. According to political sources, about ten bills, agreed upon by both parties, are expected to pass during the session. These include the Special Act on Jeonse Fraud, the Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises, the Urban Gas Business Act, the Industrial Cluster Development and Factory Establishment Act, and the Special Act on Public Housing.
The Special Act on Jeonse Fraud aims to support victims by requiring Korea Land & Housing Cooperation (LH) to purchase properties affected by Jeonse fraud through auction.
The Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises enables SMEs that have been harmed or at risk of harm from the misuse of technical materials to seek court orders to stop or prevent such misuse.
The Industrial Cluster Development and Factory Establishment Act is also scheduled to be on the agenda at the plenary session. This Act includes provisions to expand the use of renewable energies, such as installing solar photovoltaic systems on factory or warehouse roofs in industrial complexes.
However, there is a possibility that the opposition party may push for a re-vote on contentious bills, including the four broadcasting bills (amendments to the Broadcasting Act, the Foundation for Broadcast Culture Act, the Korea Educational Broadcasting System Act, and the Korea Communications Commission Act) that were returned to the National Assembly following President Yoon’s request for reconsideration. Other potentially contentious bills include the Special Act for the Livelihood Recovery Support Funds, which provides a cash handout of KRW 250,000 to the entire population, and the so-called Yellow Envelope Bill (Trade Union and Labor Relations Adjustment Act), which could lead to renewed clashes between the opposing parties.
As the first-ever Korean law firm to issue specialized legislative journals, DR & AJU LLC has been publishing the monthly Policy & Business Report since August 2019. The August 2024 issue of the P&B Report conducted a full inspection of legislation proposed to the National Assembly Subcommittee, Standing Committee, and Plenary Session from the opening of the 22nd National Assembly on July 15, 2024, to August 14, 2024, and selected and analyzed legislation with significant impact on corporate activities. In the case of major legislation, key mentions of legislators, members of the Standing Committee, and government officials are included.
*DR & AJU Legislation & Government Relations Consulting Center provides P&B Report subscription service. Please contact us at Ic@draju.com for further inquiries.
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