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 Telecommunications Business Act
This Amendment requires market-dominant app store operators, such as Google and Apple, to permit third-party payment methods outside their app stores, such as web browsers.
② Partial Amendment to the Restriction of Special Taxation Act
This Amendment temporarily increases the tax deduction rate for investments in facilities for achieving carbon neutrality, such as carbon emission reduction facilities and carbon capture facilities, to 15% of the investment amount, with higher rates of 20% for mid-sized enterprises and 25% for small and medium-sized enterprises, until 2030.
2. Pending Bill(s)
③ Partial Amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection
This Amendment requires providers of AI-generated content (including images, videos, and sound) to mark their content as AI-generated and mandates information and communication network service providers (platform operators) to promptly delete any AI-generated content without the required marks.
3. Promulgated Bill(s)
④ Virtual Convergence Industry Promotion Act
This Bill outlines the formation of a master plan to promote the virtual convergence industry, the implementation of factual surveys to assess the industry's current state and identify areas for regulatory improvement, expert training, and the establishment of regional virtual convergence industry promotion centers.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Act on Promotion of Information and Communications Network Utilization and Information Protection
This Amendment extends the obligation to designate and report a Chief Information Security Officer (CISO) and to obtain an Information Security Management System (ISMS) or Personal Information Security Management System (ISMS-P) certificate to mobile telecommunications resale service providers.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
.png)
