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 Food Sanitation Act
This Amendment mandates that genetically modified food products be labelled as genetically modified (GM) foods, even if genetically engineered proteins no longer remain. It also allows food products that do not use genetically engineered ingredients to be labelled as non-GM foods.
② Partial Amendment to the Electric UtilityAct
This Amendment adds research and development as a category in the electric rate system, which currently divides electric rates into categories by usage such as residential, general, educational, industrial, and agricultural use. It also stipulates that the electric rates for research and development use must not exceed the rates for agricultural use.
2. Pending Bill(s)
③ Special Act on Strengthening Competitiveness and Promoting Innovative Growth in the Semiconductor Industry
This Bill enables the State and local governments to swiftly develop and support industrial infrastructure, such as electricity and water supply, with financial support, including subsidies, to strengthen the competitiveness of the semiconductor industry. It also allows for the exclusion of R&D workers in the semiconductor industry from the 52-hour weekly working limit, provided there is an agreement between the worker and the company.
3. Promulgated Bill(s)
④ Community Credit Cooperatives Act
This Bill limits the role of the chairperson of the Korean Federation of Community Credit Cooperatives to external activities and board chair duties. It changes the term limits from one reappointment for an additional term to a single four-year term and grants standing executive officers (guidance directors and senior managing directors) authority over representation of their respective affairs, personnel management, and budgeting.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the River Act
This Amendment includes construction work carried out as emergency measures under the Framework Act on the Management of Disasters and Safety in the scope of river works exempt from the requirement to formulate an action plan.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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