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 Press Arbitration and Damage Remedies
This Amendment requires a press organization that has provided a news article subject to conciliation by the Press Arbitration Commission to notify the news platform of this fact. Additionally, it mandates that the news platforms indicate on the relevant article that a conciliation request has been filed.
② Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation
This Amendment grants a tax reduction of up to 10% to business operators that manufacture products for domestic consumption using national strategic technologies.
2. Pending Bill(s)
③ Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation
This Amendment enhances the existing investment tax credit for national strategic technologies, such as battery manufacturing, which previously only allowed corporate tax deductions, by permitting companies to receive tax refunds directly or transfer them to a third party.
3. Promulgated Bill(s)
④ Financial Investment Services and Capital Markets Act
This Bill ensures that regulations related to tender offers apply equally to securities markets (exchange markets) and alternative trading systems.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Rules on Housing Supply
This Amendment shortens the resident recruitment restriction period for construction companies subject to a disposition of business suspension by up to half of the original term.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
.png)
.jpg)