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 Serious Accidents Punishment Act
 
This Amendment alleviates penalties imposed on managing officers and the fines imposed on corporations in the event of a serious accident.
 
② Partial Amendment to the Korea Development Bank Act

This Amendment supports companies engaged in high-tech strategic industries—such as semiconductors, secondary batteries, biotechnology, artificial intelligence, and robotics—by establishing the High-tech Strategic Industry Fund, which will amount to KRW 50 trillion.

2. Pending Bill(s)
 
③ Partial Amendment to the Banking Act

This Amendment permits non-financial institutions, such as post offices, to provide bank agency services.
 
3. Promulgated Bill(s)
 
④ Enforcement Decree of Framework Act on Intelligent Informatization
 
This Bill requires persons who install and operate unmanned kiosks to take measures to enhance information accessibility for vulnerable groups, such as assigning staff to assist with kiosk use or providing real-time voice assistant services. It also imposes an administrative fine of up to KRW 30 million on those who fail to take corrective measures after receiving a corrective order.

4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration

⑤ Partial Amendment to the Enforcement Decree of the Act on Prevention of Divulgence and Protection of Industrial Technology

This Amendment increases the maximum fine for the divulgence of national core technology to foreign countries from KRW 1.5 billion to KRW 6.5 billion. It also allows for the punishment of persons who has the mere knowledge that a leaked technology will be used abroad.

5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
 
[Maeil Business News] Investigations Into Suspects and SAPA Violations Accelerate Following the Extinguishment of Wildfires in Sancheong and Hadong
[The Busan Ilbo] SAPA Will Undergo Constitutional Review Over “Excessive Criminal Liability”
[Yonhap News] Minister of Employment and Labor Moon Soo Kim Criticizes That “SAPA Focuses Excessively on Punishment” During a Lecture Targeting Construction CEOs
[Newsis] Citizens’ Coalition for Economic Justice Raises Concerns Over Potential SAPA Penalty Due to Insufficient Preventive Measures Regarding Structural Collapse at Changwon NC Park

*For more details, please download the PDF file attached.