Weekly Legislative Report for the week of Oct 25, 2021 – Oct 29, 2021
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, produced by our Legislation Strategy Center, provides analyses of plenary sessions of the National Assembly, meetings of Standing Committees, and Subcommittee. In addition, the Center 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 to the service, the Center has also been issuing the Weekly Legislative Report covering various legal issues at the center of public debate along with editorials and columns on the Serious Accidents Punishment Act (“SAPA”) from major dailies. 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 pr@draju.com.
1. Proposed Bill(s)
① Act on Special Measures for the Protection and Competitiveness Enhancement of National Core Strategic Industries
This Bill implies that preapproval from the Ministry of Trade, Industry and Energy (“MOTIE”) must be obtained for the export or M&A of strategic technology. If the leakage of a strategic technology may seriously affect the national economy or security, the Minister of MOTIE may suspend, ban, or restore the relevant M&A transaction.
② Partial Amendment to the Restrictions of Special Taxation Act
This Amendment aims to establish the basis for tax credit for investment on National Core Strategic Technology facilities, and more.
2. Pending Bill(s)
③ Partial Amendment to the Telecommunications Business Act
This Amendment imposes fines on large domestic and foreign CPs if they fail to pay for their network usage.
3. Promulgated Bill(s)
④ Act on the Promotion of the Conversion into Environment-friendly Industrial Structure
This Bill seeks to promote the market launch of remanufactured products by abolishing the public notice system for remanufactured items in order to accelerate the transition to a low-carbon and eco-friendly economy.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Equal Employment Opportunity and Work-family balance Assistance
This Amendment allows an employee who has received discriminatory treatment from the employer in recruitment or employment to apply for correction to the Labor Relations Commission. The Commission shall issue a corrective order on the employer and impose a fine in the event of violation.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
