Legislation & Government Relations Consulting Center 2021-12-15
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Weekly Legislative Report (For the week of  Nov 29, 2021 – Dec 3, 2021)  

Weekly Legislative Report for the week of  Nov 29, 2021 – Dec 3, 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

1. Proposed Bill(s)
① Partial Amendment to the Framework Act on Labor Welfare

This Amendment provides the legal basis for establishing a labor mutual aid association to support the rights and interests of nonregular workers such as dependent self-employed workers.

② Partial Amendment to the Financial Investment Services and Capital Markets Act

This Amendment mandates credit rating agencies (“CRAs”) to consider companies’ climate change-related risks in their credit rating.

2. Pending Bill(s)

③ Partial Amendment to the Income Tax Act

This Amendment postpones the tax imposition on virtual asset income to 2023 and expands the maximum non-taxable income limit from KRW 2.5 million to KRW 50 million.

3. Promulgated Bill(s)

④ Enforcement Decree of the Act on the Promotion of Saving and Recycling of Resources

This Bill regulates businesses subject to the disposable cup deposit system. It also prohibits disposable straws and stirring rods in food service business places including coffee shops to curb the use of disposable products.

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

⑤ Partial Amendment to the Enforcement Decree of the Telecommunications Business Act

This Amendment considers the act of forcing a specific payment method on customers as an illegal material act, and imposes an administrative fine of 2% of sales and imposes a fine of less than 1% of sales for delaying or deleting the app.

5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies

[The Dong-A Ilbo] Enforcement of the Serious Accidents Punishment Act Likely to Weaken South Korea’s Investment Attractiveness
[AsiaE] Companies Busy Developing ‘Safety Organizations’ Before the Enforcement of the Serious Accidents Punishment Act
[Maeil Business News Korea] Emergencies for Companies Responding to the Serious Accidents Punishment Act — Construction Companies Deploying Robots due to the ‘Fear of Safety Accidents’
[ChosunBiz] While Serious Accidents Punishment Act Causing Great Confusion, Controversy lingers over ‘Hasty and Excessive’ Legislation — Presidential Candidates ‘Playing Dumb’ About Companies’ Fear of Accidents at Construction Sites

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