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 Trade Union and Labor Relations Adjustment Act
 
This Amendment prohibits trade unions from occupying workplace facilities and permits employers to use replacement labor during strikes.
 
② Partial Amendment to the Financial Investment Services and Capital Markets Act

This Amendment requires a person acquiring 25% or more of a company’s shares to gain control to conduct a tender offer for all remaining shares.

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

This Amendment exempts management from liability for breach of trust where decisions are made reasonably, in the principal’s interest, and without any conflict of interest.
 
3. Promulgated Bill(s)
 
④ Enforcement Decree of the Financial Investment Services and Capital Markets Act
 
This Bill establishes a legal basis for fractional investment platforms and securities lending platforms.

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

⑤ Partial Amendment to the Rule on the Occupational Safety and Health Standards

This Amendment requires business owners to provide measuring devices to monitor oxygen and hazardous gas concentrations before work begins in a confined space.

5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
 
[Etoday] To Prevent Accidents, 175 Workplaces Already “Pre-Certified” Under the SAPA Compliance Certification (SCC) Program
[The Dong-a Ilbo] Government to Allow Dismissal of Public Institution Heads Following Repeated Industrial Accidents
[Edaily] President Lee Urges Effective Fines to Prevent Serious Accidents
[Yonhap News] Former Administrator of National Agency for Administrative City Construction Indicted over Korea’s First Serious Civic Accident Requests Adjudication on Constitutionality

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