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Legislation & Government Relations Consulting Center 2021-12-23
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Weekly Legislative Report (For the week of Dec 13, 2021 – Dec 17, 2021)

Weekly Legislative Report For the Week of Dec 13, 2021 – Dec 17, 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 every Wednesday 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 Partial Amendment to the Monopoly Regulation and Fair Trade Act

This Amendment was designed to prevent companies from strengthening the control power of controlling shareholders by exchanging treasury stocks.

② Partial Amendment to the Gross Real Estate Tax Act

This Amendment excludes those who own one house from being subject to gross real estate tax and raises the tax base for those who own two houses from the current KRW 600 million to KRW 1.2 billion.


2. Urgently Enacted Bill(s)

③ - ⑥ Partial Amendment to the Act on the Management of Public Institutions

This Bill authorizes employee representatives to be part of the board of directors and contribute to the institutional decision-making process. The introduction of the labor director system shall be stated in the deliberation and resolution of the Committee. The Bill introduces a system to include personnel recommended by labor unions into non-executive directors of public institutions.


3. Promulgated Bill(s)

⑦ Fair Agency Transaction Act

This Bill introduces a consent resolution. It mandates a supplier’s compensation of less than three times the amount of damages in a case where an agency suffers damages due to the supplier’s retaliatory measures.


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

⑧ Public Notice of Partial Amendment to the Public Officials’ Accident Compensation Act

This Amendment expands the definition of industrial accident by including workplace harassment and other accidents. In addition,
it mandates an investigation of existing situations and specialized research on special diseases to alleviate the public official’s
burden of proving accidents in the line of duty and confirm the grounds for providing benefits.


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


[Hankyoreh] Yong Gyun Kim 3rd Anniversary, Opposition Parties Must Work Together to Amend the ‘Serious Accidents Punishment Act’
[Hankook Ilbo] It’s Yong Gyun Kim’s 3rd Anniversary, and the Death Toll from Industrial Accidents Has Soared
[Kookmin Ilbo] There Are Still Many Other Yong Gyun Kim Driven to Death
[Korea Economy] ‘Recruitment Barrier’ of the Serious Accidents Punishment Act, Who on Earth Is the Law For?


*For more details, please download the PDF file attached