As the first-ever Korean law firm to issue specialized legislative journals, D&A 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, D&A 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. 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 Framework Act on National Data
This Bill provides that national data is defined as data that requires management, linkage, and utilization at the national level, and that the Minister of Data and Statistics may designate national data following consultation with relevant institutions and deliberation and resolution by the National Data Commission.
② Partial Amendment to the Software Promotion Act
This Amendment abolishes Article 48 (4) of the current Act which restricts companies belonging to business groups subject to cross shareholding restrictions from participating in public software projects, regardless of the project value, thereby enabling large companies to participate in such projects.
2. Pending Bill(s)
③ Partial Amendment to the Income Tax Act
This Amendment removes Article 21 (1) 27 of the Income Tax Act which provides for the imposition of income tax on virtual assets.
3. Promulgated Bill(s)
④ Enforcement Rule of the Occupational Safety and Health Act
This Bill prescribes the specific methods, procedures, and timing of risk assessments, and defines the scope of industrial accidents subject to cause investigations, including those meeting certain criteria where injuries or occupational illnesses result from fires, explosions, collapses, falls, suffocation or toxicosis, chemical leaks, heat-related work, or similar incidents.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Personal Information Protection Act
This Amendment imposes administrative fines of up to 10% of total sales revenue for repeated or serious personal information breaches and allows reductions of up to 40% for companies that have made investments in personnel and facilities, allocated budgets, and implemented other measures for personal information protection.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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