Legislation & Government Relations Consulting Center 2022-02-28
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Weekly Legislative Report (For the week of Feb 7, 2022 – Feb 11, 2022)

Weekly Legislative Report for the week of  Feb 7, 2022 – Feb 11, 2022
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

1. Proposed Bill(s)
① Partial Amendment to the Serious Accidents Punishment Act

This Amendment expands the scope of workplaces subject to the Serious Accidents Punishment Act to include workplaces with less than five employees and mandates the deployment of a group of two workers at dangerous workplaces.

② Partial Amendment to the Income Tax Act

This Amendment classifies virtual asset income as financial investment income.

2. Pending Bill(s)

③ Partial Amendment to the Interest Limitation Act

This Amendment reduces the maximum interest rate per annum by law from 20% to 15%.

3. Promulgated Bill(s)

④ Hydrogen Economy Promotion and Hydrogen Safety Management Act

This Bill obliges hydrogen product manufacturers to obtain manufacturing permission from the heads of local governments after receiving technological reviews by the Korea Gas Safety Corporation before manufacturing hydrogen products.

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

⑤ Partial Amendment to the Enforcement Decree of the Act on Resource Circulation of Electrical and Electronic Equipment and Vehicles

This Amendment imposes a fine of KRW 727 per kilogram on solar panel manufacturers and importers when they fail to perform obligations to recycle waste solar panels.

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

[Kukmin Ilbo] Workplaces with Chronic Accidents to Be Supervised Until Deemed Safe
[Herald Economy] SAPA Spurs Corporate Rush to Appoint Safety Personnel
[Edaily] The Reason Why the Game Industry, a Non-Manufacturing Industry, is Bracing for the SAPA
[Financial News] Inevitable Uncertainty in SAPA Sentencing Expected Until Precedents Accumulate

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