DR & AJU Legislation & Government Relations Consulting Center’s latest issue of its specialized legislative journal, the Policy & Business Report, is now available in digital format.
The Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis passed the Assembly plenary session—Businesses must intensify their capacities to implement carbon neutrality.
On September 29, 2021, the Legislative Strategy Center (represented by Head of the Center Dong Eon CHA) of DR & AJU LLC (represented by Managing Partner Kyu Chul LEE) released the September 2021 issue of the specialized legislative journal, the Policy & Business (P&B) Report.
Mr. Dong Eon CHA, head of the Legislative Strategy Center, stated, “On August 31, the Framework Act on Carbon Neutrality and Green Growth for Coping with Climate Crisis, which specified the 2030 NDC goals to be “not less than 35 percent from the 2018 levels” passed the Assembly plenary session. As a result, South Korea joined the EU, Sweden, the UK, France, Germany, Denmark, Spain, New Zealand, Canada, and Japan as the 14th nation to have laws requiring carbon neutrality.” He mentioned, “This is the first step toward achieving carbon neutrality by 2050. Businesses must now accelerate their efforts to intensify their capacity to implement carbon neutrality.” In reality, many Korean businesses are already voluntarily participating in the “RE100 campaign” and increasing their investment in renewable energy, including hydrogen energy, and heightening their efforts for ESG management and carbon neutrality.
Mr. Seung Cheol LEE, a Senior Advisor at DR & AJU, stated, “Domestic carbon neutrality technologies are only 80 % as advanced as those in the EU and the US, and there is a substantial gap in core technologies such as hydrogen and fuel cells, carbon capture, utilization and storage (CCUS).” He added, “Businesses must invest in cutting-edge R&D, particularly in developing carbon-neutral technologies.”
As the first-ever Korean law firm to issue specialized legislative journals, DR & AJU LLC has been publishing the monthly Policy & Business Report since August 2019. Based on a comprehensive evaluation of the legislation proposed to the National Assembly Subcommittee, Standing Committee, and Plenary Session from August 15, 2021 to September 14, 2021, th September 2021 issue of the P&B Report selects and analyzes legislation that significantly impacts corporate activities. Especially for major Acts, key quotes from legislators, members of the Standing Committee, and government officials are included.
Mr. Kyu Chul LEE, the Managing Partner of DR & AJU, said, “DR & AJU established the Serious Accidents Practice Group in early 2021 to help corporate executives better mitigate the potential legal risks posed by the new Serious Accidents Punishment Act (“SAPA”), which came into effect on January 27, 2022. Mr. Lee stressed, “Drawing on our experience and practical expertise, we will provide full legal support by preemptively conducting a thorough examination on the reinforced safety and health obligations and proposing effective countermeasures against various upcoming difficulties for businesses to prevent problems after the law’s implementation.”
*Please download the PDF file for further information. (Korean)
