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, 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 Act on the Establishment and Operation of the Real Estate Supervisory Service
 
This Bill establishes the Real Estate Supervisory Service under the Prime Minister to directly investigate real estate-related unlawful conduct and coordinate investigations among relevant authorities.
 
② Partial Amendment to the Distribution Industry Development Act

This Amendment allows superstores and quasi-superstores to provide online delivery services separately from the existing mandatory closure and operating-hour restrictions.

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

This Amendment mandates the cancellation of treasury shares within one year of acquisition and requires companies holding treasury shares as of the effective date of the Amendment to cancel such shares within 18 months of its enforcement.
 
3. Promulgated Bill(s)
 
④ Special Act on Strengthening Competitiveness of and Promoting Support for the Semiconductor Industry
 
This Bill (i) establishes a Semiconductor Industry Competitiveness Reinforcement Special Committee under the President; (ii) requires the formulation of a master plan for strengthening the competitiveness of the semiconductor industry; (iii) establishes a Special Account for Strengthening the Competitiveness of the Semiconductor Industry; (iv) provides for the designation of semiconductor clusters in consideration of balanced regional development; (v) provides development and operational support for industrial infrastructure for such clusters; (vi) supports companies and institutions relocating to the clusters; (vii) implements projects to establish technology development and demonstration centers; (viii) fosters an ecosystem encompassing materials, parts, and equipment, contract manufacturing (foundry), and system semiconductors; (ix) supports the training of professionals and the attraction of foreign talents; and (x) provides for special exemptions from applicable regulations, authorizations, and preliminary feasibility studies.

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

⑤ Partial Amendment to the Regulations on Standards for Housing Construction

This Amendment expands the scope of application by abolishing the area limitation on housing complexes eligible to apply indoor noise standards in lieu of outdoor noise standards. It also allows the separation distance between multi-family housing and a factory boundary to be reduced to 25 meters where noise-emitting facilities are located at least 50 meters from the factory boundary.

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

[Sedaily] “No Liability Based Solely on Reports”: Court Defines Managerial Responsibility Standards
[Asia Business Daily] OSHA Amendment to Allow Up to 5% Penalty on Operating Profits for Repeated Industrial Fatalities Passes Environment and Labor Committee

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