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 Partial Amendment to the Financial Investment Services and Capital Markets Act
This Amendment mandates ESG disclosure in business reports starting in 2028 for stock-listed companies with assets of KRW 10 trillion or more.
② Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation
This Amendment clearly specifies that AI data centers and AI factories are eligible for integrated investment tax credits, excludes related assets from the scope of rental assets, and introduces a new production tax credit provision that provides a tax credit against income or corporate tax equal to 20 percent of the production costs incurred in producing cloud computing services at domestic AI data centers.
2. Pending Bill(s)
③ Partial Amendment to the Last-Mile Logistics Industry Development Act
This Amendment authorizes the Minister of Land, Infrastructure and Transport to establish standards for working hours, while requiring large-scale and late-night delivery service providers to fully cover their delivery workers’ employment insurance and workers’ compensation insurance premiums.
3. Promulgated Bill(s)
④ Special Act on Strengthening and Supporting the Competitiveness of the Semiconductor Industry
This Bill provides for the establishment of the Special Committee on Strengthening the Competitiveness of the Semiconductor Industry under the President, the designation of semiconductor clusters and the development and support of related infrastructure, the securing of industrial infrastructure such as power grids, water supply networks, and road networks, and procedures for prioritizing and exempting projects from preliminary feasibility studies. It also provides that the government and local governments may cover 50 to 100 percent of the costs of industrial infrastructure development projects.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Enforcement Decree of the Special Act on Promoting Arctic Route Utilization and Fostering Related Industries
This Bill sets forth the operation of the Arctic Route Committee, chaired by the Prime Minister, and the Arctic Route Working Committee, chaired by the Deputy Minister of Oceans and Fisheries, procedures for formulating master plans and action plans, and the scope of fact-finding surveys.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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