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 lc@draju.com.
1. Proposed Bill(s)
① Partial Amendment to the Act on Sale of Building Units
This Amendment reduces the consent rate required to change the use of partially constructed living lodging facilities from the current 100% to 80%. It also grants unit purchasers who do not agree to the change of use the right to request contract termination.
② Partial Amendment to the Small and Medium Enterprise Cooperatives Act
This Amendment allows SME cooperatives to request consultations on trade conditions when entering into transactions with business operators that are not SMEs, such as large enterprises.
2. Pending Bill(s)
③ Special Act on Strengthening Competitiveness and Promoting Innovative Growth in the Semiconductor Industry
This Bill enables the State and local governments to swiftly develop and support industrial infrastructure, such as electricity and water supply, with financial support, including subsidies, to strengthen the competitiveness of the semiconductor industry. It also allows for the exclusion of R&D workers in the semiconductor industry from the 52-hour weekly working limit, provided there is an agreement between the worker and the company.
3. Promulgated Bill(s)
④ Act on the Allocation and Trading of Greenhouse-gas Emission Permits
This Bill expands the range of emission permit traders, currently limited to business entities eligible for allocation, market makers, and emission trading brokers, to include banks, insurance companies, investment traders, and collective investment entities.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Construction Technology Promotion Act
This Amendment enables the disclosure of the names of construction companies when a fatal accident occurs at their construction sites.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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