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 Commercial Act
 
This Amendment requires companies to cancel treasury shares within six months of acquisition, and prohibits the allocation of new shares to treasury shares in the case of a spinoff or spin-off and merger.
 
② Partial Amendment to the Commercial Act

This Amendment abolishes all provisions related to the crime of special misappropriation.

2. Pending Bill(s)
 
③ Partial Amendment to the Trade Union and Labor Relations Adjustment Act

This Amendment introduces the principle of presuming worker status, defines an "employer" to include any person who exerts or holds de facto control or influence, and expands both the scope of labor disputes and the limitations on corporate damage claims against union strikes.

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

④ Partial Amendment to the Enforcement Decree of the Act on the Protection of Financial Consumers

This Amendment requires financial companies to provide an explanation of key information, such as the risk of loss, before selling high-risk financial products. It also prohibits financial companies from inducing customers to enter into contracts through non-face-to-face channels.

5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
 
[Yonhap News] Around 20 Road Workers Die Each Year … Police Vow Active Response, Classifying Accidents as Industrial Disasters
[The Kyunghyang Shinmun] 20-Minute Break Required Every 2 Hours When Apparent Temperature Exceeds 33°C Starting July 17
[Money Today] Vision AI Emerges as Key to Preventing Serious Accidents … Eyes on KRW 9 Trillion Market

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