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 Special Act on the Construction Safety
 
This Bill imposes a penalty surcharge of up to 3% of sales or a business suspension of up to one year on construction companies in cases of repeated fatal accidents caused by negligence of safety obligations, with the penalty surcharge capped at KRW 100 billion.
 
② Special Act on the Promotion of the Artificial Intelligence Industry

This Bill introduces a comprehensive AI regulatory sandbox; prescribes measures to promote data utilization; mandates the formulation of five-year master plans by the Ministry of Trade, Industry and Energy and the establishment of a Special Committee for AI Industry Promotion; ensures the securing and support of domestically produced AI semiconductors; provides for the establishment of regional AI data centers and the application of separate electricity transaction standards; and expands financial and administrative support, including direct subsidies.

2. Pending Bill(s)
 
③ Partial Amendment to the Fair Transactions in Franchise Business Act

This Amendment introduces a registration system for franchisee associations to secure franchisees’ right to collective bargaining.
 
3. Promulgated Bill(s)
 
④ Enforcement Decree of the Financial Investment Services and Capital Markets Act
 
This Bill establishes authorized business units for the operation of private shares and fractional investment over-the-counter markets.

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

⑤ Partial Amendment to the Enforcement Decree of the Act on the Protection of Financial Consumers

This Amendment defines “revenue” as the “transaction (sales) amount,” which serves as the base amount for calculating penalty surcharges under the Act on the Protection of Financial Consumers.

5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
 
[Yonhap News] “Industrial Accidents Result in KRW 170 Trillion in Economic Losses and 300 Million Lost Workdays Over the Past Five Years”
[The Chosun Ilbo] Heaviest Sentence under SAPA: CEO Sentenced to 15 Years in Prison in First Trial for “Hwaseong Fire” That Resulted in 23 Deaths
[Money Today] Will CEOs of Major Construction Companies Face Successive Summons Over ‘Liability for Serious Accidents’?

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