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 Partial Amendment to the Personal Information Protection Act
 
This Amendment expands the scope of persons to be notified in the event of a personal information breach to include not only data subjects whose personal information has been confirmed as breached but also those whose personal information is at risk of divulgence.
 
② Partial Amendment to the Agricultural Cooperative Act

This Amendment mandates that cooperatives and credit cooperatives with total assets of at least KRW 30 billion undergo an external audit annually.

2. Pending Bill(s)
 
③ Partial Amendment to the Personal Information Protection Act

This Amendment allows for the imposition of a penalty surcharge of up to 10% of a company’s total sales in the event of personal data breaches caused by hacking, etc.
 
3. Promulgated Bill(s)
 
④ Engineering Industry Promotion Act
 
This Bill requires the government and public institutions to disclose detailed breakdowns of project costs when tendering for engineering projects, starting in June, 2026.

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

⑤ Partial Amendment to the Enforcement Decree of the Act on External Audit of Stock Companies

This Amendment provides that if a company’s intentional violation of accounting standards continues for more than one year, the administrative fine calculated for each business year shall be increased by up to 30 percent.

5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
 
[Newsis] Labor Ministry Sought 103 Compulsory Investigation Warrants for 1,748 Serious Accident Fatalities – Only Four Arrests
[D News] Labor Ministry Increases Investment to Reduce Industrial Fatalities, Create Safer Workplaces, and Eliminate Safety Blind Spots

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