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 provides that, in the event of a data breach, a company entrusted with processing personal data shall be liable for statutory damages of up to KRW 3 million per victim, even in the absence of intent or negligence on the part of the company.
 
② Class Action Act

This Bill introduces, for cases involving large-scale collective harm such as personal data breaches, an investigation mechanism by court-appointed experts, a three-month deemed approval rule for leave to commence a class action, and an opt-out system.

2. Pending Bill(s)
 
③ Partial Amendment to the Commercial Act

This Amendment mandates the cancellation of treasury shares within one year of acquisition and requires companies holding treasury shares as of the effective date of the Amendment to cancel such shares within 18 months of its enforcement.
 
3. Promulgated Bill(s)
 
④ Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises
 
This Amendment provides that, in a damages claim arising from the misappropriation of technical materials, upon the applicant’s request, court-designated experts may visit the offices, factories, etc. of the opposing party to inspect necessary materials. It further authorizes the court to recognize the results of such inspection as admissible evidence.

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

⑤ Partial Amendment to the Enforcement Decree of the Act on Report on Real Estate Transactions

As the grace period for the increased capital gains tax on multi-property owners is scheduled to expire on May 9, 2026, this Amendment establishes a special provision to exempt, on a temporary basis, land designated for residential housing and currently leased within land transaction permit zones from the land-use obligation upon transfer.

5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies

[The Korea Economic Daily] Prosecutors File Record 64 Indictments Under SAPA Last Year
[The Herald Business] Financial Supervisory Service to Review 2025 Annual Reports, Calls for Full Disclosure of Serious Accidents

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