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. 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 Special Act on Strengthening and Supporting the Competitiveness of the Semiconductor Industry
This Amendment establishes a special provision under which semiconductor R&D personnel across the country may be exempted from the current 52-hour workweek limit through a written agreement between the parties, subject to the payment of extra wages for overtime work and measures to protect their health, where such exception is deemed necessary in consideration of their income level and the manner the work is performed.
② Partial Amendment to the Last-Mile Logistics Industry Development Act
This Amendment authorizes the Minister of Land, Infrastructure and Transport to establish standards for working hours, while requiring large-scale delivery service providers and late-night delivery service providers to fully bear employment insurance and workers’ compensation insurance premiums of their delivery workers.
2. Pending Bill(s)
③ Partial Amendment to the Inheritance Tax and Gift Tax Act
This Amendment provides that listed shares shall be valued for tax purposes in consideration of their asset value and earnings value using a method similar to that of unlisted stock, if their market price falls below a certain level.
3. Promulgated Bill(s)
④ Enforcement Decree of the Fair Transactions in Subcontracting Act
This Bill doubles the upper limit for increasing penalty surcharges imposed for repeated unfair practices, from the current 50 percent to up to 100 percent. It also expands the scope of items subject to subcontract price adjustment to include major energy costs, such as electricity and gas, in addition to raw material prices.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Fair Transactions in Franchise Business Act
This Bill allows a franchisees association to formally register with the Fair Trade Commission where at least 10 percent or 1,000 franchisees of a single brand join the association, and enables the registered association to request formal consultations with the franchisor on transaction terms.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
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