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Social affairs
Strengthening labor rights, measures to protect clinical trial data

The Korea Herald republishes a weekly legislative report by local law firm DR & AJU LLC to provide the latest information on bills approved, proposed, pending and set to be promulgated. -- Ed. Proposed Bill: Partial Amendment to the Trade Union and Labor Relations Adjustment Act Proposed by Rep. Park Hong-bae (Democratic Party of Korea) ● This amendment strengthens protections for fundamental labor rights under the Constitution. Notably, it enhances contractors’ responsibilities toward subcontra
March 10, 2025 - 13:42:26
Enhancing bank services, safety measure for electric cars

The Korea Herald republishes a weekly legislative report by local law firm DR & AJU LLC to provide the latest information on bills approved, proposed, pending and set to be promulgated. -- Ed. Proposed Bill: Partial Amendment to the Insurance Business Act Proposed by Rep. Cha Gyu-geun (Rebuilding Korea Party) ● This amendment mandates that stocks issued by affiliates of an insurance company and held by the company be valued at market prices rather than acquisition costs. It also sets a cap on th
March 4, 2025 - 16:20:55
Politics
[Bills in Focus] Real estate finance reform, industrial tech protection

Proposed bill: Real Estate Development Project Management Act Proposed by Rep. Kwon Young-jin (People Power Party) and Rep. Son Myoung-soo (Democratic Party of Korea) ● In the domestic market, real estate project financing is characterized by a low capital adequacy ratio and heavy reliance on third-party guarantees. As the volume of real estate PF increases, the need for systematic government management has become increasingly urgent. Therefore, this bill promotes the effective management of rea
Sept. 30, 2024 - 11:27:52
Politics
[Bills in Focus] Strengthening consumer rights, taxing carbon emissions

Proposed bill: Partial amendment to the Product Liability Act Proposed by Rep. Joo Ho-young (People Power Party) ● Consumers often find it challenging to prove that damages were caused by a product defect due to the information asymmetry between manufacturers and consumers. This amendment proposes to ease the burden of proof on consumers by considering a product defective and the cause of damage if the victim can prove that such damage occurred while the product was being used normally. Propos
Sept. 23, 2024 - 11:13:48
Politics
[Bills in Focus] Streamlining construction, promoting ESG compliance

Proposed Bill: Act on Special Cases Concerning the Promotion of Reconstruction and Redevelopment Projects Proposed by Rep. Kim Eun-hye (People Power Party) ● Rising construction costs and complex authorization procedures have caused delays in housing provision. To accelerate the completion of reconstruction and redevelopment projects and accommodate the growing demand for housing in city centers, this bill streamlines approval procedures, offers mediation support for construction cost disputes,
Sept. 18, 2024 - 16:50:44
Politics
[Bills in Focus] Breaking app market monopoly, strengthening AI content rules

Proposed Bill: Partial Amendment to the Telecommunications Business Act Proposed by Rep. Lee Jeong-heon (Democratic Party of Korea) ● To regulate app market monopolization and ensure the consumers’ right to choice, this amendment requires market-dominant app store operators, such as Google and Apple, to permit third-party payment options outside their app stores, such as via web browsers. Proposed Bill: Partial Amendment to the Restriction of Special Taxation Act Proposed by Rep. Ki
Sept. 17, 2024 - 16:00:35
Politics
[Bills in Focus] Disclosure of EV battery manufacturer info, national power grid expansion

Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Park Sang-hyuk (Democratic Party of Korea) ● Although corporate directors have a duty of loyalty toward their company, they have no legal obligations toward their shareholders. Therefore, to protect shareholders from the decisions of directors, this bill imposes a duty of fairness on directors. Proposed Bill: Partial Amendment to the Motor Vehicle Management Act Proposed by Rep. Han Jeoung-ae (Democratic Party of Korea) ●
Sept. 2, 2024 - 11:21:51
Politics
[Bills in Focus] Tax exemption for strategic tech, subcontracted labor protection

Proposed Bill: Partial Amendment to the Labor Standards Act Proposed by Rep. Yang Kyung-kyoo (Green Justice Party) ● As of March 2023, the Ministry of Employment and Labor’s employment type disclosure system revealed that companies with 300-500 employees hire 25.2 percent of their workforce directly and 3.4 percent indirectly. However, companies with at least 10,000 employees employ 11.7 percent of their workforce directly and 32.0 percent indirectly. This indicates a trend where larger companie
May 28, 2024 - 14:35:06
Politics
[Bills in Focus] Support for Saemangeum Project, platform monopoly regulations

Proposed Bill: Partial Amendment to the Special Act on Promotion and Support for Saemangeum Project Proposed by Rep. Lee Won-taeg (Democratic Party of Korea) ● The Saemangeum Project, launched in 1989, is an ongoing national project designed to develop an economic hub for business and tourism. Unlike the Gadeokdo New Airport Construction Project, which has progressed swiftly due to being exempt from preliminary feasibility surveys, the Saemangeum Project has faced delays in business promotion be
May 21, 2024 - 11:23:27
Politics
[Bills in Focus] Bills to boost construction investment, AI business

Proposed Bill: Partial Amendment to the Restitution of Development Gains Act Proposed by Rep. Suh Bum-soo (People Power Party) ● In 2023, construction permits were issued for a total area of land 25.6 percent smaller than last year, while the area of land under construction also decreased by 31.7 percent. Considering the significant impact that construction investment and the real estate market have on local economies and the job market, development charges must be alleviated to improve economic
May 14, 2024 - 12:59:42
Politics
[Bills in Focus] Multilateral off-board trading, industrial transformation support

Pending Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Yun Chang-hyun (People Power Party) ● Under the Financial Investment Services and Capital Markets Act, only regulations concerning issuance apply to investment contract securities due to their atypical characteristics and limited distribution potential. However, unlike before, online transaction platforms have made it easier for investors to trade investment contract securities. Therefore, th
May 1, 2024 - 11:21:03
Politics
[Bills in Focus] Power grid expansion, recycling support

Pending Bill: Special Act on the Expansion of the National Power Grid Proposed by Kim Sung-won (People Power Party) ● The evolving electricity production and high-tech industries have called for expanding the national power grid to address the increased supply of renewable energy and the need for a long-distance power transmission network. In particular, the success of new investments in high-tech industries, such as the Yongin Semiconductor Cluster, hinges significantly on preparing special mea
April 23, 2024 - 11:29:54
Politics
[Bills in Focus] Network usage fees, consumer protection from foreign online platforms

Pending Bill: Partial Amendment to the Telecommunications Act Proposed by Rep. Jun Hye-sook (Independent) ●Recently, concerns have been raised over the low network usage fees paid in Korea by global IT firms, such as Google and Facebook, compared to what these operators pay in other countries, such as those in the EU. Critics argue that this discrepancy constitutes discrimination against domestic value-added telecommunication business operators. The networking provision relationship between netw
April 16, 2024 - 14:59:47
Politics
[Bills in Focus] Display of in-game items, future car development

Pending Bill: Partial Amendment to the Income Tax Act Proposed by Rep. Park Dae-chul (People Power Party) ●This amendment proposes canceling the planned implementation of the financial income tax system next year, which imposes a 20-25 percent tax on capital gains from investments in financial investment products, such as stocks, bonds and funds, that are worth 50 million won ($38,230) or more. The financial investment income tax, also known as the “geumtuse,” is a system that levies 20-25 perce
April 9, 2024 - 11:58:18
Politics
[Bills in Focus] Game user protection, fostering AI industry

Proposed Bills: Partial Amendment to the Game Industry Promotion Act Proposed by Rep. Kim Seung-su (People Power Party) ●This amendment ensures users can receive compensation for damages caused by intentional indication of misinformation for probabilistic game items by introducing a punitive damages system that mandates a compensation of twice the maximum damages. Game companies must prove that there was no intention or negligence in not displaying or falsely displaying probabilistic game item i
April 2, 2024 - 13:43:00