Panoramic view of the National Assembly (The National Assembly)
Panoramic view of the National Assembly (The National Assembly)

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 Construction Technology Promotion Act

Proposed by Rep. Yoon Jong-kun (Democratic Party of Korea)

● To prevent fatal construction site accidents and enhance accountability among construction companies, this amendment establishes a legal basis for disclosing information related to fatal accidents, including the name of the construction company, the project name and the number of fatalities.

Proposed Bill: Partial Amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection

Proposed by Rep. Cho In-cheul (Democratic Party of Korea)

● This amendment increases the responsibilities of domestic agents of foreign online platforms, such as Google and YouTube, by requiring them to report their plans, status, and outcomes of compliance with Korean Communications Commission orders.

Pending Bill: Partial Amendment to the Act on Prohibition of Age Discrimination in Employment and Elderly Employment Promotion

Proposed by Rep. Kim Wi-sang (People Power Party)

● This amendment requires employers to provide continued employment in line with the national pension eligibility age, while leaving the choice of specific measures -- such as extending the retirement age or rehiring retired employees -- up to each company.

Promulgated Bill: Enforcement Decree of the Act on the Employment Improvement of Construction Workers

Competent Authority: Ministry of Employment and Labor

● This bill lowers the contract price threshold for requiring contractors in publicly ordered construction projects to pay subcontractor wages separately from other construction costs -- from 50 million won to 30 million won -- to prevent wage delays.

Administrative Announcement: Partial Amendment to the Commercial Act

Competent Authority: Ministry of Justice

● This amendment allows the statutory interest rate to be adjusted based on economic indicators such as interest and inflation rates, aiming to respond more flexibly to changing economic conditions and minimize unfair gains or losses for creditors and debtors.

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For queries about the bills, contact cr@draju.com.