Proposed Bill: Partial Amendment to the Trade Union and Labor Relations Adjustment Act

Proposed by Rep. Park Soo-min (People Power Party)

  • This bill would clarify the definition of "employers" as persons designated by Presidential Decree who exercise a certain degree of authority and responsibility over workers’ fundamental working conditions to an extent comparable to that of business owners. It also limits the subject of labor disputes to matters related to working conditions.

Proposed Bill: Partial Amendment to the Act on the Improvement of Urban Areas and Residential Environments

Proposed by Rep. Kim Hee-jung (People Power Party)

  • This bill would permit improvement project implementers carrying out projects within over-concentration control areas or regions designated by municipal or provincial ordinances to construct buildings up to 1.3 times the statutory maximum floor area ratio.

Pending Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act

Proposed by Rep. Kim Hyun-jung (Democratic Party of Korea)

  • This bill would provide that the value of mergers or other transactions involving listed companies shall be determined based on stock prices, comprehensive consideration of asset value, earning-capacity value and other relevant indicators.

Promulgated Bill: Enforcement Decree of the Personal Information Protection Act

Competent Authority: Personal Information Protection Commission

  • The promulgated Act provides that the penalty surcharges imposed on data controllers shall be calculated based on the greater of either the average annual sales for the three business years immediately preceding the year of violation or the annual sales for the business year immediately preceding the year of violation.

Administrative Announcement: Partial Amendment to the Enforcement Decree of the Framework Act on the Construction Industry

Competent Authority: Ministry of Land, Infrastructure and Transport

  • The draft amendment would authorize the Minister of Land, Infrastructure and Transport to directly penalize illegal subcontracting practices upon detection, and to delegate such authority to the head of a Regional Local Management Office.

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The Korea Herald republishes a weekly legislative report by local law firm D&A LLC to provide the latest information on bills approved, proposed, pending and set to be promulgated. — Ed.

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