Proposed Bills: Partial Amendment to the Financial Investment Services and Capital Markets Act

Proposed by Rep. Han Jeoung-ae (Democratic Party of Korea)

  • This bill would require listed companies with assets of 10 trillion won ($7.2 billion) or more to include ESG-related information in their business reports beginning in 2028. It would also provide exemptions from administrative, civil and criminal liability during the first three years of mandatory disclosure and establish safe harbors for estimated and forecast information disclosed in accordance with laws and regulations.

Proposed Bills: Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation

Proposed by Rep. Hwang Jung-a (Democratic Party of Korea)

  • This bill would expand tax credits to cover AI data centers and AI factories and introduce tax credits based on the volume of cloud computing services they produce and sell.

Pending Bill: Partial Amendment to the Last-Mile Logistics Industry Development Act

Proposed by Rep. Yeom Tae-young (Democratic Party of Korea)

  • This bill would establish working-hour standards for delivery workers and require large-scale and late-night delivery service providers to fully cover their workers’ employment insurance and workers’ compensation insurance premiums.

Promulgated Bill: Special Act on Strengthening and Supporting the Competitiveness of the Semiconductor Industry

Competent Authority: Ministry of Trade, Industry and Resources

  • This promulgated bill establishes a comprehensive framework to strengthen Korea’s semiconductor industry by designating and supporting semiconductor clusters, developing related infrastructure such as power grids, water supply networks, and road networks, and providing regulatory and financial support.

Administrative Announcement: Enforcement Decree of the Special Act on Promoting Arctic Route Utilization and Fostering Related Industries

Competent Authority: Ministry of Oceans and Fisheries

  • The draft amendment would establish detailed provisions necessary for implementing the Special Act on Promoting Arctic Route Utilization and Fostering Related Industries, including the scope of related industries, the formulation and implementation of master and action plans, the composition and operation of the Arctic Route Committee and Working Committee, and the training of specialized personnel.

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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.