Proposed Bill: Special Act on Fostering New Security Innovative Enterprises

Proposed by Rep. Oh Sae-hee (Democratic Party of Korea)

  • This bill would designate industries involving national security-related technologies as new security strategic sectors and establish a specialized investment company to provide phased investment support to Small and Medium-sized Enterprises and middle-standing enterprises in these sectors.

Proposed Bill: Partial Amendment to the Special Act on the Promotion of Growth and the Strengthening of Competitiveness of Middle-Standing Enterprises

Proposed by Rep. Kim Sung-won (People Power Party)

  • This bill would provide a five-year grace period for companies that cease to qualify as a middle-standing enterprise due to growth in their size or other reasons, thereby easing regulatory burdens and contributing to strengthening corporate competitiveness.

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

Proposed by Rep. Oh Gi-hyoung (Democratic Party of Korea)

  • This bill would require a board of directors to disclose to shareholders the details of any acquisition offer that may materially affect shareholder value, its review plans, and its opinion on the offer following an independent and professional review process.

Promulgated Bill: Telecommunications Business Act

Competent Authority: Ministry of Science and ICT, Korea Media and Communications Commission

  • This promulgated bill requires telecommunications business operators to notify users of the optimal rate plan based on an analysis of their data usage and usage patterns.

Administrative Announcement: Partial Amendment to the Enforcement Decree of the Financial Investment Services and Capital Markets Act

Competent Authority: Financial Services Commission

  • The draft amendment would set an annual net purchase limit of 100 million won ($75,000) per OTC exchange for general investors.

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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