Proposed Bill: Partial Amendment to the Monopoly Regulation and Fair Trade Act Proposed by Rep. Yoon Han-hong (People Power Party) ●The current act imposes disclosure obligations on certain business groups and the person with de facto control over the group. This amendment clarifies the scope of subjects liable under the act, excluding companies managed by outside directors of affiliates or executive officers of nonprofit corporations from the definition of “business group.” Propsed Bill: Partia

Proposed Bill: Partial Amendment to the Banking Act Proposed by Rep. Park Ju-min (Democratic Party of Korea) ●To improve transparency and rationalize lending rates, this amendment mandates banks to disclose how they calculate their lending rates, including the specific factors that affect additional interest rates. Proposed Bill: Partial Amendment to the Telecommunications Business Act Proposed by Rep. Shin Sung-bum (People Power Party) ●Mobile virtual network operators have recently gained pop

Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Park Ju-min (Democratic Party of Korea) ● Under the current Commercial Act, major shareholders’ voting rights are capped at 3 percent when appointing an auditor. To better represent the interests of minority shareholders, this amendment seeks to extend the “3 percent rule” to apply during mergers between affiliated companies. Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Propo

Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Yoon Han-hong (People Power Party) ● This amendment requires boards of directors to take steps to safeguard shareholders‘ interests when planning significant capital transactions, such as m

Proposed Bill: Partial Amendment to the Commercial Act Proposed by Rep. Lee Jung-mun (Democratic Party of Korea) ● To better protect the interests of general shareholders, this amendment broadens the scope of directors‘ duty of loyalty to include both the company and its shareholders. Additionally,

Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Kim Sang-hoon (People Power Party) ● This amendment seeks to innovate the trust system by allowing liabilities, like mortgages, to be included in trusts. Currently, trust assets are limited

Proposed Bill: Special Act on Strengthening Competitiveness and Promoting Innovative Growth in the Semiconductor Industry Proposed by Rep. Lee Chul-gyu (People Power Party) ● Amid the intensifying global competition for semiconductor dominance, this bill introduces measures to bolster Korea’s semico

Proposed Bill: Partial Amendment to the Labor Standards Act Proposed by Rep. Ko Dong-jin (People Power Party) ● To enhance the competitiveness of Korea’s national high-tech strategic industries, this bill aims to exempt the R&D sector in industries such as semiconductors, displays, biotechnology and secondary batteries from the current weekly cap of 52 work hours. Rep. Ko, a former CEO of Samsung Electronics, emphasized that flexibility in working hours is essential for boosting produc

Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Rep. Kim Jae-sub (People Power Party) ● This amendment expands the Act‘s regulatory scope to cover distribution systems involving atypical securities, paving the way for innovative solutions in

Proposed Bill: Partial Amendment to the Act on the Collection of Insurance Premiums for Employment Insurance and Industrial Accident Compensation Insurance Proposed by Rep. Cho Ji-yeon (People Power Party) ● In response to the tragic fire at a lithium battery factory in Hwaseong, Gyeonggi Province,