Proposed bill: Partial Amendment to the Broadcasting Act

Proposed by Rep. Park Sung-joong (People Power Party)

● Currently, all people who possess a television receiver must pay a TV license fee, which is used to fund the Korea Broadcasting System. However, this regulation has been criticized for being unfair to those who do not subscribe to KBS broadcasts. Accordingly, this amendment sets rational standards for determining who is liable for TV license fees by exempting those who do not receive television broadcasts or are subscribed to other on-demand broadcasting services such as IPTV (internet protocol television), SO (cable television system operators) or satellite broadcasting services from the collection of TV license fees.

Proposed bill: Partial Amendment to the Community Credit Cooperatives Act

Proposed by Rep. Kang Byung-won (Democratic Party of Korea)

● Unlike other cooperative financial institutions, which are monitored by the Financial Services Commission, the Community Credit Cooperative is managed by the Ministry of the Interior and Safety. To reinforce the soundness of the financial market and enhance the efficiency in risk management and institutional operations, this amendment changes the supervisory body of credit and mutual aid businesses of the Community Credit Cooperatives from the Ministry of the Interior and Safety to the Financial Services Commission.

Pending bill: Partial Amendment to the Patent Act

Proposed by Rep. Kim Jung-ho (Democratic Party of Korea)

● As patent infringers usually hold most of the evidence for patent infringement and damages, it is difficult under the current law for patent owners to prove damages in patent lawsuits. This amendment aims to establish an effective dispute resolution system by allowing the court to designate an expert in the relevant field to investigate and secure evidence in lawsuits involving patent infringement, either by ex officio or upon the request of a party.

Promulgated bill: Enforcement Decree of the Foreign Investment Promotion Act

Competent authority: Ministry of Trade, Industry and Energy

● This bill aims to boost foreign investment by expanding the scope of foreign investment cash grants. Cash grants are now granted to cases where a foreign investor modifies an existing factory to engage in businesses related to new growth engines and advanced technologies like future motor vehicles and intelligence information. It also allows regional headquarters that support the sales activities of foreign corporations to be established in designated foreign investment zones. This bill also eases compliance burdens by enabling companies to submit plans for the disposition of domestic affiliate shares owned by joint ventures to the Fair Trade Commission instead of requiring them to dispose of such shares before the Commission’s preliminary review dates.

Administrative announcement: Partial Amendment to the Enforcement Decree of the Restitution of Development Gains Act

Competent Authority: Ministry of Land, Infrastructure and Transport

● This amendment aims to boost the local economy of non-capital areas by raising the minimum land area of a development project that is subject to development charges. Accordingly, for development projects authorized between September 1, 2023, and the end of December 2024 in Sejong City and metropolitan cities other than Seoul, the minimum land area that is subject to the imposition of development charges will be increased by 51.5 percent from 660 square meters to 1,000 square meters.

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.

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