Proposed Bill: Partial Amendment to the Act on Sale of Building Units

Proposed by Rep. Eom Tae-young (People Power Party)

● This amendment alleviates the consent rate required to change the use of partially constructed hotels and accommodation facilities from the current 100 percent to 80 percent. It also grants unit purchasers who do not agree to the change of use the right to request contract termination.

Proposed Bill: Partial Amendment to the Small and Medium Enterprise Cooperatives Act

Proposed by Rep. Kim Woni (Democratic Party of Korea)

● This bill grants small and medium-sized enterprise cooperatives the right to request consultations on trade conditions when entering into transaction contracts with non-SME business operators, aiming to prevent unfair trade practices by large companies against SMEs.

Pending Bill: Special Act on Strengthening Competitiveness and Promoting Innovative Growth in the Semiconductor Industry

Proposed by Rep. Lee Chul-gyu (People Power Party)

● This bill enhances semiconductor industry competitiveness by enabling swift infrastructure support and exempting research and development workers in the semiconductor industry from the 52-hour weekly work limit with mutual agreement.

Promulgated Bill: Act on the Allocation and Trading of Greenhouse-gas Emission Permits

Competent Authority: Ministry of Environment

● This bill expands the range of emission permit traders, currently limited to business entities eligible for allocation, market makers and emission trading brokers, to include banks, insurance companies, investment traders and collective investment entities.

Administrative Announcement: Partial Amendment to the Construction Technology Promotion Act

Competent Authority: Ministry of Land, Infrastructure and Transport

● This amendment allows the disclosure of construction company names where fatal accidents have occurred at their construction sites, aiming to enhance construction companies’ responsibility for safety management.

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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.

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