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

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

  • This bill would require high-risk ETFs to undergo independent stress testing before being listed.

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

Proposed by Rep. Yoon Han-hong (People Power Party)

  • This bill would expand the scope of products eligible for the domestic production tax credit to include electric vehicles, small modular reactors and domestically produced exports.

Pending Bill: Partial Amendment to the Act on Fair Transactions in Large Retail Business

Proposed by Rep. Kim Seung-won (Democratic Party of Korea)

  • This bill would shorten the payment period for goods supplied to large retailers to reduce financial burdens on small businesses.

Administrative Announcement: Partial Amendment to the Enforcement Decree of the Act on Fair Transactions in Large Retail Business

Competent Authority: Fair Trade Commission

  • The draft amendment would strengthen penalties for unfair transaction practices by large retailers by imposing administrative surcharges based on the value of the violation, or the amount paid for goods supplied where the former cannot be determined. It would also double the maximum additional surcharges for repeated violations from 50 percent to 100 percent.

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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.


seungku99@heraldcorp.com