Government sets Thursday deadline for doctors' return
Woman dies after bungee jumping in mall
Over 150 elementary schools have no 1st graders: ministry
[KH explains] Why Korea has been so quick to adopt ‘global minimum tax’
[From the Scene] 12 hours to get ER treatment -- it could get worse
Korea to lift land use restrictions near military bases
Mass walkout by trainee doctors nears deadline as health services crippled
Broadcaster warned after omitting honorific for first lady
Teachers and native English instructors now required to undergo drug testing
Russia sending North Korea food in return for arms: Seoul defense chief
Bills in Focus
[Bills in Focus] Broader offshore financial support, mobility regulatory sandboxBy Korea Herald
Published : Nov. 6, 2023 - 11:46
Proposed bill: Partial Amendment to the Fair Transactions in Franchise Business Act
Proposed by Rep. Yu Eui-dong (People Power Party)
● Under the current act, franchisers can designate goods or services vital for trademark protection as “essential items” and require their franchisees to trade these items with particular trading partners. However, a growing number of disputes have arisen between franchisers and franchisees due to excessive designation of essential items and price hikes. In response to this issue, this amendment mandates franchise agreements to specify matters regarding essential items and their pricing methods.
Proposed bill: Partial Amendment to the Export-Import Bank of Korea Act
Proposed by Rep. Kim Byung-wook (Democratic Party of Korea)
● As overseas contracts in industries like batteries, semiconductors, aerospace, defense and construction have increased, so has the need for financial support policies for exporting companies. To ensure broader access to this support, the amendment incorporates provisions regarding exceptions to the limitation, which were previously prescribed under the enforcement decree, into the act and specifies the qualifications for exceptions to the credit offering limitation.
Pending bill: Partial Amendment to the Corporate Restructuring Promotion Act
Proposed by Rep. Yun Chang-hyun (People Power Party)
● The sudden surge in interest rates and raw material prices has led to a significant rise in bankruptcy petitions. Considering the growing public consensus that a business workout is effective in helping companies with signs of insolvency, this amendment extends the Corporate Restructuring Promotion Act to remain effective until 2027, enabling the quick identification of early signs of insolvency and the prompt normalization of companies according to the autonomous deliberation of their creditors.
Promulgated bill: Act on the Promotion and Support of Mobility Innovation
Competent Authority: Ministry of Land, Infrastructure and Transport
● To encourage the adoption and broad utilization of innovative mobility methods, infrastructure, services and technologies, this bill introduces a mobility regulatory sandbox to facilitate the demonstration of self-driving cars, drones and demand-responsive bus services, among others, for a maximum of four years.
Administrative announcement: Partial Amendment to the Enforcement Decree of the Industrial Accident Compensation Insurance Act
Competent Authority: Ministry of Employment
● The trade union federation’s monopolization of delegation rights for members of the Industrial Accident Compensation Insurance and Prevention Deliberation Committee and the expert committee has caused the continual reappointment of the same members. To enable the participation of diverse experts and reflect diverse opinions in policymaking, this amendment expands the scope of eligible candidates to include members recommended by worker organizations.
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 email@example.com.
Articles by Korea Herald
Deadline looms over trainee doctors’ walkout
S. Korea, US vow stern measures on NK-Russia arms deal
Legality issues linger as nurses fill treatment void Tuesday