Proposed bill: Special Act on the Change of Jurisdiction of Gyeonggi Province and Seoul Metropolitan City

Proposed by Rep. Cho Kyoung-tae (People Power Party)

● Due to its geographical location, Gimpo citizens interact more with Seoul than other parts of Gyeonggi Province, with a high percentage of its population commuting from Gimpo to Seoul. Therefore, this bill aims to resolve the disparity between the administrative district and the actual activity space of Gimpo citizens by excluding Gimpo from the jurisdiction of Gyeonggi Province and establishing Gimpo-gu as a part of Seoul Metropolitan City from Jan. 1, 2025

Proposed bill: Partial Amendment to the Act on Cord Blood Management and Research

Proposed by Rep. Hong Suk-joon (People Power Party)

● While the global interest in the potential application of cord blood in regenerative medicine has recently, Korea currently limits its use to transplantation. This amendment establishes the legal basis for using cord blood in advanced regenerative medicine and allows the usage of qualified cord blood in clinical studies.

Pending bill: Partial Amendment to the Corporate Restructuring Promotion Act

Proposed by Rep. Yun Chang-hyun (People Power Party)

● The Corporate Restructuring Promotion Act has been an effective way for business normalization through the creditors’ autonomous decisions. Therefore, this amendment postpones the expiration date of the Corporate Restructuring Promotion Act until Dec. 31, 2027, to minimize the potential economic crisis caused by business insolvency.

Promulgated bill: Enforcement Decree of the Hydrogen Economy Promotion and Hydrogen Safety Management Act

Competent Authority: Ministry of Trade, Industry and Energy

● This bill classifies hydrogen into five levels based on the volume of greenhouse gases emitted during their production and importation and prescribes the certification, assessment and designation of clean hydrogen evaluation institutions.

Administrative announcement: Partial Amendment to the Enforcement Decree of the Personal Information Protection Act

Competent Authority: Personal Information Protection Commission

● This amendment introduces the right of data subjects to refuse decisions made automatically by AI technologies and to request an explanation. It also strengthens the qualification requirements for chief privacy officers, mandating at least three years of experience in the personal information protection field and at least six years of experience in related areas such as information protection.

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