Proposed Bill: Partial Amendment to the National Health Promotion Act
Proposed by Rep. Lee Soo-jin (Democratic Party of Korea)
- This bill would introduce a sugar levy on the manufacture, processing, or import of sugar-sweetened beverages.
Proposed Bill: Class Action Act
Proposed by Rep. Kim Hyun-jung (Democratic Party of Korea)
- This bill would introduce a class action mechanism applicable to general corporate torts, providing effective remedies for widespread, small-value harm.
Pending Bill: Partial Amendment to the Commercial Act
Proposed by Rep. Oh Gi-hyoung (Democratic Party of Korea)
- This bill would require treasury shares to be cancelled within one year of acquisition and provide that companies holding treasury shares as of the Amendment’s effective date must cancel them within 18 months after enforcement.
Promulgated Bill: Enforcement Decree of the Act on Support for Research and Development of Business-Affiliated Research Institutes, etc.
Competent Authority: Ministry of Science and ICT
- This bill amends regulatory frameworks related to research premises, personnel, and organizational operation, to ensure a more flexible and efficient operation of business-affiliated research institutes and research and development-dedicated departments.
Administrative Announcement: Partial Amendment to the Enforcement Decree of the Financial Investment Services and Capital Markets Act and Partial Amendment to the Regulations on Financial Investment Business
Competent Authority: Financial Services Commission
- The draft amendment would permit single-stock ETFs based on domestic blue chips to be listed publicly.
—
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.
khnews@heraldcorp.com
