Proposed Bill: Partial Amendment to the Occupational Safety and Health Act

Proposed by Rep. Hwang Myeong-seon (Democratic Party of Korea)

● This bill would require business owners who, by violating statutory safety standards, cause harm to the life or physical integrity of workers to compensate up to three times the actual damage.

Proposed Bill: Partial Amendment to the Foreign Investment Promotion Act

Proposed by Rep. Kim Won-i (Democratic Party of Korea)

● This bill would clarify the legal basis for security deliberation procedures by establishing foreign investment security deliberation procedures, reinforcing the effect of deliberation results, and enhancing predictability for investors.

Pending Bill: Special Act on Strengthening the Competitiveness of the Steel Industry and Transition to Green Steel Technology

Proposed by Rep. Eoh Kiy-ku (Democratic Party of Korea) and Rep. Lee Sang-hwi (People Power Party)

● This bill would expand state-level support for the steel industry by establishing the Special Committee for Strengthening the Competitiveness of the Steel Industry under the President, tightening restrictions on the import and distribution of non-conforming steel products, and providing subsidies and tax incentives for the development of, or investment in, green steel technologies.

Promulgated Bill: Motor Vehicle Management Act

Competent Authority: Ministry of Land, Infrastructure and Transport

● Effective Aug. 14, the amended law requires vehicle manufacturers to submit relevant information to the government for defect inspections when their vehicles are involved in suspected unintended acceleration incidents.

Administrative Announcement: Partial Amendment to the Enforcement Rule of the Game Industry Promotion Act

Competent Authority: Ministry of Culture, Sports and Tourism

● The draft amendment would allow business operators to distribute, at their own discretion, game products without notifying the Game Rating and Administration Committee when making minor changes, such as changes to in-game functions, characters’ lines, or graphics.

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