Proposed Bill: Partial Amendment to the Trade Union and Labor Relations Adjustment Act
Proposed by Rep. Kim Eun-hye (People Power Party)
● This bill would prohibit trade unions from occupying workplace facilities and allow employers to use replacement labor during strikes.
Proposed Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act
Proposed by Rep. Kim Hyun-jung (Democratic Party of Korea)
● This bill would require any person acquiring 25 percent or more of a company’s shares to gain management control to conduct a tender offer for all remaining shares.
Pending Bill: Partial Amendment to the Criminal Act
Proposed by Rep. Kim Tae-nyeon (Democratic Party of Korea)
● This bill would exempt management from liability for breach of trust when decisions are made reasonably, in the principal’s interest, and without any conflict of interest.
Promulgated Bill: Enforcement Decree of the Financial Investment Services and Capital Markets Act
Competent Authority: Financial Services Commission
● This bill establishes a legal basis for fractional investment platforms and securities lending platforms.
Administrative Announcement: Partial Amendment to the Rule on Occupational Safety and Health Standards
Competent Authority: Ministry of Employment and Labor
● The draft amendment would require business owners to provide measuring devices to monitor oxygen and hazardous gas concentrations before work begins in confined spaces.
—
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.
