Proposed Invoice: Partial Modification to the Industrial Act
Proposed by Rep. Park Sang-hyuk (Democratic Celebration of Korea)
● Though company administrators have an obligation of loyalty towards their firm, they haven’t any authorized obligations towards their shareholders. Subsequently, to guard shareholders from the selections of administrators, this invoice imposes an obligation of equity on administrators.
Proposed Invoice: Partial Modification to the Motor Car Administration Act
Proposed by Rep. Han Jeoung-ae (Democratic Celebration of Korea)
● In mild of the current electrical car battery hearth, this invoice goals to make sure the customers’ proper to know and make clear legal responsibility within the occasion of an accident by including data on the battery producer and mannequin to the disclosure necessities of EV producers.
Pending Invoice: Particular Act on the Enlargement of the Nationwide Energy Grid
Proposed by Rep. Kim Sung-won (Folks Energy Celebration)
●Increasing the nationwide energy grid has develop into crucial to bolstering nationwide competitiveness within the semiconductor business. Subsequently, this invoice proposes to implement help insurance policies and methods for energy grid building.
Promulgated Invoice: Unfair Competitors Prevention and Commerce Secret Safety Act
Competent Authority: Mental Property Workplace
● This invoice permits events concerned in an unfair competitors investigation to request the inspection or copying of related supplies. It additionally strengthens punishment for the infringement of commerce secrets and techniques and confiscates gadgets utilized in commerce secret violations.
Administrative Announcement: Partial Modification to the Enforcement Decree of the Act on Promotion of Transition to Round Financial system and Society
Competent Authority: Ministry of Setting
●Following the modification of the Act on Promotion of Transition to Round Financial system and Society, this invoice defines the scope of merchandise and distributors topic to the act and specifies the scope of merchandise that should adjust to the act’s standards for restore and sustainable use.
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The Korea Herald republishes a weekly legislative report by native regulation agency DR & AJU LLC to supply the newest data on payments authorised, proposed, pending and set to be promulgated. — Ed.
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