Page 4 - Partial Amendment News Today

Proposed bill: Partial Amendment to the Construction Technology Promotion Act Proposed by Rep. Heo Jong-sik (Democratic Party of Korea) ● The recent collapse of an underground parking lot has brought to attention the need to remedy poor construction practices. This amendment reinforces the liability of constructors for managing the quality of construction projects by making the appropriateness examination for qualit...

Proposed bill: Partial Amendment to the Fair Transactions in Franchise Business Act Proposed by Rep. Yu Eui-dong (People Power Party) ● Under the current act, franchisers can designate goods or services vital for trademark protection as “essential items” and require their franchisees to trade these items with particular trading partners. However, a growing number of disputes have arisen between franchise...

Proposed bill: Partial Amendment to the Unfair Competition Prevention and Trade Secret Protection Act Proposed by Rep. Lee Yong-bin (Democratic Party of Korea) ● This bill aims to reinforce trade secret protection and prevent potential economic losses by offering monetary rewards to individuals who report activities that leak trade secrets to foreign countries. Such activities include employing a trade secret in a f...

In recent years, the Japanese government has been enhancing the country's image as a preferred choice for international arbitration and dispute resolution. The latest steps include modernising the Arbitration Act to match international practice. Lawyers share how effective the legislation can be and what more the government should do to support Japan's arbitration ecosystem.      

Proposed bill: Partial Amendment to the Monopoly Regulation and Fair Trade Act Proposed by Rep. Kim Hee-gon (People Power Party) ● To clarify the standard for defining a “business group,” this amendment specifies the scope of business and extent of liability of the term “the same person.” Additionally, in response to the criticism of the excessive criminal penalties imposed on businesses who ...

[Translation] October 16, 2023 ...

Proposed bill: Partial Amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection Proposed by Rep. Yoon Doo-hyun (People Power Party) ● Disinformation is difficult to recognize but can be rapidly reproduced and distributed across various communication channels. Not only can this lead to defamation and privacy violations, but disinformation can also be especiall...

Proposed bill: Partial Amendment to the Industrial Sites and Development Act Proposed by Rep. Hong Suk-joon (Democratic Party of Korea) ● Industrial complexes are currently experiencing a decrease in competitiveness and a reduced inflow of young people due to dilapidated infrastructure and a lack of accommodation. To expand the land dedicated to accommodation and invigorate renovation projects, this amendment simpli...

Proposed bill: Partial Amendment to the Act on Corporate Governance of Financial Companies Proposed by Rep. Yoon Han-hong (People Power Party) ● The frequent occurrence of financial accidents has raised the need for financial companies to strengthen the monitoring of their internal control system. To ensure financial companies operate an effective internal control system, this amendment establishes an internal contr...

Proposed bill: Act on Human Rights and Environment Protection for Sustainable Business Administration of Corporations Proposed by Rep. Jung Tae-ho (Democratic Party of Korea) ● ESG policies are now considered a key factor in business management in achieving corporate sustainability and long-term value. In tandem with the global trend of mandating human rights and environmental due diligence within supply chains, thi...