Page 6 - Framework Act News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Proposed bill: Partial Amendment to the Monopoly Regulation and Fair Trade Act Proposed by Rep. Kim Han-kyu (Democratic Party of Korea) ● Although the current law stipulates stringent penalties against the provision of unfair benefits to specially related parties, the effectiveness of such penalties is limited due to the insufficient time frame given by the current statute of limitations. This amendment extends the ...

South Korea's Constitutional Court on Tuesday dismissed a motion to impeach Interior and Safety Minister Lee Sang-min in a unanimous 9-0 ruling, clearing Lee of his liability for a crowd crush in Seoul’s Itaewon district that killed 159 in October of last year. In their verdict, court justices cleared Lee of charges in the motion, which claimed Lee neglected his duty of taking preventative measures, and vi...

Proposed bill: Partial Amendment to the Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises Proposed by Rep. Lee Dong-ju (Democratic Party of Korea) ● Unfair transaction practices persist among commissioning enterprises, invoking calls to reinforce regulations against commissioning enterprises that engage in unfair transaction practices. This amendment p...

The South Korean central bank has discussed its plans for the development of financial technology, including Big Tech and CBDC, in the country in a new report.

Proposed bill: Partial Amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection Proposed by Rep. Hong Suk-joon (People Power Party) ● In response to increasing cybersecurity risks, there have been growing calls for the reinforcement of security functions in communication equipment. This amendment enables the Minister of Science and ICT to implement an informa...