a day ago
Local mobile content provider protection, secondary battery industry support
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.
Proposed Bill: Partial Amendment to the Telecommunications Business Act
Proposed by Rep. Choi Min-hee (Democratic Party of Korea)
● This bill would bar global app market operators such as Google and Apple from retaliating against mobile content providers who report violations, including the coercive use of specific in-app payment systems. Offenders could face punitive damages of up to three times the resulting losses.
Proposed Bill: Partial Amendment to the Korea Development Act
Proposed by Rep. Min Hyung-bae (Democratic Party of Korea)
● This bill would explicitly establish the duty of policy financial institutions to promote balanced regional development in relevant laws, including the Export-Import Bank of Korea Act.
Pending Bill: Special Act on the Promotion and Support of the Secondary Battery Industry
Proposed by Rep. Lee Sang-hwi (People Power Party)
● This bill would establish national-level measures to foster and support the secondary battery industry, aiming to drive innovation, boost growth and strengthen industrial competitiveness.
Promulgated Bill: Safety Control and Business of Liquefied Petroleum Gas Act
Competent Authority: Ministry of Trade, Industry and Energy
● The amended law, effective November 28, will allow drivers to refuel their own vehicles at liquefied petroleum gas stations equipped with appropriate facilities.
Competent Authority: Financial Services Commission
● Under the draft amendment, the supervisory benchmark under the Korea Insurance Capital Standard would be lowered from 150 percent to 130 percent as early as mid-June.
