Proposed Bill: Partial Amendment to the Act on Promotion of Transition to Circular Economy and Society

Proposed by Rep. Jang Hye-yeong (Green Justice Party)

● According to data from the Ellen MacArthur Foundation in 2017, the global clothing production volume has surged by 400 percent over the last two decades, and 20 percent of the global water pollution is attributable to the dyeing process of textiles. Moreover, textile production accounts for 10 percent of total greenhouse gas emissions. However, over 70 percent of the clothing ends up incinerated or landfilled, raising concerns about environmental pollution and resource waste due to clothing waste.

Therefore, this amendment recognizes clothing as a circular resource and prohibits the disposal of unsold clothing, encouraging businesses to donate or recycle such clothing.

Proposed Bill: Electronic Persons Act

Proposed by Rep. Kim Woong (People Power Party)

● Despite artificial intelligence's increasing significance and value, there is a lack of adequate legal regulations on its operational consequences. In particular, the autonomy of AI presents challenges for designers and users in predicting its actions. Consequently, existing legal frameworks, such as liability for unlawful acts, agents and death, cannot fully address the issues arising from AI actions. There are attempts to address these issues through insurance or the imposition of liability without fault. However, these approaches have their drawbacks, as they may lead to increased legal disputes and hinder the progress of AI. To solve these problems and foster the advancement of AI technology, it is desirable to confer legal personality on AI and make it subject to legal rights and obligations.

Therefore, this bill proposes to confer legal personality on AI. This will make AI an “electronic person” subject to legal rights and obligations, which will also enable the establishment of an exchange market for the stocks of such electronic persons.

Pending Bill: Special Act on the Expansion of the National Power Grid

Proposed by Rep. Kim Sung-won (People Power Party)

● A strong power grid is essential to enhancing competitiveness in key national industries. Therefore, this amendment proposes establishing a comprehensive support system to improve and actively expand Korea’s power grid infrastructure.

Promulgated Bill: Enforcement Decree of the Fair Transactions in Subcontracting Act

Competent Authority: Fair Trade Commission

● This bill implements measures to prevent the concurrence of dispute mediation procedures and litigation proceedings. It also proposes a maximum reduction of 70 percent in penalty surcharges for violations of subcontracting laws if the offenders autonomously rectify their violations.

Administrative Announcement: Partial Amendment to the Enforcement Decree of the Electronic Financial Transactions Act

Competent Authority: Financial Services Commission

● This amendment aims to protect users of electronic prepayment and small-amount postpaid payment services by stipulating registration criteria for prepayment service providers, protection measures for prepaid deposits, and criteria for affiliated agency stores.

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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.

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For any queries about the bills, contact cr@draju.com.