[Bills in Focus] Disclosure of EV battery manufacturer info, national power grid expansion


Proposed by Rep. Park Sang-hyuk of the Democratic Party of Korea, the Partial Amendment to the Commercial Act seeks to introduce a duty of fairness for corporate directors towards shareholders, aiming to protect shareholders from potentially detrimental decisions made by directors. Similarly, the Partial Amendment to the Motor Vehicle Management Act, proposed by Rep. Han Jeoung-ae, intends to enhance consumer rights and clarify liability in the event of accidents involving electric vehicles by including information on battery manufacturers and models in the disclosure requirements of EV manufacturers. Additionally, the pending Special Act on the Expansion of the National Power Grid, proposed by Rep. Kim Sung-won of the People Power Party, emphasizes the necessity of expanding the national power grid to strengthen national competitiveness in the semiconductor industry. The bill proposes the implementation of support policies and systems for power grid construction to address this need. Furthermore, the recently promulgated Unfair Competition Prevention and Trade Secret Protection Act, overseen by the Intellectual Property Office, allows parties involved in unfair competition investigations to request the inspection or copying of relevant materials and strengthens punishment for trade secret infringement. Lastly, the Administrative Announcement regarding the Partial Amendment to the Enforcement Decree of the Act on Promotion of Transition to Circular Economy and Society, under the Ministry of Environment, defines the scope of products and distributors subject to the act and specifies the products that must comply with the act's criteria for repair and sustainable use following the amendment of the Act on Promotion of Transition to Circular Economy and Society. For any inquiries about the bills, contact cr@draju.com.


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