Understanding the Impact of Food Labeling: Insights from the Chip Industry

Proposed Bill: Food Sanitation Act Amendment

Rep. Nam In-soon from the Democratic Party of Korea has put forward a bill that focuses on the labeling of genetically modified (GM) foods. If this amendment passes, all GM food products will need to clearly show labels, even if no GM proteins are present. Additionally, food products made without genetically engineered ingredients will be able to label themselves as non-GM foods.

Proposed Bill: Electric Utility Act Amendment

Another bill, introduced by Rep. Hwang Jung-a, also from the Democratic Party of Korea, aims to support research and development within the electric utility rate framework. This amendment will ensure that the electricity rates for R&D activities do not exceed those charged for agricultural use.

Pending Bill: Semiconductor Industry Competitiveness Act

Rep. Lee Chul-gyu from the People Power Party is proposing a special act that focuses on boosting the semiconductor industry. The bill would allow for government financial support to enhance industrial infrastructure and would exempt R&D workers in the semiconductor field from the standard 52-hour workweek limit.

Promulgated Bill: Community Credit Cooperatives Act

This newly enacted bill limits the chairperson’s role in the Korean Federation of Community Credit Cooperatives to external duties and chair responsibilities. It also changes the term limit for the chairperson from two consecutive terms to a single four-year term.

Administrative Announcement: River Act Amendment

The Ministry of Environment has announced an amendment that includes emergency construction work within the types of river projects that do not require an action plan. This aims to streamline processes during urgent situations.

This overview is based on a weekly legislative report from DR & AJU LLC, highlighting recent changes and proposals in law.