Forming a Korean New Deal Legislative Review TF for the Information and Communications Network Act and Others Support

Lee Kang-seop, Chief of the Legislation Office. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] On the 5th, the Ministry of Government Legislation announced in its annual report that it will establish a dedicated task force (TF) to provide integrated support for the legislative process, including drafting support and preliminary legislative review, for major bills related to the Korean New Deal policies such as the Information and Communications Network Act.

It will support key legal matters of the Korean New Deal, such as the Information and Communications Network Act to strengthen the information security management system certification, and the Personal Information Protection Act to activate the Data Dam project.

Laws involving multiple ministries will be collectively revised. Collective revision refers to the method of consolidating and revising multiple laws at once when government policies change and require amendments to several laws.

It will collectively revise 27 laws, including the 'Enforcement Decree of the Act on the Promotion of the Game Industry,' which has been in effect since last month.

Additionally, the system for providing legal opinions for proactive administration introduced in January will be expanded to metropolitan and provincial governments as well as education offices.

It will promote the revision of job and housing laws that are unfair to the youth generation on a pan-governmental level.

For example, it will identify areas where youth should be specially favored, such as jobs and housing, add 'youth' to the support targets, or discover and revise provisions in individual laws that discriminate against 'youth.'

To prevent the widening gap between additional charges and refund additional charges in the low-interest-rate era, laws will be revised.

Currently, additional charges are set at a high fixed interest rate of about 6% per annum, while refund additional charges are regulated at market interest rates (for example, 1.8% per annum), causing the gap between additional charges and refund additional charges to widen as interest rates fall.

Director Lee Gangseop said, "This year as well, we will do our best to provide legislative support for Korea's recovery, inclusion, and leap forward, and to offer legislative services to improve the quality of life for the people."

Source: Ministry of Government Legislation

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