Three Major Anti-Business Bills Flooding In

The Center for Free Enterprise (CFE) announced three major anti-business bills and released a review diagnosing and examining the points of concern. The first bill is the amendment to the Commercial Act, which was passed by the National Assembly plenary session on the 3rd and approved by the State Council on the 15th. It includes directors’ duty of loyalty to shareholders, application of the 3% rule in appointing audit committee members, and an expansion of the mandatory appointment ratio for outside directors. The second bill is the Yellow Envelope Act (Revised Labor Commission Act), which is slated for fast-track processing in the National Assembly. It includes an expanded definition of employer and scope of labor disputes, individualized and reduced liability for damages, and limits on claims. Third, the government’s tax reform proposal announced on July 31 includes a 1 percentage point increase in the corporate tax rate for each tax base bracket, a stricter major shareholder threshold for capital gains tax (KRW 5 billion → KRW 100 million), and the introduction of separate taxation on dividend income.

Original title: 최근 쏟아지는 3대 반기업법안

Author: Center for Free Enterprise (CFE)

Date: 2025-08-13

Source: https://www.cfe.org/bbs/bbsDetail.php?cid=issue&pn=1&idx=27973