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[Yulchon LLC] Korea’s New Administration: Key Legal and Policy Developments Under President Lee Jae-myung
On June 4, 2025, President Lee Jae-myung assumed office without a transition period, following an early presidential election. Backed by a ruling party with a legislative majority and few institutional constraints, the new administration is positioned to advance its agenda swiftly and decisively.
The Lee administration’s core vision—“Recovery, Growth, and Happiness”—is expected to translate into immediate policy action, including a supplementary budget aimed at boosting household consumption and a renewed focus on external trade strategy.
Crucially, the current political alignment increases the likelihood of reviving key legislative proposals that had previously stalled. These include amendments to the Korean Commercial Act, which would extend directors’ duty of loyalty to shareholders, and revisions to Article 2 of the Trade Union and Labor Relations Adjustment Act, broadening the definition of “employer.” Both proposals are poised to have a direct and lasting impact on corporate governance, labour relations, and investment dynamics in Korea.
Against this backdrop, ECCK member law firm Yulchon LLC has published a timely legal and policy update outlining major initiatives likely to shape Korea’s business landscape. The report offers strategic insight into the legislative trajectory of these proposals and assesses their potential implications for companies and investors navigating the Korean market.
[Yulchon LLC] Korea’s New Administration: Key Legal and Policy Developments Under President Lee Jae-myung
On June 4, 2025, President Lee Jae-myung assumed office without a transition period, following an early presidential election. Backed by a ruling party with a legislative majority and few institutional constraints, the new administration is positioned to advance its agenda swiftly and decisively.
The Lee administration’s core vision—“Recovery, Growth, and Happiness”—is expected to translate into immediate policy action, including a supplementary budget aimed at boosting household consumption and a renewed focus on external trade strategy.
Crucially, the current political alignment increases the likelihood of reviving key legislative proposals that had previously stalled. These include amendments to the Korean Commercial Act, which would extend directors’ duty of loyalty to shareholders, and revisions to Article 2 of the Trade Union and Labor Relations Adjustment Act, broadening the definition of “employer.” Both proposals are poised to have a direct and lasting impact on corporate governance, labour relations, and investment dynamics in Korea.
Against this backdrop, ECCK member law firm Yulchon LLC has published a timely legal and policy update outlining major initiatives likely to shape Korea’s business landscape. The report offers strategic insight into the legislative trajectory of these proposals and assesses their potential implications for companies and investors navigating the Korean market.
Full Report : [법무법인 율촌] Policy Direction of President Lee and Its Impact on Businesses_레포트 – #3804675v1_AD_