General residential area near Cheongnyangni Station and Yongdu Station, Dongdaemun-gu, Seoul. Photo by Jang Jin-hyeong aymsdream@
[Asia Economy Reporter Kim Heung-soon] On the 29th, the National Assembly's Legislation and Judiciary Committee approved an amendment to the Special Act on Public Housing, which regulates the supply procedures for equity accumulation-type sale housing.
Equity accumulation-type housing is a method where residents first pay 20-25% of the sale price to acquire that equity and live in the home, then pay the remaining equity over 20-30 years to obtain full ownership of the house. This bill is a follow-up legislation to support the government's August 4 real estate measures announced last year.
At the time of the August 4 measures, the government decided to pilot equity accumulation-type sale housing among public sales to support first-time homebuyers and other non-homeowners with actual housing demand.
The Legislation and Judiciary Committee also approved an amendment to the Act on Gender Equality in Employment and Work-Family Balance Support, allowing pregnant workers to take parental leave before childbirth.
Under current law, parental leave can only be used after childbirth, and there are period restrictions on reduced working hours during pregnancy and pre- and post-childbirth leave, which has been criticized for limiting protection for high-risk pregnant workers. The amendment also establishes relief procedures through the Labor Relations Commission in cases of gender discrimination or sexual harassment in employment.
The committee approved the Act on Designation of Essential Work and Protection and Support for Workers, which establishes a support system for 'essential workers.' It also approved an amendment to the Act on Safety Management of Household Chemical Products and Biocides, which sets up a government-level damage relief system in cases of harm caused by household chemical products, such as the humidifier disinfectant incident.
An amendment to the Act on Protection and Management of Wildlife, which establishes an import quarantine system to block the domestic inflow of diseases originating from wild animals, also passed the committee on the same day.
After concluding the Legislation and Judiciary Committee, the National Assembly will immediately hold a plenary session to approve major bills.
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