□ On June 16, 2014, the Ministry of Government Legislation (hereinafter referred to as MOLEG)(the Minister, Jung-boo Je), and the Ministry of Justice of Kazakhstan signed MOU for "legislative interchange and co-operation" ㅇ This signing ceremony was followed after a summit meeting with presidents of the two countries, Jung-boo Je, the Minister of MOLEG and Imashev Mazhitovich, the Minister of Ministry of Justice of Kazakhstan signed. □ The main purpose of this MOU is to prepare basis of legislative interchange and co-operation, of which content consists of 'Strengthening personal network', 'exchange of legal information and publications' and 'sharing the experience of Legal Information Technology', etc. □ Meanwhile, MOU has discussed the method to enlarge legal interchange between two countries since we stated legal information exchange with the Kazakhstan legal organization last year. ㅇ On June 16, MOLEG also signed MOU with Kazakh Humanities and Law University which is a major beforehand research/review institute of legislation by Assembly members. □ MOLEG, with this MOU as a momentum, has a plan on intensifying legislative cooperation with Eurasia countries and on spreading Korean legislation waves to all of the world actively through sharing legislative experiences with Asian countries.

Laying Legal Foundation to Make Korea an Advanced Country in Green Growth - Promulgation and Enforcement of the Enforcement Decree of the Framework Act on Low Carbon, Green Growth - * Enforcement of such act by the Republic of Korea ("ROK") ahead of developed countries including the US, Australia, and Japan *Introduction of a greenhouse gas ("GHG") management scheme (Ministry of Environment responsible for overall management of the national/business GHG inventory) * Designation of a single government agency for each area to prevent redundant regulation of GHG emitting entities As a follow-up measure of the promulgation of the Framework Act on Low Carbon, Green Growth on January 13, its Enforcement Decree is promulgated on April 13 and enters into effect on April 14. The Ministry of Government Legislation has published English versions of the Act and its Enforcement Decree for distribution to foreign correspondents, foreign-invested companies, etc. and also makes them available at its webpage. (See the attached file) < Framework Act and its Enforcement Decree on Low Carbon, Green Growth in Korea > Promulgation and entry into force of the Enforcement Decree of the Framework Act on Low Carbon, Green Growth are of great significance since they complete the process to lay the legal basis for green growth in accordance with enactment of the Act. While the Act promulgated earlier sets forth the basic principles of low carbon, green growth and establishes a large framework of relevant policies for fostering green technology and industries, responding to climate change, controlling energy targets and promoting green life and sustainable development, etc., its Enforcement Decree provides for matters delegated by the Act as well as details necessary for implementation thereof, laying down an institutional framework for implementation of low carbon, green growth policies. Enforcement of such act by the ROK ahead of such countries as the US, Australia, and Japan demonstrates to the international community the nation‘s unflinching determination to press for ‘low carbon, green growth’ as its new national vision. Such endeavor is expected to help the ROK take the initiative for green growth on the international stage in the future. Major details of the Enforcement Decree are summarized as follows: - The Enforcement Decree explicitly sets up the country‘s mid-term target for GHG reduction at the level of 30% below the business-as-usual projection by 2020. (Article 25) - For attainment of such goal, the Enforcement Decree specifies a GHG management system where the Ministry of Environment oversees and coordinates the national/business GHG inventory and competent agencies compile statistics on different areas (e.g. Ministry of Knowledge Economy: industry and power generation; Ministry of Land, Transport and Maritime Affairs: buildings and transport; Ministry for Food, Agriculture, Forestry and Fisheries: agriculture and livestock farming; Ministry of Environment: wastes). (Articles 26 through 36) - The Enforcement Decree sets out the standards whereby entities emitting green house gases or consuming energy in certain quantities are designated as controlled entities while ensuring no duplicate regulation on controlled entities by having a single competent agency to regulate controlled entities by area. l Ministry of Environment: Overall supervision (installation of the GHG Information Center), external representation, support for establishment of GHG reduction targets by area, and review and assessment of controls by competent agencies l Competent agencies: Designation of controlled entities, establishment of targets, and report, review, and assessment of performance - Under the Enforcement Decree, the Ministry of Knowledge Economy and the Ministry of Environment shall respectively determine the standards for fuel efficiency and GHG emissions for automobiles. At the same time, the Enforcement Decree empowers the Ministry of Environment to manage these standards in a coordinated way in order to prevent any redundancy in regulation on automakers. - In addition, the Enforcement Decree provides for the green certification procedures to support green growth (Article 19) and stipulates the requirements for designation as green industries investment companies (Article 17) and promotion of purchase of green products by public institutions (Article 20). So far, industries have called for establishment of a GHG management scheme with no duplicate regulation. In drafting the bill, the Korean government is believed to have made an effort to build a GHG management system that efficiently attains the national mid-term targets for GHG reduction and does not impose any excessive burdens on the industries, which ultimately led to a reasonable solution. With the entry into force of the Framework Act on Low Carbon, Green Growth, the Korean government plans to pursue, in earnest, low carbon, green growth policies commensurate with its stature as a leader in green growth, making additional amendments to environment and energy laws in a manner consistent with the purport of the Act. Examples of Legislation Planned by the Korean Government: Enactment of the Emission Trading System Act (to be submitted to the National Assembly before July 31), partial amendment to the Energy Use Rationalization Act (before August 15), partial amendment to the Clean Air Conservation Act (before August 20), and the Special Act on Establishment of and Support for Smart Grid (before September 15), etc.