Republic of Korea: Adopted amendments to the Fair Transactions in Large-scale Retail Business Act (Bill No. 2123298)

On 18 July 2023, the National Assembly of Korea adopted amendments to the Fair Transactions in Large-scale Retail Business Act (Bill No. 2123298). The Bill would require the appointment of a permanent member in the Dispute Resolution Council by the chairman of the Fair Trade Commission to enable the processing and resolution of dispute cases. Furthermore, the Bill would prohibit large-scale distributors, such as e-commerce platforms, from interfering with the management activities of their business users by unfairly using their dominant position in the market or requiring their affiliates or other businesses to interfere. The thresholds for determining large-scale distributors will be established through a Presidential Decree. The Bill now goes to the executive for signing into law and will come into force 6 months after its promulgation.