Republic of Korea: Opened consultation on amendments to the enforcement decree of the Large-scale Retail Business Act

On 6 October 2023, the Korean Fair Trade Commission (FTC) published the proposed amendments to the enforcement decree of the Large-scale Retail Business Act and opened a public consultation until 15 November 2023. The FTC, headed by Ki-jeong Han, proposes a revision of the Enforcement Decree of the Large-Scale Distribution Business Act to define the types and standards for intervening in business activities. The amendments include the introduction of new specific types of acts that will be classed as interfering with management activities under the Act, raising the maximum limit for fine reductions, and implementing procedures for relevant courts regarding dispute mediation.