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

Description

Implemented amendments to the Fair Transactions in Large-scale Retail Business Act (Bill No. 2123298)

On 8 February 2024, the National Assembly of Korea implemented the amendments to the Fair Transactions in Large-scale Retail Business Act (Bill No. 2123298), six months after its promulgation on 8 August 2023. The Bill requires 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 prohibits 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.

Original source

Scope

Policy Area
Competition
Policy Instrument
Unilateral conduct regulation
Regulated Economic Activity
platform intermediary: e-commerce
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2023-04-06
under deliberation

On 6 April 2023, Amendments to the Fair Transactions in Large-scale Retail Business Act, Bill No. …

2023-07-18
adopted

On 18 July 2023, the National Assembly of Korea adopted amendments to the Fair Transactions in Larg…

2024-02-08
in force

On 8 February 2024, the National Assembly of Korea implemented the amendments to the Fair Transacti…