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Republic of Korea: Implemented Law no. 20301 amending the Basic Consumer Act

Policy overview

Description

Implemented Law no. 20301 amending the Basic Consumer Act

On 14 August 2024, the Law no. 20301 amending the Basic Consumer Act entered into force. The law empowers the Fair Trade Commission (FTC) to conduct fact-finding surveys and announce the results to promote consumer rights and interests. The FTC can …

Scope

Policy Area
Competition
Policy Instrument
Competition authority governance
Regulated Economic Activity
cross-cutting
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2023-07-12
under deliberation

On 12 July 2023, the Bill no. 2123203, amending the Basic Consumer Act, was introduced in the Natio…

2024-01-25
adopted

On 25 January 2024, the Bill no. 2123203, amending the Basic Consumer Act, was adopted by the Natio…

2024-02-13
adopted

On 13 February 2024, Bill no. 2123203, amending the Basic Consumer Act (Law no. 20301), was signed …

2024-08-14
in force

On 14 August 2024, the Law no. 20301 amending the Basic Consumer Act entered into force. The law em…