Republic of Korea: Adopted Bill no. 2123203 amending the Basic Consumer Act

On 25 January 2024, the Bill no. 2123203, amending the Basic Consumer Act, was adopted by the National Assembly of South Korea. The Bill empowers the Fair Trade Commission (FTC) to conduct fact-finding surveys and announce the results to promote consumer rights and interests. The FTC can request necessary data or opinions from relevant consumer groups, business operators, business groups, relevant administrative agencies, and public institutions during its investigation. The Bill also allows the FTC to entrust the fact-finding work to the Korea Consumer Agency or related corporations or organisations if necessary.