Republic of Korea: Announced Measures Related to Overseas Online Platforms framework including business registration requirements
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Description
Announced Measures Related to Overseas Online Platforms framework including business registration requirements
On 13 March 2024, the Fair Trade Commission (FTC) issued the Measures Related to Overseas Online Platforms framework at the Emergency Economic Ministers' Meeting chaired by the Deputy Prime Minister for Economic Affairs. The framework aims to ensure that domestic laws are enforced without discrimination, including strengthening surveillance for violations of the law by overseas online platforms and promptly dealing with any violations. In particular, the FTC announced that it would revise the Electronic Commerce Act to require overseas businesses over a certain size to register and designate a domestic agent.
Original sourceScope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Business registration requirement
Regulated Economic Activity
platform intermediary: user-generated content, platform intermediary: e-commerce, platform intermediary: other
Implementation Level
national
Government Branch
executive
Government Body
competition authority