Republic of Korea: Korea Fair Trade Commission opened consultation on payment practices in e-commerce

On 11 February 2025, the Korea Fair Trade Commission (KFTC) initiated a consultation to examine payment deadlines in the e-commerce sector across 139 retail brands and their suppliers until 13 March 2025. The inquiry aims to assess current payment practices, explore procedural methods, and gather industry opinions on suitable payment deadlines for various transaction types. The KFTC will analyse the survey responses and publish the findings by May 2025, using them as a basis to evaluate the adequacy of existing regulations and potential policy improvements.