Republic of Korea: Act on Consumer Protection in Electronic Commerce (Law No. 21312) including consent resolution mechanism enters into force

On 21 July 2026, the Act on Consumer Protection in Electronic Commerce (Law No. 21312) entered into force, 6 months after promulgation on 20 January 2026. The Act applies to businesses under investigation or review by the Korea Fair Trade Commission (KFTC) for violations of the Act. Under Article 32-2, a business under investigation may apply to the KFTC for a consent resolution, proposing corrective measures that satisfy the conditions set out in Article 32-2(3). A consent resolution does not constitute a finding that the conduct in question violated the Act. Under Article 32-3, failure to comply with a consent resolution without justifiable cause attracts an enforcement fine of up to KRW 2 million per day. Under Article 32-4, the KFTC may issue a temporary suspension order in respect of any act clearly constituting a violation of Article 21(1), item 1, that is causing or risks causing irreparable harm to a large number of consumers. The amendment to Article 39(3), which extends cross-references to the Monopoly Regulation and Fair Trade Act, will enter into force on 7 February 2027.