South Korea’s Act on the Prevention of Corruption 2018 – A Milestone in Combating Corruption

Summary:

The Act on the Prevention of Corruption 2018 is a landmark legislation in South Korea aimed at combating corruption. The Act outlines anti-corruption measures, including background checks and whistleblowing mechanisms, and imposes stringent penalties on individuals and entities involved in corrupt practices. Since its enactment, the Act has had a significant impact on governance and corporate behavior, leading to increased accountability and transparency. However, the Act faces challenges, including a lack of awareness and education among citizens and organizations, and Implementation at the grassroots level remains a hurdle. Overall, the Act is a milestone in South Korea's fight against corruption, but its success will depend on its effective implementation and cultural change in the long run.