Strengths and Weaknesses of South Korea’s Framework Act on Consumers 2008

Summary:

This document provides a mixed assessment of the South Koreau2019s Framework Act on Consumers 2008, 13 years after its enactment. The Act's strengths include its comprehensive coverage and institutional framework, which has effectively overseen and shaped consumer protection policies. However, the Act has weaknesses, particularly in its regulation of digital commerce and inconsistent enforcement, which hinder its effectiveness. While the Act has laid a strong foundation for consumer protection, its full potential is yet to be realized due to the emergence of new challenges in the digital economy.