The Framework Act on Electronic Documents and Transactions 2002- Assessing Its Effectiveness

Summary:

The Framework Act on Electronic Documents and Transactions 2002 in South Korea has been effective in establishing legal recognition and security measures, with some success in using digital signatures. However, the Act is hampered by legal ambiguities, the lack of a universally accepted standard for digital signatures, and the need for periodic cybersecurity updates to keep pace with evolving threats. While the Act has achieved its objectives, it is recommended that it be updated or amended to address these challenges and maximize its effectiveness.