The Global Relevance of South Korea’s Framework Act on Electronic Documents and Transactions 2002

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Summary:

South Korea's Framework Act on Electronic Documents and Transactions 2002 has both domestic and global significance. The Act recognizes electronic documents, provides for digital signatures, and prioritizes security measures, aligning with global standards. It serves as a benchmark for other countries developing electronic transaction laws, facilitates cross-border transactions, and sets a high standard for digital transaction security protocols. The Act is a progressive piece of legislation that makes South Korea a leader in digital governance, with implications for international digital commerce and governance.