Fair Transactions News Today

Proposed Bill: Partial Amendment to the Act on Restriction on Special Cases Concerning Taxation Proposed by Rep. Park Dae-chul (People Power Party) ● In consideration of the high interest rates and rising number of stock investors in the current economic landscape, this amendment proposes to cancel the upcoming implementation of the financial income tax system and maintain the current capital gains tax system. This ...

Proposed Bill: Partial Amendment to the Act on Special Measures for Strengthening the Competitiveness of, and Protecting National High-tech Strategic Industries Proposed by Rep. Yang Hyang-ja (Hope of Korea) ● In response to demands to diversify and strengthen government support for specialized complexes and high-tech technologies, this amendment allows the state to directly create industrial infrastructure of speci...

Proposed Bill: Partial Amendment to the Software Promotion Act Proposed by Rep. Yoon Doo-hyun (People Power Party) ● This amendment aims to minimize quality problems in software projects by allowing companies to participate in public domain software projects based on capacity. It exceptionally allows large enterprises to engage in design and planning projects that are ordered separately from software development pro...

News has emerged that famous franchise CEOs in the food service industry were severely criticized during an inspection conducted by the National Assembly. Abuse of power and unfair contracts in the franchise sector have been continuously pointed out as chronic issues. At this juncture, a better understanding on franchises and the Fair Trade Commission is needed. We will examine the related issue with Jeong Yeon-jae, ...

Proposed bill: Partial Amendment to the Fair Transactions in Franchise Business Act Proposed by Rep. Yu Eui-dong (People Power Party) ● Under the current act, franchisers can designate goods or services vital for trademark protection as “essential items” and require their franchisees to trade these items with particular trading partners. However, a growing number of disputes have arisen between franchise...

Proposed bill: Partial Amendment to the Monopoly Regulation and Fair Trade Act Proposed by Rep. Kim Hee-gon (People Power Party) ● To clarify the standard for defining a “business group,” this amendment specifies the scope of business and extent of liability of the term “the same person.” Additionally, in response to the criticism of the excessive criminal penalties imposed on businesses who ...

Heads of the Korean units of Apple, Costco Wholesale, Nike, Adidas and multiple other foreign firms were selected as witnesses to testify about misconduct allegations involving their companies during the upcoming National Assembly audit this month, according to industry officials, Thursday.

Revenues up 23% YoY, with Total Adjusted EBITDA Increasing 183% YoY to $30.0 million ...

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Proposed bill: Partial Amendment to the Act on Promotion of Information and Communications Network Utilization and Information Protection Proposed by Rep. Hong Suk-joon (People Power Party) ● In response to increasing cybersecurity risks, there have been growing calls for the reinforcement of security functions in communication equipment. This amendment enables the Minister of Science and ICT to implement an informa...