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South Korea announces sweeping measures on foreign online platforms to bolster consumer protection

( March 12, 2024, 23:00 GMT | Official Statement) -- MLex Summary: South Korea has unveiled a sweeping set of measures to tighten oversight of foreign online platforms, in response to a surge of consumer complaints amid the rapid growth of direct overseas purchases. The policy package, led by the Korea Fair Trade Commission, targets a wide range of platforms including Chinese e-commerce sites, global giants, social media marketplaces and online travel agencies and aims to bolster consumer protections by requiring major foreign e-commerce sites to comply with domestic regulations. Measures include stricter monitoring of product safety and fair-trade violations, mandating domestic representatives for consumer dispute resolution, blocking hazardous product listings, and auditing data-protection practices of foreign sellers.The statement, in Korean, is attached....

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