South Korea seeks to reform penalty rules under Large Retail Business Act
( August 27, 2026, 02:42 GMT | Official Statement) -- MLex Summary: South Korea’s competition regulator proposed changes to penalty rules under the Act on Fair Transactions in Large Retail Business to make monetary penalties better reflect the scale of violations and strengthen deterrence against repeat offenses. The Korea Fair Trade Commission said Thursday that it issued a legislative notice on proposed amendments to the enforcement decree of the Act and subsidiary penalty rules. The regulator will receive public feedback on the proposed changes until Sept. 16 for the subsidiary penalty rules and Oct. 6 for the decree. The KFTC said it found that fixed-amount penalties had been imposed in a large number of cases and aims to increase the use of percentage-based penalties, which are calculated based on the scale of individual violations. To strengthen deterrence, the regulator also plans to raise minimum penalty levels and increase penalties for repeat violations. The statement is attached (in Korean)....
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