Along with the reputation of strong IT country, Korea has been proactive in preparing the Act on the Consumer Protection in the Electronic Commerce Transactions. Korea adopted ‘OECD Guidelines for Consumer Protection in the Context of Electronic Commerce’ and prepared the guidelines for consumer protection in electronic commerce.  In the following year, the Act on the Consumer Protection in the Electronic Commerce Transactions was established.

Recently, as the electronic transaction markets for consumer protection underwent fast changes, Korea reflected the trend and revised the relevant regulations having introduced the Escrow system in 2006.  On the other hand, the revised Act has been notified on September 17, 2008 announcing the internet sales brokers’ stronger lawful duties.      

The major modified details are as follows: the internet sales brokers need to clarify that they are not the actual internet sellers, and they shall give the sellers’ information to consumers while retaining the legal responsibility for consumer damages from the provision of wrong information.

Over the last few years, many Korean consumers have suffered from the responsibility issues that arose between internet sales brokers and the actual sellers in open markets. The revision of the related Act is expected to be able to solve the problem in terms of consumer damage redress. The Act will be notified for a certain period and brought to the National Assembly at the end of the year.