Korea Consumer Agency's President Participating in

G20 Consumer Summit

- Securing consumer reliability and fostering fair markets in the digital era -

    President of Korea Consumer Agency, Han kyeon-pyo will participate in “G20 Consumer Summit” in Berline, Germany for two days starting from 14th March. The topic of summit is “creating an environment where consumers feel reliability”. The president Han will present the current situation of e-commerce of Korea(digital advanced country) and the importance of securing consumers’ reliability by fostering fair markets in order to revitalize economy.

    “G20 Consumer Summit” is to emphasize the importance of strengthening consumers’ protection and capabilities in the digital economy on the occasion of the World Consumer Rights Day(15th March) by Germany which was the chairman of the 12th G20 Summit. G20 Consumer Summit is cohosted by Federal Ministry of Justice and Consumer Protection, Consumer International and Federation of German Consumer Organisation.

    With active discussions and expectations over the 4th Industrial Revolution, securing consumers’ reliability for economic revitalization has been recognized as a main task. Consumers should put confidence on services and business models of digital environments so that digitalization serve as a core engine for innovation, growth and employment. Preemptive responses and fair market environments are required to handle new types of consumer issues which is based on digitalization.

    The Korea Consumer Agency has conducted research on the introduction of products with new technology including 3D printing, artificial intelligence(AI), self-driving cars and harmonization of consumer legislations. It has also made an effort to come up with measures to improve consumer issues and to expand global cooperation to redress consumer damage from a cross-boarder transaction.

    The president of KCA said “it is important to cooperate with stakeholders in various fields including governments, related organizations, consumer agencies and businesses to secure consumer confidence” and “actively engages in cooperative discussions to resolve the development of global consumer policy and consumer issues”.

    The president is scheduled to meet the chief executive of Hong Kong Consumer Council on the sideline of G20 Consumer Summit to sign a MOU for handling consumer disputes in Korea and Hong Kong.