“We need to set up effective E-Commerce Act that can deal with 21st century e-commerce market.” said Chairman Kim Sang-jo of Fair Trade Commission (FTC).
Chairman Kim made such statement during his congratulatory message at ‘E-Commerce Act Revision Plan Debate’ held by Jeon Jae-soo, a member of Democratic Party of Korea, and Consumers Union of Korea at National Assembly Member’s Office Building.
“E-commerce market was worth over $88.7 billion (100 trillion KRW) in 2018. Percentage of mobile e-commerce is over 60% as Smartphones have become generalized and as 5G mobile network has been established.” said Chairman Kim. “Current E-Commerce Act that is limited to the past PC generation cannot deal with current markets.”
“We cannot delay entire revision of E-Commerce Act anymore.” said Chairman Kim. “I expect a new and effective law that corresponds to new e-commerce market to be made.”
Staff Reporter Yoo, Seonil | ysi@etnews.com