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KFTC Begins to Enforce the Amended Consumer Dispute Resolution Standard to Reinforce Consumer Protection
On October 26, 2016, the Korea Fair Trade Commission (the “KFTC”) announced that it would enforce its amendment to the Consumer Dispute Resolution Standard (the “Standard” or such amendment the “Amendment”).
The Standard provides the criteria for the resolution of disputes between consumers and enterprises for each product / service and/or type of such dispute¹. Unless the parties expressly agreed otherwise, the Standard served as the basis for a consensus on – or recommendation for – dispute resolution.