Consumers Allowed Class Action from Next Year
Legal World
Come 2008, consumers in Korea will be able to take class action to curb illegal activities by corporations.
The government has designated 13 organizations, including nine consumer groups and four economic institutes, such as the Federation of Korean Industries, to handle the job.
Non-profit private organizations with requests for a lawsuit from more than 50 people can also file if they meet certain conditions.
To that end the Fair Trade Commission and the Korea Consumer Agency are looking to hire lawyers to support legal procedures related to filing a lawsuit.
The Ministry of Finance and Economy says the new law will urge companies not to infringe on consumer rights so as not to hurt their image.
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