Increase of Maximum Fine to 100 Million KRW for Deep Sea Water Manufacturers

Passage of Partial Amendment to the Enforcement Decree of the Act on Development and Management of Ocean Deep-sea Water at the State Council Meeting

Ministry of Oceans and Fisheries: "To Enhance the Effectiveness of Imposing Surcharges"

[Asia Economy Reporter Joo Sang-don] The standard amount for surcharges imposed on manufacturers of deep ocean water and others will be raised to a maximum of 100 million KRW.

The Ministry of Oceans and Fisheries announced on the 18th that four partial amendments to enforcement ordinances, including the "Enforcement Decree of the Act on the Development and Management of Deep Ocean Water," were passed at the Cabinet meeting and will take effect from the 19th.

First, according to the partial amendment to the Enforcement Decree of the Act on the Development and Management of Deep Ocean Water, the daily surcharge standard amount for deep ocean water business operators will be doubled for each annual sales bracket compared to the current amount, allowing surcharges of up to 100 million KRW. This amendment raises the upper limit of surcharges imposed in lieu of business suspension on manufacturers of drinking deep ocean water, etc., to enhance the effectiveness of surcharge imposition.

The partial amendment to the "Enforcement Decree of the Act on the Creation and Management of Marina Ports" was also passed. Due to the nature of marina businesses, which involve irregular and frequent vessel entries and exits, marina vessel rental operators previously had no obligation to report vessel entries and exits, making it difficult to track vessel movements and crew information. Going forward, to ensure the safety of marina vessels through clear information tracking, a new obligation was established earlier this year requiring marina vessel rental operators to record and manage vessel entries and exits and to prepare and submit boarding reports. Detailed standards for imposing fines for violations of these obligations have now been set. Previously, a surcharge of 2 million KRW was imposed for failing to conduct safety inspections of marina port facilities, but from now on, fines of 900,000 KRW for the first violation, 1.5 million KRW for the second, and 2.4 million KRW for the third will be imposed.

Shin Jae-young, Regulatory Reform Legal Officer at the Ministry of Oceans and Fisheries, said, "With this legal revision, fines and surcharges will be adjusted to more reasonable and appropriate levels, which is expected to enhance the effectiveness of policies related to public health and safety."

This content was produced with the assistance of AI translation services.