KEF Welcomes "Rationalization of Economic Criminal Penalties"... Expects Alleviation of Criminal Risks

The Korea Employers Federation on December 30 positively evaluated the government's and the ruling party's announcement of the "Second Plan for Rationalizing Economic Criminal Penalties," stating, "We expect that criminal risks for business owners may be somewhat alleviated."

The Federation commented, "We assess that this plan is the result of efforts to reflect the opinions of the business community in order to improve excessive economic criminal penalties that have discouraged corporate activity."

It added, "As it was announced that a total of 441 economic criminal penalties will be improved through the first and second phases, we request that the relevant regulations be revised as quickly as possible so that the business community can tangibly experience the effects."

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