'Food Delivery Platform Act' and Other Domestic Platform Regulation Bills, Korea-U.S. Trade Risks to Be Reviewed at National Assembly Seminar on Nov. 13

Amendments to the Mutually Beneficial Cooperation Act, the Online Platform Act, and the Food Delivery Platform Act

Reviewing Key Issues and Exploring Policy Alternatives

Marking the First Anniversary of the Korea-U.S. Joint Fact Sheet

A seminar will be held at the National Assembly to examine issues surrounding legislation regulating domestic platform companies, including the proposed Act on Food Delivery Platform Service Fees (the “Food Delivery Platform Act”) and amendments to the Act on the Promotion of Mutually Beneficial Cooperation between Large Enterprises and Small and Medium Enterprises (the “Mutually Beneficial Cooperation Act”), and to assess the risks these measures could pose to the Korea-U.S. trade environment.

Rep. Choi Sujin of the People Power Party said on Nov. 5 that her office would host the seminar, titled “Legislative Efforts on Platform Cooperation and the Food Delivery Platform Act: Are Trade Risks Being Managed? A One-Year Review of the Korea-U.S. Joint Fact Sheet and Discussion of the Way Forward,” at 2 p.m. on Nov. 13 in Conference Room 5 of the National Assembly Members’ Office Building.

Baemin and Coupang Eats stickers are displayed at a restaurant in Seoul. Photo by Kang Jinhyung

The seminar was organized to mark the first anniversary of the “Joint Fact Sheet,” a document released following last year's Korea-U.S. summit, and to examine the effects that domestic legislative efforts to regulate online platforms could have on Korean businesses and the Korea-U.S. trade environment.

Regulatory bills targeting platform companies, including the Food Delivery Platform Act and amendments to the Mutually Beneficial Cooperation Act, have recently been under discussion in the National Assembly. The National Policy Committee is reviewing bills related to online platforms and regulations on delivery platform fees, while the Trade, Industry, Energy, SMEs and Startups Committee is considering regulations on online platform operators, including through amendments to the Mutually Beneficial Cooperation Act.

Amendments to the Mutually Beneficial Cooperation Act, sponsored by Rep. Song Jaebong of the Democratic Party of Korea in August, include provisions allowing the minister of SMEs and Startups to investigate and announce findings on platform fees, settlement periods and unfair practices, and to request action from the Fair Trade Commission. They also include provisions to establish an online platform co-growth index and a mutual cooperation council.

The platform industry has criticized the amendments as indirect legislation intended to replace the proposed Act on the Fairness of Online Platform Intermediary Transactions. It has also voiced concerns about overlapping regulations, the potential exposure of trade secrets, and possible reverse discrimination resulting from differences in regulatory enforcement between domestic and foreign businesses. With U.S. trade pressure adding to these concerns, the legislative efforts now require careful review.

Lee Seongyeop, a professor at Korea University's Graduate School of Management of Technology, will moderate the seminar. Jeon Sunhwan, a professor in the Department of International Trade at Joongbu University, and Jeong Yeonseung, a professor in the School of Business at Dankook University, will deliver presentations. Designated discussants will include Seo Jonghee, a professor at Yonsei University's School of Law; Oh Seonyeong, a professor in the Department of International Trade at Soongsil University; Lee Sudam, managing partner and attorney at Sudam Law Office; and officials from the Ministry of Trade, Industry and Energy, the Ministry of SMEs and Startups, and the Fair Trade Commission.

Participants will discuss key issues in platform regulation, including the Food Delivery Platform Act and amendments to the Mutually Beneficial Cooperation Act, as well as the possibility of Korea-U.S. trade friction and the effects of changes in trade policy on domestic businesses. They will also exchange views on reasonable regulatory and policy approaches that can balance innovation in the platform industry with the protection of small business owners.

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