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South Korea Enacts Franchise Legislation

The recently enacted South Korean Act on Fairness in Franchise Transactions (AFFT) went into effect on Nov. 1, 2002. According to the Korean government, the purpose of the AFFT is to establish 'fairness in franchise transactions and promote balanced and mutually complementary development on even terms between a franchisor and a franchisee for purposes of advancement of consumer welfare and a sound national economy.'

6 minute read September 13, 2003 at 09:19 PM
By
Michael G. Brennan
South Korea Enacts Franchise Legislation

The recently enacted South Korean Act on Fairness in Franchise Transactions (AFFT) went into effect on Nov. 1, 2002.

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