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Corruption watchdog open to revising controversial anti-graft law

All News 10:27 January 11, 2017

SEOUL, Jan. 11 (Yonhap) -- South Korea's corruption watchdog on Wednesday hinted it is open to revising the anti-graft law that was implemented last year, amid concerns the rules are adversely hurting the local economy.

The Anti-Corruption & Civil Rights Commission said the existing price ceiling on hospitalities exchanged by those in occupations that call for higher ethical standards is not fixed and can be changed depending on social and economic circumstances.

Under the so-called Kim Young-ran Law, launched in September, people working for the government, media outlets and schools are banned from receiving meals priced higher than 30,000 won (US$25), gifts exceeding 50,000 won, and congratulatory and condolence money over 100,000 won.

The commission said it acknowledges that some businesses have been asking to revise up the limit ceiling in the face of falling sales.

"We will cooperate with related authorities, and watch its impact on society and the economy closely," it said.

The watchdog has been hesitant to revise the anti-graft law in line with its efforts to root out corruption and excessive gift-giving.

There has been a growing voice from local businesses calling for a revision, with some claiming the law deals a harsh blow to consumption at a time of weak economic growth.


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