Tough anti-corruption law takes effect in South Korea

By: | Published: September 28, 2016 1:24 PM

A tough new anti-graft law came into force in South Korea today with many hailing it as a milestone to help root out widespread low-level corruption. Dubbed the Kim Young-Ran law after the former supreme court judge who drafted it, the sweeping legislation covers some four million public servants and employees of education institutions in the country of 50 million.

We believe that the law will be a turning point to create a fair, clean society  and to enhance our national integrity. (Source : Reuters)

A tough new anti-graft law came into force in South Korea today with many hailing it as a milestone to help root out widespread low-level corruption. Dubbed the Kim Young-Ran law after the former supreme court judge who drafted it, the sweeping legislation covers some four million public servants and employees of education institutions in the country of 50 million.

The law targets teachers bribed by parents to give better grades, journalists paid to give favourable publicity and officials bought off by businessmen to speed up bureaucratic processes.

They are now banned from accepting gifts worth 50,000 won (USD 45) or more, or meals of 30,000 won or more, with offenders facing hefty fines or even a prison term.

The law even prohibits the common practice among doctors and other workers at university hospitals of offering favourable treatment to personal acquaintances, including expedited scheduling of surgery.

In the past, many people charged with receiving bribes got away with a slap on the wrist.

“We believe that the law will be a turning point to create a fair, clean society … and to enhance our national integrity,” presidential spokesman Jung Youn-Kuk told reporters today.

The law however drew complaints from local businesses and restaurants who feared sales would slump. Some restaurants recently introduced “Kim Young-Ran menus” priced at 29,900 won or less.

A mobile app was even launched recently to help people look up whether they are a target of the law as well as the details of the legislation.

South Korea — the world’s 11th biggest economy and the Asia’s fourth largest — has fared relatively poorly in corruption or transparency levels.

Last year it was ranked 37th in the World Corruption Perceptions Index and 123rd in transparency in public policymaking in the Global Competitiveness Report by the World Economic Forum.

Bribery scandals involving politicians or high-level officials and rich businessmen have been fixture in South Korean politics for decades.

Local media organisations have been under criticism for years for removing or dismissing stories that are damaging to big advertisers.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition