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* Date : 2017-10-10

The Kim Young-ran Law
The Kim Young-ran Law, which is changing the holiday atmosphere

The ban on bribery to public officials, the so-called "Kim Young-ran Law," has changed the holiday atmosphere. The Kim Young-ran Law, which took effect starting on September 28 of last year, came with the Chuseok holiday season, and the pattern in the change of the holiday gift is clear. The biggest change is the big increase in consumers looking for gifts priced less than 50,000 won. The reason is because of the Kim Young-ran Law’s '3.5.10 rule'. Public officials, journalists, and private school staff members can on receive meals up to 30,00 won, 50,000 won for gifts, and 100,000 won for tribute pay. As a result, gift sales of less than 50,000 won for each retailers have surged. From the price to the item selection, the Kim Young-ran Law has changed the holiday culture. The Kim Young-Ran Law, which has been implemented for one year now, has changed every corner of our society, little by little.

Aftermath of the Kim Young-ran Law

After a long debate over the Kim Young-ran Law, the act was implemented on September of last year, and has had a positive effect over the past year. The most positive effect of the Kim Young-ran Law is in the education sector. As the "briberies" that the parents gave to the teachers disappeared, neither the parents nor the teachers needed to worry about such issue. Some companies have even said that the entertainment costs have been reduced. However, not all agree with the current Kim Young-ran Law. In the agriculture and livestock industry, they are demanding an amendment of the Kim Young-ran Law because the sale of agricultural and livestock products have plummeted. With this, the opposition party recently held a press conference, calling for the revision of the Kim Young-ran Law ... as this week, we will look at the Korean society that has undergone both big and small changes in the first year of the Kim Young-Ran Law.

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