South Korea looks to protect small retailers with OK of new restrictions
AFPSEOUL -- South Korea's government approved Tuesday a national law restricting the operating hours of large retailers in a bid to protect small stores who say they are being pushed out of business.
January 16, 2013, 12:15 am TWN
The law, which will start to come into effect after three months, requires warehouse-style chains to shut stores on two Sundays a month and to limit their operating hours to 10 a.m. to midnight.
The Sunday closure rule has already been adopted by many city councils, including the capital Seoul, although several top retailers have fought it in the courts, claiming discrimination.
Last October, Seoul city officials cracked down on outlets of U.S. retail giant Costco, writing up a host of minor parking and safety breaches in apparent reprisal for the company's non-adherence to Sunday closing.
Protecting small merchants and mom-and-pop stores was one of the top campaign promises of President-elect Park Geun-hye, who will take office next month after winning December's election.