(1) Reasons for Proposal

The current Act imposes regulations on facilities in such a way that a motor vehicle transaction business, whether it is online or offline, shall be equipped with exhibition facilities and offices, thereby undermining efforts to boost new industries using information and communication technologies, such as online transactions of used motor vehicles which do not require exhibition facilities, etc.

In response, the Motor Vehicle Management Act was amended (promulgated by Act No. 14950, Oct. 24, 2017, and to be enforced on Oct. 25, 2018) to establish the online used motor vehicle transaction business (which provides information on online transacitons of motor vehicles), and to provide the grounds for easing unnecessary regulations on facilities.

Accordingly, this Amendment aims to determine matters legally delegated and necessary for the enforcement thereof such as the standards for registration of information on online motor vehicle transactions.

(2) Major Provisions

A. Prescribe the procedures for giving an improvement order to providers of information on online motor vehicle transactions (Article 13)

Specify procedures and execution period where the head of a Si/Gun/Gu intends to give an order of improvement on business to providers of information on online motor vehicle transactions to prevent damage to users

B. Specify the standards for registration of the provision of information on online motor vehicle transactions (newly insert Article 13-4)

Replace unnecessary facility guidelines imposed on the current transaction business such as required exhibition facilities with the minimum capacity of a server in consideration of the nature of online business, and specify matters that shall be registered for modification with a registration agency where a provider of information on online motor vehicle transactions has already modfied registration matters.