Provide the guidelines for suspending business and revoking registration pursuant to the Motor Vehicle Management Act providing administrative disposition issued against providers of information on motor vehicle transactions who commit illegal acts such as a failure to execute an improvement order and violations of business scope

(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 guidelines for issuing administrative dispositions with regard to the provision of information on online motor vehicle transactions.

(2)Major Provisions

A. Prescribe guidelines for issuing administrative dispositions with regard to the provision of information on online motor vehicle transactions (attached Table)

Prepare guidelines for suspending business and revoking registration for illegal acts such as a failure to execute an improvement order, etc.