1. Reasons for Amendment

The Act on the Promotion of Mutually Beneficial Cooperation Between Large Enterprises and Small and Medium Enterprises was amended (promulgated on January 3, 2023; to be enforced on October 4, 2023) in relation to variable prices of delivered goods and accordingly, this Amendment prescribes matters delegated by Presidential Decree.

2. Major Provisions

A. Prescribe matters to be stated by commissioning enterprises in written agreements in relation to variable prices of delivered goods (Article 14 (1)).

B. Specify the term of transactions of goods on consignment and commission and the price of delivered goods for which commissioning enterprises are not required to state matters concerning variable prices of delivered goods in written agreements (Article 14 (3) and (4)).

C. Authorize the heads of regional SMEs and startups offices to conduct investigations and issue dispositions following requests for dispute mediation in relation to variable prices of delivered goods (Article 27 (3)).

D. Prescribe criteria for imposing and reducing penalty points in relation to variable prices of delivered goods (Table 3).

E. Prescribe criteria for imposing administrative fines, etc. in relation to variable prices of delivered goods (Table 4).