1. Reasons for Amendment

As the Special Act on the Development of Traditional Markets and Shopping Districts (hereinafter referred to as the “Act”) (on Apr. 18, 2023) was revised, 4. this amendment aims to stipulate matters delegated by Presidential Decree, such as important matters that need to be registered for change among registered items of member stores, methods for applying for registration renewal before the expiry of the validity period of member shop registration, and procedures for canceling registration, and matters necessary for the enforcement of the Act.

2. Major Provisions

A. Stipulate “important matters determined by Presidential Decree” in the latter part of Article 26-4 (1) of the Act as the information that can identify a member shop and confirm whether the location of a business is within a district such as a market (Article 9-15 newly inserted) 

B. Stipulate that for application, etc., of registration renewal that shall be prescribed by Presidential Decree in Article 26-4 (6) of the Act, an application for renewal of member store registration shall be prepared and submitted to the Minister of SMEs and Startups, as prescribed by Ordinance of the Ministry of SMEs and Startups, applying mutatis mutandis the method and procedure for application for member store registration (Article 9-17 newly inserted) 

C. Stipulate that the relevant merchants or merchant organizations shall be notified of  the procedures, etc., for deregistration prescribed by Presidential Decree in Article 26-6 (6) of the Act to prevent confusion due to deregistration (Article 9-20 newly inserted)  

D. Stipulate that newly established authority, administrative fines imposed on member stores, etc., related to member store registration shall be delegated to the head of a regional SMEs and Startups office such as the registration or cancellation of a member store, for efficient enforcement (Article 33-2)