• Title/Summary/Keyword: UK Bribery Act

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The UK Bribery Act 2010 and Measures Needed for Korean Multinational Corporations in the Era of Korea-EU FTA (영국 뇌물수수법(UK Bribery Act 2010) 시행에 따른 한-EU FTA 시대에 한국 다국적기업의 대처방안 관한 연구)

  • Bae, Sungho
    • International Commerce and Information Review
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    • v.16 no.3
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    • pp.253-273
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    • 2014

  • The Korea-EU FTA has substantially escalated the volumes of South Korea's export and investment in the United Kingdom since its ratification. Coupling with the FTA effect, the ease of doing business in the United Kingdom will increase even more trade and investment by South Korean multinational corporations. In the meantime, the UK Bribery Act 2010 was enforced to end bribery by individuals and business entities which have close connection with the United Kingdom. The punishment of violating the Act is severe than ever because of "unlimited" fine. Without fully understanding the Act and have compliance measures as described in the Guidance issued by the UK Ministry of Justice, South Korean corporations may risk its whole business. Therefore, this paper will analyze the UK Bribery Act in details to provide critical implications for South Korean corporations under the Korea-EU FTA.

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