Here is an update on the government’s efforts to curb the hours of operations of mega-stores in Korea in order to save traditional and small family markets from closure:
The revision bill of the Distribution Industry Development Act was passed by the Knowledge Economy Committee of the National Assembly on Nov. 16. According to the bill, the compulsory closing day for super supermarkets can be extended to three days a month at maximum and the limitations on business hours can be increased by four hours over existing limitations. The Distribution Industry Development Act, considered a primary bill related to economic democratization, will now go to the plenary session of the National Assembly in a greatly strengthened form. The revised bill decided on by the Knowledge Economy Committee expanded the current compulsory closing day for big-box retailers, or super supermarkets (SSMs), of “more than one day but no more than two days a month” to “more than one day but less than three days a month.” The obligatory cessation of business from midnight to 8 a.m. may be increased to 10 p.m. to 10 a.m. [Hankyoreh]
You can read the rest at the link, but I can’t help but imagine what the fight would be like if some politicians in the US try to limit the hours of the big box stores like Wal-Mart in an effort to help small business owners?