Korean Product Liability Act Amended to Include Punitive Damages & a Relaxed Burden of Proof

The Amended Product Liability Act of Korea was published in April of 2017.  This Korean Product Liability Act shall be promulgated in April of 2018.   The major amendments to the Act are: Allows Judges to Award Punitive Damages; and  Lowers the Burden of Proof. Punitive Damages in Product Liability Cases in Korea The present Korean Product Liability Law limits damage to the actual damages incurred, thus, not allowing a judge to award punitive damages. This reality has led to few product liability cases being prosecuted by consumers, because of the conservative calculation of “actual damages” in Korea and, thus, a belief suing, in Korea, large manufacturers leads to nothing but a legal bill and a small damage award.   The Amended Korea Product Liability Law, however, allows a judge to grant punitive damages if: (a) the manufacturer of the product in question had knowledge of the defect; (b) the

Continue reading