[Consultation] Review of potential violation of the Act on Prohibition of Improper Solicitation and Use of Private Gain related to journalist meeting

“While holding a press meeting, wouldn't it be okay to offer reporters a cup of coffee?” This was the question asked by the public relations manager of company A, which conducts fintech business, after much deliberation, seeking help from Veat. Many companies are experiencing confusion regarding the recently implemented Act on the Prohibition of Improper Solicitation and Gift-Giving, (so-called Kim Young-ran Act). The Kim Young-ran Act defines its scope of application not only to public officials and employees of public institutions, but also to school faculty and journalists, and because it contains many vague portions, it is difficult for companies to easily understand how they might inadvertently violate the law.

Veat, referencing the provisions of the Act on the Prohibition of Improper Solicitation and its Enforcement Decree, the purpose of the legislation, and even press releases and Q&A contents from the Anti-Corruption and Civil Rights Commission, informed company A about the scope of gifts that the company, as the subject of the press coverage, could provide during a press meeting. Thanks to this, company A was able to comply with the newly implemented Act on the Prohibition of Improper Solicitation while maintaining smooth communication with reporters and also received advice on how to improve their PR work processes.

Veat provides advice based on a thorough understanding of the latest legislation, such as the Act on the Prohibition of Improper Solicitation, which can affect corporate management, and can help preemptively identify legal risks that may arise in management.

Thank you.

Law firm Veat