Proposed Reform of the Korean Electronic Transaction Act -focusing upon its private law aspects-

Abstract

The recent explosion of Internet technology has helped propel the growth of electronic commerce or electronic transactions. It is expected that electronic transactions will quickly replace the various existing forms and methods of transactions. Against this backdrop the Korean Electronic Transaction Act (KETA) was enacted on February 8th, 1999 and is being enforced since July 1st 1999, with a view to promote electronic transactions and to clarify the legal relations of electronic transactions. The provisions set out in the KETA are based largely on the UNCITRAL Model Law on Electronic Commerce adopted by the United Nations Commission on International Trade Law. The main contents of the Act include 1) legal effect, validity or enforceability of electronic data messages(the term eletronic documents as used in the Act) and digital signatures, 2) dispatch and receipt of electronic data messages, 3) protection of personal information and 4) consumer protection. While Korea is relatively ahead of other countries in terms of the early legislation of the Electronic Transaction Act, the Act itself is left with many shortfalls. Enacted without sufficient review of its relevant provisions, in particular those related to the private law, the KETA lends itself to a whole variety of different interpretations. In recognition of such problems, active efforts have been made in the year 2001 to revise the KETA and the Korean Digital Signature Act for the purpose of building a legal system more conducive to the growth of Information and Technology industry.본고는 2001년 8월 Microsoft 사의 지원으로 서울대학교 법과대학에서 주최한 학술대회인 韓國에서의 法의 支配(Rule of Law in Korea)의 일환으로 작성되었음