AMCHAM protests to revision in Korea's online financial service law

American Chamber of Commerce in Korea (AMCHAM) has challenged the Financial Service Commission’s move to revise the Electronic Financial Transactions Act, arguing that the Korean financial authority should not make overseas-located non-financial companies liable for online services made in Korea. If revision is made per the policy maker’s plan, Korean financial authorities will be allowed to monitor and investigate cloud computing platform operators like Amazon Web Services for their clients’ online service activities.

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