[THE INVESTOR] Opposition parties are seeking the introduction of US-style class action in South Korea prompted by Volkswagen’s emissions scandal.

On July 26, progressive heavyweight Rep. Park Young-sun of the main opposition The Minjoo Party of Korea submitted a proposal for the introduction of “class action act.” 
 

“Like the Volkswagen case, (cases in which) it is difficult to prove damages due to an imbalance in information is increasing. However, the current civil suit (regulations) are focused on resolving disputes individually,” Park said.

“This proposal is to introduce legal means to ensure sufficient compensations and swift recovery of rights for Koreans.”

Park, who proposed an act that will introduce “punitive compensations” last month,” is not alone in seeking to give consumers an edge in legal battles against corporations. The act Park proposed last month states that a party that allows others to sustain damages has the duty to make compensations.

The Minjoo’s floor leader Rep. Woo Sang-ho backed Park’s proposals, saying that incidences of Korean consumers being harmed by multinational firms were on the rise, while the minor opposition People’s Party has voiced support for Park’s idea of punitive compensation.

By Choi He-suk (cheesuk@heraldcorp.com)