Retailing and public policy: A comparative study of South Korea and foreign countries

Purpose - With the increasing concern for the declining number of independent retailers due to the rapid growth of multiple retailers, Korea has introduced retail constraints on the retail sector in recent. Based on the existing literature related to retail policy, thus, this study is to compare Korea with foreign countries, and then, propose better ideas for the Korean retail market. Research design - It is necessary to categorise the existing retail regulations into several groups, depending on the reasons why the governments have regulated retailers as well as the background in which has introduced retail policy, and then, to analyse them. Conclusions - It is necessary to look at how to protect independent stores, irrespective of store locations across the country. Rather than limiting the distance between traditional markets and the projected locations suggested by large retailers, the creation of various methods such as store size limit, opening and closing times, below- cost selling, land use planning, competition test, and so on, should be needed to protect small stores. Also, the centralised authorities associated with store operations should be delegated to local governments to respond to the aggressive expansion of retail giants. Consequently, to protect independent stores, political background should be regarded as one of the most important conditions.