How Do Retail Regulations Influence a Retail Sector? A Comparative Study of Korea and Other Countries

By comparing South Korea and advanced countries, in terms of the effects of retail legislations on a retail sector, the authors are to provide new insights for Korean policy makers. The research will review existing literature concerned about the effects analysis of retail regulations. When comparing Korea and other countries, the authors will focus on identifying the effects of retail employment and productivity, how regulations influence retail price, and further, whether retail restrictions really protect independent retailers. The authors found that developed countries have made a significant effort to protect small- and medium-sized retailers for social stability with many different regulations and/or budget. With regard to results, however, the degree of its achievement is lower than expected. In order to protect mom and pops efficiently and effectively, policy makers need to develop better sophisticated retail regulations than those of advanced countries.