SOUTH KOREA Law and Practice Contributed by: Hyun Ho Eun, Jung-Chull Lee and Dukjoong Na, Kim & Chang
9.2 Definition of Advertising The GIPA contains regulations regarding advertising and promotional materials, but it does not provide a separate definition of advertising. The general defini- tion of advertising applies to gaming laws. According to the Act on Fair Labelling and Advertising (FLAA), “advertising” means any public distribution or presen- tation of matters concerning a product through various methods, including newspapers, online newspapers, periodicals, broadcasting and telecommunication. 9.3 Key Legal, Regulatory and Licensing Provisions There is no separate licence required for advertising and labelling. However, there is a separate labelling obligation for games. Under the GIPA, all games, with limited exceptions, have disclosure requirements and must indicate: • their age rating; • content information according to descriptors defined by the GRAC (eg, sexuality, violence, lan- guage, and gambling); • the name of the game manufacturer or publisher; and • types of loot boxes and the information relating to probability by types of loot boxes. See 9.4 Restrictions on Advertising for regulation on advertising by the GIPA. 9.4 Restrictions on Advertising There is no specific statutory provision targeting advertisements for online gambling, betting or gaming. However, the FLAA generally prohibits false, exagger- ated or misleading advertising, and is hence applied to unfair advertisements, such as those in which there is a false indication of the probability of random events in the game. A case where the FLAA has applied to a game company has not yet been observed. Regarding game company advertisements, the E-Commerce Act and the GIPA are usually more rel- evant than the FLAA. The E-Commerce Act prohibits any act of solicitation or transactions with consumers by informing with false or exaggerated information or by using deceptive means.
• where an employee of a financial institution reports to the competent investigative agency under the POCA or the TFA; and • where there are any reasonable grounds to suspect that a customer is dividing transaction amounts for the purpose of evading the currency transaction reporting obligation. The POCA prohibits any person from receiving crimi- nal proceeds or assets that originated from crime proceeds while such person has knowledge of the criminal nature of the proceeds or assets. Anyone who conceals criminal proceeds may be sub- ject to imprisonment for up to five years or a criminal fine of up to KRW30 million. Anyone who receives criminal proceeds while having knowledge of the criminal nature of the proceeds may be subject to imprisonment for up to three years or a criminal fine of up to KRW20 million. For violations committed by its representatives, offic- ers, employees or agents during the course of its busi- ness, the employer may be held criminally liable and punished with a criminal fine of up to KRW30 million (for anyone who conceals criminal proceeds) or a fine of up to KRW20 million (for anyone who receives crim- inal proceeds while having knowledge of the criminal nature of the proceeds). According to the amended TFA, effective from 22 January 2026, anyone who transacts with a person (or corporations that are directly or indirectly owned or controlled by such person) on the financial transac- tion prohibited list announced by the FSC, without an approval by the FSC, may be punished by imprison- ment for up to three years or a criminal fine of up to KRW30 million. 9. Advertising 9.1 Regulatory/Supervisory Agency The GRAC and the KFTC regulate false or misleading advertising.
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