Safety status of planes, ferries to be disclosed - The Korea Times

Safety status of planes, ferries to be disclosed

By Lee Hyo-sik

Companies operating airplanes, ferries and buses will be required to disclose the results of safety tests conducted on such forms of transport along with other details about their overall condition, the Fair Trade Commission (FTC) said Sunday.

Hotels, concert halls, sports stadiums and other facilities accommodating large numbers of people will also be subject to the rule, as part of government efforts to ease growing concerns over the safety of large-scale public facilities. Violators will face fines of up to 100 million won.

The FTC’s move comes after a series of safety-related accidents, including the sinking of the ferry Sewol in April 2014. Man-made disasters have unnerved the public over the past few years, prompting more people to seek safety-related information.

The FTC said it will soon revise related laws, requiring businesses dealing with large crowds to disclose safety-related information on their websites.

Under the revision, operators of airlines and buses will have to make public when and how planes and buses are made and repaired. They are also required to inform the public of the results of any safety inspections, as well as how they will compensate travelers if they suffer any damages.

Hotels, condominiums, concert halls and other large facilities will also be subject to the same rules.

“We expect the revision will force businesses to strengthen safety operations so that people can use their facilities more safely,” a FTC official said.

In addition, the anti-trust agency will require after-sales companies dealing with computers, smartphones, cameras and other consumer goods to disclose whether they use recycled parts.

Many consumers have been complaining that some businesses use recycled parts when repairing electronics goods, but charge as if they use brand new components.

The revision will force companies to notify consumers about whether they use new or recycled parts. Violators will face a fine and after-sales providers, retailers and manufacturers will be held accountable for any violations.

“Consumers can make more informed decisions if they know what they get with after-sales services,” the official said. “This requirement will also help reduce repair costs.”

The FTC also plans to oblige funeral homes to disclose a price list of clothes worn by the deceased so that bereaved people can make more informed decisions.

This is also to help reduce funeral expenses as such clothes are often sold at higher than market prices by funeral homes, which often exaggerate the quality of fabric such items are made from.

Lee Hyo-sik

Lee Hyo-sik is Finance Desk editor at The Korea Times. He manages finance-related stories on macroeconomics, banks, stocks, bonds, crypto etc. He is passionate about covering what's happening in Korea's financial industry and explaining it to both Korean and non-Korean readers. You can reach him at leehs@koreatimes.co.kr. Your insights and feedbacks are always appreciated.

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