Thesis: Business hours and mandatory holiday restrictions for large markets are unnecessary in Korea.
What I hope to learn from this source:
I want find out the viewpoint of the large market about the regulation.
Notes:
1. Large markets should experience economic losses because of the policy. Not being able to open on Sundays during the weekends most visited by consumers is a tremendous financial loss to them. Furthermore, it can cause a decrease in worker hiring.
2. In the Korean economy, which is heavily influenced by big company, it will be a decline due to the economic losses of large markets. In fact, there has been an economic loss, $1 billion over the past year due to regulation of large market.
3. Most people often use a large market on weekdays to prepare meals and purpose of shopping in large markets is usually family outings. Therefore, the regulation can not increase the sales of traditional markets.
Final Thoughs: According to information from the source, the regulation is causing economical loss of large markets due to the increase in exports of traditional markets. Because the purpose of regulation is to make better life and a stable life, I think laws that cause instability due to economic losses are not necessary at all.
What I hope to learn from this source:
I want to learn the citizens' opinions on the regulations on the sales of large markets.
Notes:
1. The regulation has gained a bad reputation for consumers. According to a survey by the Congress, 63% of domestic consumers thought negatively about the regulation. The reason was often inconvenience. They do not have a traditional market close to them, and they don’t think there is a place where they can buy commodity as easily as large markets. It is irrational that the laws made for small traders eliminate the convenience of consumers.
2. The regulation is detrimental to consumers’ willingness to consume. In response to the question, “Where do you buy things on a holiday of large markets?” 23.3% of the respondents answered that they do not buy things. Decline of consumers’ motivation can shrink the market economy.
3. As the government tightened regulations on large markets to increase sale sin traditional markets, consumer turned to large markets. Law for traditional markets is making consumers do not favor traditional markets.
Final Thoughts: As a result of focusing on consumers’ opinions on the regulation of large markets, most citizens think that the regulation is not good. The biggest problem with this regulation is the inconvenience of consumers. In this regulation, it is a policy error that the purpose of this law is to ‘protect consumers and contribute to the development of the national economy’. So I think it is not necessary to make this law which is inconvenient to the majority of the people.
What I hope to learn from this source:
I want to learn whether the regulation actually boosted sales of traditional market.
Notes:
1. Consumers do not use traditional markets, even if they an not buy goods from large markets. On the contrary, consumers are more likely to use the Internet shopping if they can not make a shopping trip on a day other than a holiday of large markets.
2. This policy has no effect on the sales of traditional markets. According to the results of the study, most traders thought that there was no big change in the sales of traditional markets in the holiday of large markets.
3. Consumers find a market that does not fall under this regulation and take the place of shopping at large marekts. Consumers familiar with large markets find other markets with similar moods than traditional markets, which are somewhat different form large markets. As a result, the beneficiary subject to this law is changed. This is beyond the original intent of the law.
Final Thoughts: This law on large market regulations originally aimed at increasing sales of traditional markets. But it didn’t achieve that goal at all. I don’t think this law is necessary because it is damaging other areas, even large markets.
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