부정청탁 및 금품등 수수의 금지에 관한 법률 (aka 김영란법) is an unprecedented anti-corruption law (in South Korea) that will come into force on September 28, 2016. What you need to know:

• No one shall – directly or indirectly – ask a “public official/employee, etc.” (POEE) to carry out official work unlawfully. Meanwhile, it’s a crime for a POEE to oblige. POEEs are to report such requests (if repeated). FYI, the term “POEE” even includes all those working in private school + journalists!
• No POEE shall (promise to) accept or request money/things over 1 mil won (from any one person at any one time), or money/things over 3 mil won (from any one person during one fiscal year). Regardless of “relation to work” or “consideration.” (If work-related, any/all amounts are, in principle, forbidden!)
• The spouse of a POEE is also forbidden from requesting or accepting bribes. POEEs are required to report such incidents.
• For the more serious/egregious offenses, the punishment (under this law) is a prison sentence of 3 years (max) or a criminal fine of 30 mil won (max). For the less serious/egregious offenses, the punishment is an administrative fine of 30 mil won (max). A POEE (found guilty) will simultaneously face disciplinary action.
• Legal entities and/or employers can also face punishment if they are found to have been (grossly) negligent in their supervision!

DID YOU KNOW? Prof. Kim Young-ran served as Supreme Court Justice from 2004 to 2010.

DID YOU KNOW? “김영란법” was found constitutional on July 28, 2016 (2015헌마236).

This post is by no means complete or perfect. I will try to update!

To learn more about this law, please click here.