[THE INVESTOR] The constitutional court of South Korea on July 28 ruled that a controversial anti-graft law set to be implemented later this year is “constitutional” to subject journalists and private school teachers to the legislation.

The court also ruled that it was constitutional for the new law to place a limit on the goods and services that these individuals may be treated to. 

The law currently stipulates a maximum penalty of three years or more in prison, or fines of five times the amount accepted in the form of money or valuables worth more than 1 million won ($900) from one person in one installment. The maximum annual limit is 3 million won.

Further, the court ruled in favor of a clause obligating individuals to report to authorities if they find their spouses to have received bribes.

The latest rulings will enable the planned September implementation of the law -- also known as the Kim Young-ran Law after the name of its proposer.
Shortly after the bill was passed in March 2015, the Journalists Association of Korea, as well as other private school organizations, had requested a review by the Constitutional Court.

By Kim Ji-hyun (jemmie@heraldcorp.com)