Network for Internet shopping refunds due next month

Korean consumers will soon have a way to obtain refunds for purchases made at overseas Internet shopping malls.

The Ministry of Finance and Economy said that the nation`s Consumer Protection Board would participate in the International Marketing Supervision Network (IMSN), a global network to protect consumers who engage in e-commerce. The IMSN will be created next month by member countries of the Organization for Economic Cooperation and Development (OECD).

The network would allow Korean consumers who made purchases at Internet shopping malls to seek refunds by accessing the IMSN`s Web site at http://www.econsumer.gov.

The service is to be provided in five languages – Korean, English, French, German, and Spanish. IMSN is expected to seek voluntary settlement of disputes between consumers and merchants through mediation. If that fails, government agencies in the relevant countries would be brought in to settle the disputes.

The Korean e-commerce market was valued at 17.42 trillion won last year, which breaks down to 8.17 trillion won in business to business (B2B), 3.01 trillion won in business to consumer (B2C) and 203 billion won in business to government (B2G).

Kwon Soon-Hwal shkwon@donga.com