The Act to Partially Amend the Civil Code ("Act") was enacted on June 13, 2018, and promulgated on June 20, 2018. The act will be come into force on April 1, 2022. After the Act comes into force, the age of majority will be lowered to 18, and persons 18 or older will be able to enter into contracts without parental consent. Since related laws are also planned to be revised along with this amendment of the age of majority, companies should confirm whether any changes will be made to laws that relate to their business.
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