Legal Framework for Disney Expansion

Question: Discuss about theLegal Framework for Disney Expansion. Answer: Introduction The Walt Disney since its inception has expanded in many different countries across the globe. The globalization has positively affected the functioning of the company. The Walt Disney is a true global company and it maintains a standard operation in most of its functional areas in all the countries. The globalization and the economic opportunity have attracted the company toward s South Korea (Kantola et al. 2016). The Disney being a reputed brand will have an advantage on entering into Korean market. In order to operate effectively the Disney will be required to function within the legal framework of South Korea. In this report, a discussion is made about the legal system within which Disney will have to operate in South Korea. Consumer Law The consumer laws are the rules and regulations that are laid down to promote balance between buyers in the market and another aims is to reduce or eliminate dishonest tactic of sellers. In South Korea, the laws relating to protect consumers protection exists in three different areas judicial, legislative and administrative (Lee and Chun 2015). There are different consumer protection laws that exist in South Korea they are Consumer Protection Act, The Price stabilization and Fair Transaction Act, The service Contract Act, The Anti Trust Act, The Acts on door-to-door sales, the food safety Act, The Act on Installment transaction, the consumer Product safety (quality) Act, The act on installment transactions. The Disney will be required to comply with the provisions of these acts in order to operate effectively in Korea. There are seven rights that is mentioned in the South Korea Consumer Protection Act this are right to information, right to safety, right of being heard, right to be e ducated, right to redress remedy and problems related to consumers (Park 2015). The Disney in order to follow the consumer law is required to take adequate steps to ensure that the customer safety is appropriately taken care. The Disney is also required to inform critical information relating to its operation and other general information to its customers. The customers should be given the opportunity to be heard by the company and the grievance if any should be timely redressed. Therefore, it can be said that the Disney will be required to change its operations slightly in order to comply with all the provisions and requirements of the consumer law. Workplace Law In South Korea, the labor Standard Act 1997 is applicable to all the workplaces and it is equally applicable to both foreign and resident Koreans. There are different provisions of the labor Standard Act 1997 and the applicability of these provisions depends on the number of employees. In addition to this, other acts are also applicable to the workplaces in South Korea. These laws are Minimum Wages Act, The Employment Insurance Act and the Employee Retirement Benefit Security Act. The provisions of these laws are applicable to all irrespective of the contractual agreement (Wasko 2013). The Disney in order to operate a workplace in Korea will require adhering to all the relevant provisions of the work place acts. The Disney in accordance with the rules laid down in the minimum wages act will be required to pay minimum wages of KRW3, 700 per hour, KRW30160.00 per day, KRW852020.00 based on 44 hours per week a month and KRW787930.00 a month for 40 hours week (Kim et al. 2015). The Disne y is also required to follow the following acts in order to avoid discrimination in workplace. These acts are the employment promotion and vocational rehabilitation of disabled person act 2000, the equal employment for both sexes act 2001 and the employment of the foreign workers act 2003 (Oh 2014). Conclusion The South Korea is the 12th biggest trading countries and one of the most industrialized countries of the world. The culture, academics and society of the South Korea is also thriving. In such a thriving economy, the Disney is expected to perform exceptionally. The report has highlighted that in order to operate effective the Disney will be required to readjust their functioning and operation in accordance with the prevalent laws of the country. Reference Kantola, J.I., Barath, T., Nazir, S. and Andre, T. eds., 2016.Advances in Human Factors, Business Management, Training and Education: Proceedings of the AHFE 2016 International Conference on Human Factors, Business Management and Society, July 27-31, 2016, Walt Disney World, Florida, USA(Vol. 498). Springer. 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