Anchor: The business community has expressed worries that the Constitutional Court's ruling to uphold the Kim Young-ran antigraft law could dampen consumption. The agriculture and other related ministries plan to call for raising the maximum monetary amount of gifts allowed.
Our Kim In-kyung has more.
 
Report: The Constitutional Court on Thursday found that the anticorruption Kim Young-ran law is legal.
 
The ruling paved the way for the law to go into effect as planned on September 28th, making it illegal for public officials, reporters and teachers to receive gifts worth more than 50-thousand won, or some 45 U.S. dollars, from those related to their jobs.
 
Setting aside its anticorruption purpose, the law is expected to deal a blow to the restaurant business. The agricultural and livestock industries are also concerned as expensive meat and fish are popular gift choices especially during traditional Korean holidays of Chuseok or Lunar New Year.
 
Some analysts estimate that sales at restaurants specializing in Korean beef are likely to fall about 530 billion won a year, while demand for seafood gift sets could decrease some 350 billion won a year.
 
Demand for flowers, widely used as wedding or funeral gifts in Korea, is also likely to fall by up to 100 billion won.
 
In total, the Ministry of Agriculture, Food and Rural Affairs estimates that revenue will fall two-point-three trillion won for the agricultural and livestock industries and up to four-point-two trillion won at restaurants.
 
As a result, the agricultural, fisheries and other related ministries plan to call for raising the 30-thousand won limit for meals to 50-thousand won and the 50-thousand won limit for gifts to 100-thousand won.
 
In addition, the ministries plan to recommend to the Anti-Corruption and Civil Rights Commission raising the limit during the initial stages of the law's implementation and lowering it later.
 
The retail industry has also raised worries that the antigraft law could shrink the economy.
 
Retailers are increasing the number of gift sets costing less than 50-thousand won by 20 to 30 percent compared to previous years ahead of the Chuseok holiday. But they are concerned that consumption will still decrease.
 
Business groups such as the Federation of Korean Industries and the Korea Chamber of Commerce and Industry say that they respect the Constitutional Court's decision, but press a need for measures to minimize adverse side effects.
 
Corporations haven't issued official statements on the matter, but many have begun to review ways to adhere to the law.
Kim In-kyung, KBS World Radio News.