Fixed Book Price system, who is the system for?
Fixed Book Price system, who is the system for?
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  • 승인 2020.12.24 16:10
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Fixed Book Price (FBP) is a government-enforced system under which bookstores do sell books cheaper than publishers. The book price competition triggered major corporate governance about the publishing business. lt destroyed the publish ecosystem, so the government introduced a system to control it. The law prescribed taking a step revocation, ease off, maintaining, etc., triennially. As the system is inspected regularly, arguments about FBP are continuing. In October 2019, a request for revoking the FBP was posted on the Cheong Wa Dae website. Over 200,000 sympathizers signed up and received the answer from Yang Woo Park, Minister of Culture, Sports and Tourism. He asserted the FBP system gave consumers benefits, but also causes problems like industry sales decline. Also, he argued that improvement is necessary. To solve problems, the Minister has plans to promote the foundation of library, invigorate local bookstores, reading promotion and fixed price change policy. When was the FBP system established?

 

In 1977, sale books at fixed prices started first through an agreement between the publishers and the bookstores. But big companies discounted large amount of books, thus, the agreement has neutralized. Taking this opportunity, the Publication and Printing Promotion was enacted in a law in 2002. And FBP system becomes a law. As many review show, the law has a complex history. At first, it was decided to take effect only for five years. Jae-Kwon Shim, a member of a legislative body, expanded the FBP system to 18 months and removed the period limit. In 2009, some people argued saving vouchers, free gifts, etc., were contrary to the purpose of the FBP system. 'Book' was not included as a Subject to the abolition of the gift regulation. Preceded by the execution of law, that discount rate limited at 15% of a fixed price, the issue of bulk sales was progressed in 2014. The changed law triggered substantial effects on the publishing business and distribution industries for three years. So, FBP is not immune from arguments and objections. Was the law applied to people in accordance with its purpose?

 

According to a government’s survey, lots of people sympathize with the purpose of the FBP system. But, with rising book prices, consumer s’ burden was increased and people were reluctant to buy books. It affected the reading rates, which fell, the book's circulation decline, and the publishing business sale faced problems. A question was raised about whether the FBP system is really for the publishers. However, positive effects were also noted. Price adjustment competition by large companies had relaxed, thus, the local bookstore’s economic difficulties were reduced. Due to this, the local bookstores figures rose again. List of the bestsellers was diverted from old books to affordable books, narrowing the online and offline price gap and writers and publishers secured more stable royalty than before. Despite its positive effects, Korea's FBP system is regarded as insufficient compared to other countries. How is the FBP system in the other countries?

 

Sixteen of 34 member countries of the OECD enforce a FBP system. The book price is divided into two systems, the FBP system of continental European countries and the free market of Anglo sphere countries. The free market is a way in which the price is set by market competition. Therefore, consumers in Anglo sphere countries pay more than European countries for the same book. The best-known FBP system country, France, experienced turmoil in the publishing ecosystem when the FBP system was abolished in 1953; it was reinstated again. The FBP system, "Lang Law" allows a 5-percent discount for published books within two years. And the law, "Loi anti-Amazon" strictly prohibits a discount sale online as well as free book delivery. It protects the native literary identity and minority publication's diversity. As the book market is safe, it led to 3,500 traditional bookstores. We refer to the French FBP system as Korea plans a more stable FBP system.

 

Books range’s diversity and associated industrial development call for coordination of the law. Cheap book through card discounts and events are limited by the FBP system. Therefore, paying more becomes a burden to people. However, like we receive a steady pay for the price of labor, the publishing business should be guaranteed a stable income through fixed book prices. In addition, we need to discuss reasonable prices, distribution, and profit sharing. It makes consumers pay a fair price, the publishers can generate a fair benefit, and it helps the publishing business’ development.


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