According to the Korea Times, Korea’s Ministry of Culture, Sports and Tourism has announced that it will be stopping all virtual item trades with a new law that will be announced in July.
“The main purpose of the games is for entertainment and should be used for academic and other good purposes,” said Kim Kap-Soo, head of the ministry’s content policy division.
He stresses that item collection for commercial use is a serious hindrance to creating a healthy game culture.
Korean law already prohibits users from using programs that allow in-game characters to hunt and collect items without the need of player intervention(botting).
Offenders will face up a fine of up to 50 million won, and 5 years in jail.
How will this affect Diablo III’s auction house in South Korea? Should real money trading be banned in other countries as well?