The National Assembly passed a revised bill today.
Here's a summary of the key facts...
Selling a bicycle with brakes removed and modified will result in imprisonment for 6 months or less, or a fine of 5 million won or less.
Riding a bicycle without brakes on a bicycle road will result in a maximum fine of 500,000 won (currently under review for a standard of 40,000 won).
So far, bicycles have been legally defined as 'having braking devices', so there was no basis for cracking down on fixies without brakes.
It was always nerve-wracking to see children skidding around on bikes without brakes. I hope this will disappear for the sake of everyone's safety.