The user can decide if they want the key to retain in lock or not. Old days you had to decide already in the shop which way you want to use it and when you took the product to the customer they might wonder why it works so and so... Much more convenient this newer style!

This is done by turning a hex screw a couple of rounds with 1,5mm allen wrench when the lock is in locked position. The little hole in the middle of the lock:

These have also shrinked in progress during decades, first the mounting diameter was 23,1-23,5mm, then 21,9mm and now it´s 19,9mm.
I was wondering if there are other similar products available and how are they executed? Not only furniture locks but in general.