Fair Trade Commission Chairman Jo Seong-wook Visits SMEs and Ventures: "Will Swiftly and Strictly Handle Unfair Practices Such as Technology Misappropriation"

Jongwook Cho, Chairman of the Fair Trade Commission. (File photo)

[Asia Economy Reporter Joo Sang-don] Cho Sung-wook, Chairman of the Fair Trade Commission, stated on the 26th, "We will promptly and strictly handle unfair practices such as technology misappropriation and illegal subcontracting."

Chairman Cho attended a meeting with venture companies from Gwangju and Jeonnam in the afternoon and said, "We will focus inspections on industries with high suspicion of legal violations through written surveys and other means."

This meeting was organized to directly listen to the difficulties and suggestions that small and venture businesses experience in their transactions and to reflect them in future fair trade and subcontracting policies.

At the meeting, he emphasized, "We will do our best to eradicate unfair practices, including technology misappropriation, to protect technologies developed by small and venture companies in our society," adding, "We will strengthen disadvantages against technology misappropriation and encourage reporting by improving systems such as expanding punitive damages for technology misappropriation up to 10 times (currently 3 times) and abolishing the exclusive prosecution system."

This content was produced with the assistance of AI translation services.