Fair Trade Commission and Law and Economics Association Symposium on 'The Role and Direction of Economic Analysis in the Enforcement of the Fair Trade Act'

[Asia Economy Reporter Jusangdon Joo] The Korea Fair Trade Commission (KFTC), in collaboration with the Korean Law and Economics Association, held a symposium on the 21st at the Korea Chamber of Commerce and Industry under the theme "The Role and Direction of Economic Analysis in the Enforcement of the Fair Trade Act."

The symposium was conducted without an audience and was broadcast live on YouTube's "FairTradeTV," considering recent quarantine guidelines due to the spread of the novel coronavirus disease (COVID-19).

At the event, Chairman Seongwook Cho delivered a congratulatory speech, stating, "New types of competition law issues are emerging, such as data monopolization, abuse of market dominance by platform operators, and algorithm collusion. This symposium will enhance stakeholders' acceptance of case outcomes through rigorous economic analysis for fair and objective judgments in fair trade cases, thereby promoting creative corporate activities, innovative growth, and contributing to economic development."

In Session 1, Professor Seonghoon Jeon of Sogang University and Chief Judge Woochan Kang of the Cheonan Branch of the Daejeon District Court presented on the topic "Retrospective Economic Analysis of Fair Trade Cases." This was followed by designated discussions by Professor Jaehyun Nam of Korea University and Taehho Hwang, Head of the Economic Analysis Division at the KFTC.

In Session 2, Professor Kyungsoo Yoon of Gachon University and Research Fellow Youngshin Jang of the Korea Institute for International Economic Policy gave presentations on "Prospects for the Use of Economic Analysis in Competition Law." Designated discussions were also held with Counsel Sangseop Noh of Kim & Chang Law Firm and Research Fellow Kyungbo Shim of the Korea Development Institute.

The KFTC plans to review the various expert opinions raised at this symposium and incorporate them into future economic analyses conducted in fair trade cases.

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