Jo Seong-ik, PhD from KDI, Appointed as Head of Economic Analysis Division at Fair Trade Commission

[Sejong=Asia Economy Reporter Joo Sang-don] The Fair Trade Commission announced that it appointed Dr. Cho Sung-ik, head of the Market Policy Research Department at the Korea Development Institute (KDI), as the Director of Economic Analysis, an open position, effective on the 5th.

A Fair Trade Commission official explained, "Unlike general judicial cases, fair trade cases require not only verification of the facts of the act but also rigorous economic analysis to prove the anti-competitive effects of the act on the relevant market, thus demanding a high level of legal and economic expertise."

In particular, various economic analysis techniques have recently emerged as key issues during the decision and litigation stages, increasing the importance of specialized economic analysis skills based on related economic theories such as industrial organization and statistics.

Accordingly, as the main agency handling fair trade cases, the Fair Trade Commission has been strengthening its economic analysis capabilities to ensure high-quality case investigations and decisions. In line with this, it recently decided to recruit a private expert with up-to-date knowledge of economic analysis techniques by selecting the Director of Economic Analysis, the person responsible for practical work, as an open position.

Newly appointed Director Cho earned his Ph.D. in Economics from Texas A&M University in 2012 and has been an expert in economic analysis in the field of fair trade, conducting policy research and various consultations related to fair trade at KDI. He has conducted numerous studies analyzing competitive conditions and regulatory effects in various markets. From 2017 to 2018, he comprehensively researched various economic analysis techniques related to collusion and their applications.

Going forward, Director Cho will oversee and coordinate economic analyses conducted during case handling and decision support processes and will also be responsible for economic analysis capacity training. He will effectively serve as a 'Chief Economist,' a role present in most advanced competition authorities.

The Fair Trade Commission expects that with Director Cho’s appointment, the Commission’s economic analysis capabilities will be enhanced, leading to higher completeness in handling and deciding fair trade cases and more effective responses to related litigation, thereby significantly strengthening the fair trade infrastructure.

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