Seongwook Cho: "Assigning Responsibility Based on Platform Transaction Involvement... Amendment to the 'Jeonsang Act'"

Fair Trade Commission and Korean Advertising Law Association Joint Symposium Held
Discussion on 'Consumer Issues on SNS Platforms'

Jongwook Cho, Chairman of the Korea Fair Trade Commission. (Photo by Korea Fair Trade Commission)

[Asia Economy Reporter Moon Chaeseok] Cho Seong-wook, Chairman of the Korea Fair Trade Commission, emphasized that they are promoting amendments to the "E-commerce Consumer Protection Act" that assign responsibilities and obligations according to the level of transaction involvement and role of online platform operators.

On the 23rd, the Fair Trade Commission held a symposium at the Korea Chamber of Commerce and Industry in Seoul, together with the Korean Advertising Law Association, under the theme "Consumer Issues on SNS Platforms."

The symposium was divided into three sessions: "Advertising and Consumers in the SNS Era," "SNS Platforms and Consumer Protection," and "Influencer Marketing and Consumer Protection."

Participants from the Fair Trade Commission, academia, and industry discussed measures to protect consumers on SNS platforms.

In his congratulatory remarks, Chairman Cho said, "In a situation where the digital economy based on online platforms is rapidly growing, we are paying close attention to and responding to consumer issues on online platforms."

He noted, "There is a concern that large platforms that have secured data and technology may use their monopoly power to limit the range of choices available to consumers," and "Consumer harm may occur due to inaccurate information distributed through platforms."

He added, "We are promoting amendments to the 'E-commerce Consumer Protection Act' that assign responsibilities and obligations according to the transaction involvement and role of platform operators, reflecting the market environment of the digital economy."

A Fair Trade Commission official stated, "We plan to carefully review the opinions raised by academia and industry at this symposium and reflect them in future policy enforcement for consumer protection on platforms."

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