Fair Trade Commission Publishes '40-Year History of the Fair Trade Commission'

[Sejong=Asia Economy Reporter Joo Sang-don] The Korea Fair Trade Commission (KFTC) published the "40-Year History of the Korea Fair Trade Commission" on the 26th, which chronologically describes the development of the fair trade system over the past 40 years and includes future policy directions.

The 40-Year History of the Korea Fair Trade Commission is composed of ▲Overview (Part 1) ▲Changes in policies and operational achievements by era (Part 2) ▲Future tasks (Part 3) ▲Status of affiliated organizations and appendices (major statistics, organizational chart).

Part 1 summarizes and organizes the major changes in organization and legislation, competition policy, measures to curb economic power concentration, fair trade policies between large and small-medium enterprises, consumer policies, case handling tasks, and achievements in policy implementation in each field. Part 2 divides the 40 years into five periods centered on historically and economically significant events: ▲Period 1 (1981?1986) Launch of the fair trade system ▲Period 2 (1987?1997) Expansion and independence of the KFTC ▲Period 3 (1998?2007) Foreign exchange crisis and establishment of market economy ▲Period 4 (2008?2016) Expansion of autonomy and responsibility of market participants ▲Period 5 (2017?2020) Harmony between fair economy and digital economy, and details the characteristics of system operation, changes in organization, legislation, and systems for each period.

Part 3 presents major future policy directions including ▲Transition to the digital economy and enhancement of the role of competition policy ▲Strengthening of competition advocacy activities ▲Advancement of competition law enforcement and systems ▲Establishment of inclusive supplier-buyer relationships ▲Response to the internationalization of competition law enforcement ▲Promotion of consumer-oriented government policies ▲Strengthening of the fair trade policy implementation system ▲Enhancement of independence and fairness.

A KFTC official said, "We hope this book will serve as a guide, historical record, and research material on the fair trade system, helping to improve understanding of fair trade policies and to discuss desirable development plans," adding, "We plan to distribute it to national and public libraries, university libraries, local government resource centers, research institutes, and economic organizations."

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