Sungwook Cho: "We Will Make Multifaceted Efforts Including Activating Dispute Mediation for Rapid Relief of Small Business Operators' Damages"

'Fair Trade Commission-Korean Distribution Science Society and Subcontracting Law Society' Joint Academic Symposium

Jong-wook Cho, Chairman of the Fair Trade Commission. (File photo)

[Sejong=Asia Economy Reporter Joo Sang-don] Cho Sung-wook, Chairman of the Korea Fair Trade Commission (KFTC), stated on the 26th, "To provide swift relief for damages to small and medium-sized business operators, we will collaborate with various entities such as the Korea Fair Trade Mediation Agency and make multifaceted efforts."

On this day, Chairman Cho made these remarks in a congratulatory speech at the academic symposium titled "Policy Evaluation and Policy Direction Exploration in the Gap-Eul Sector," jointly hosted by the KFTC, the Korea Distribution Science Association, and the Subcontracting Law Association.

Chairman Cho emphasized, "When business operators with weaker bargaining power suffer the double hardship of unfair trade practices, even those with competitiveness and passion may lose their foundation for survival and face a vicious cycle of being pushed out. The market environment changes accelerated by COVID-19 not only place small merchants and SMEs in an even more precarious position but also increase the need to reconsider existing systems and law enforcement frameworks."

He added that to cultivate a fair economy, the KFTC will activate dispute mediation and actively enforce laws while strengthening efforts to provide swift relief for damages to small and medium-sized business operators so that a culture of mutual cooperation can widely spread.

This symposium was divided into two sections: "Policy Evaluation in the Franchise, Distribution, and Agency Sectors" and "Policy Evaluation in the Subcontracting Sector." Professor Park Joo-young of Soongsil University reviewed the history of amendments to the Franchise Business Act under the theme "A Comprehensive Review and Suggestions on the Amendment of the Franchise Business Act," and presented a theoretical review of the major proposed amendments currently submitted. Professor Lim Chae-woon of Sogang University analyzed the recent competitive status of the distribution market under the theme "Is Fairness and Mutual Growth Possible in the Imbalanced Relationship of Large-scale Distribution Transactions?" and suggested the direction the Large-scale Distribution Business Act should take. Following this, Jeong Jong-chae, President of the Subcontracting Law Association, reviewed the recently discussed proposed amendments to the Subcontracting Act and presented the direction for its revision under the theme "Development Direction and Amendment Suggestions for Subcontracting Policy."

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