Transition Team and Fair Trade Commission Discuss Platform Self-Regulation and Improvements for Special Related Parties of Group Heads

[Asia Economy Reporter Kim Hye-min] On the 24th, the Economic Division 1 of the Presidential Transition Committee (Transition Committee) received a report from the Fair Trade Commission on platform self-regulation measures and improvement plans for the system concerning special related parties of the head of a conglomerate.

The Transition Committee stated that it discussed these matters after the Fair Trade Commission's briefing on the same day. The briefing was attended by Choi Sang-mok, secretary of Economic Division 1, Shin Seong-hwan, transition committee member, Kang Seok-hoon, policy special advisor, and 13 other experts. From the Fair Trade Commission, first-level executives including the Secretary-General and key directors participated in the briefing.

The Transition Committee explained, "Today's briefing proceeded in the order of reporting the general status and current issues of the Fair Trade Commission, reviewing major tasks to be promoted by the new government linked to the president-elect's pledges, discussing the introduction of self-regulation in the online platform market, and examining improvement plans for the delivery price system to ensure fair compensation."

Regarding digital platform regulation, it was reported that "a balanced approach was discussed that can prevent consumer harm and unfair trade without hindering dynamism and innovation." Additionally, the scope of special related parties of the same person (head of a conglomerate) was discussed to ease regulations on large business groups, reflecting changes in public perception and economic conditions. Support measures for the market stabilization of corporate venture capital (CVC), introduced last year to revitalize venture investment, were also discussed.

Furthermore, measures to monitor abuse of monopoly power, improve competition-restrictive market practices and regulations, and establish a fair trading foundation between large and small-medium enterprises were discussed, including ▲ enhancing the effectiveness of delivery price adjustment negotiations, a pressing issue for small and medium enterprises facing difficulties due to soaring raw material prices, and ▲ measures to eradicate technology theft from small and medium enterprises.

Following the briefing, during the thematic discussion session, opinions were exchanged on ▲ effective self-regulation introduction measures in the online platform market and ▲ methods for effective delivery price adjustments within the framework of a market economy.

The Transition Committee stated, "The transition committee members urged efforts to align with the president-elect's philosophy of establishing a market economy order based on fairness and common sense," and requested, "Please actively consider measures that can promptly remedy damages to small and medium enterprises and prepare countermeasures that the market can feel." They added, "Based on today's briefing and discussion, we plan to select national tasks and concretize implementation plans through close communication with the Fair Trade Commission, related agencies, and the market."

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