Gyeonggi-do Introduces Fair Trade Compliance Program for Affiliated Organizations

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is promoting the introduction of the 'Fair Trade Compliance Program (CP)' for public institutions under the province.

Gyeonggi Province announced on the 25th that it officially recommended the introduction of the 'Fair Trade Compliance Program' during meetings with public institutions under the province held on the 20th and 21st.

CP is an internal compliance system related to education and supervision that companies voluntarily introduce and operate to comply with fair trade-related laws.

The province plans to introduce the Fair Trade Compliance Program across institutions and companies in the province, but before full-scale implementation, it first recommended CP introduction to public institutions that have multiple business relationships with partner companies or subcontractors.

This is a follow-up measure to Governor Kim Dong-yeon's pledge of 'Strengthening ESG (Environmental, Social Responsibility, Governance) management to prevent burden shifting to subcontractors and others.'

Accordingly, the province plans to provide incentives such as reflecting evaluation factors for public institutions that proactively introduce CP. In addition, for private companies in the province, it will provide expert consultation for building CP elements and grant additional points in company support selection programs upon introduction.

Heo Seong-cheol, head of the Fair Economy Division of the province, emphasized, "Public institutions under the province, as major contractors of public projects in the province, need to play a leading role in complying with fair trade laws. To this end, we will proactively promote CP introduction in public institutions within the province and further expand the system to private companies in the future."

Meanwhile, the Fair Trade Commission introduced the CP system in 2001 to overcome the limitations of establishing market order relying solely on government law enforcement, and supports the introduction of the Fair Trade Compliance Program under the 'Regulations on the Operation and Incentives of the Fair Trade Compliance Program' to revitalize the system.

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