Fair Trade Commission Holds Asia Consumer Policy Forum

The 9th Asia Consumer Policy Forum Held on the 8th at El Tower, Yangjae, Seoul

On the 8th, the Korea Fair Trade Commission (KFTC) held the "9th Asia Consumer Policy Forum" at EL Tower in Yangjae, Seoul. This forum was conducted in a hybrid format, with domestic participants attending in person and overseas participants joining online.

The Asia Consumer Policy Forum is a platform where countries in the Asia-Pacific region discuss consumer policy issues together and explore intergovernmental cooperation measures on consumer problems. Since 2007, the KFTC has hosted this forum biennially.

The forum was attended by representatives from 12 consumer policy authorities, the OECD (Organisation for Economic Co-operation and Development), UNCTAD (United Nations Conference on Trade and Development), the EC (European Commission), and domestic consumer policy experts. They shared trends in consumer policies from various countries and discussed major consumer issues emerging with the rapid transition to the digital economy and corresponding response measures.

The main agenda items of the forum included ▲ the latest consumer policy trends and issues by country ▲ consumer protection in online e-commerce ▲ ensuring consumer safety from hazardous products ▲ cooperation to resolve cross-border consumer complaints.

In his opening remarks, Yuk Seong-gwon, Secretary General of the KFTC, emphasized that the rapid transition to the digital economy is an unprecedented major challenge, and that multifaceted cooperation among consumer policy authorities of each country, as well as with international organizations and academia, has become not a choice but a necessity.

Through hosting this forum, the KFTC expects to strengthen cooperative relationships with consumer policy authorities in the Asia-Pacific region and enhance its international standing by sharing advanced consumer policies and systems.

Secretary General Yuk Seong-gwon stated, "The rapid transition to the digital economy is a major challenge that no one has experienced before," adding, "Consumer harm caused by deceptive practices in the online market, such as dark patterns, covert advertising, and manipulation of user reviews, is one of the significant issues that consumer authorities must address."

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