Fair Trade Commission Chairman: "Establishing a Foundation for Platform Competition Promotion... Strengthening Monitoring of Unfair Practices in the Livelihood Economy"

Opening Remarks at the National Assembly Political Affairs Committee Business Report

Kang Ki-jung, Chairman of the Fair Trade Commission, is giving an urgent briefing on current issues at the Financial Supervisory Authorities during the National Assembly's Political Affairs Committee meeting on the 18th. Photo by Kim Hyun-min

Han Ki-jung, Chairman of the Fair Trade Commission, stated on the 19th, "We will establish a foundation to promote competition in the platform market and focus on inspecting unfair practices and consumer deception in subscription-based, vertical, and mobile platforms to correct them."

In his opening remarks during the National Assembly's Political Affairs Committee business report, Chairman Han said, "This year, we will pursue various policies to promote innovative competition in preparation for the future."

Chairman Han added, "While strengthening monitoring of collusion in areas directly linked to the economic burden on the public and unfair trade in key industries such as telecommunications and automobiles, we will improve market structures to secure new growth engines and streamline corporate merger reviews."

He also highlighted key tasks for this year, including revitalizing the economy of small and medium-sized enterprises and small business owners, enhancing consumer protection and rights, rational operation of the large business group system, and improving systems for efficient case handling.

He stated, "We will prepare improvement measures to ensure that small businesses and suppliers receive fair compensation in subcontracting and distribution sectors, and inspect illegal acts that evade the linkage system for payment of supplies and unfair practices in the online shopping industry."

He continued, "We will prevent deceptive acts related to online shopping and rationalize the system to fit the realities of digital transactions. We will also continue market monitoring and system improvements to prevent consumer damage in new types and global transactions."

Chairman Han said, "Reflecting changes in the economic environment, we will adjust the criteria for large business groups and the scope of affiliated companies, expand the market's self-monitoring functions, and prepare institutional improvements to reduce the burden of data submission on companies."

Furthermore, he added, "We will improve systems to enhance the effectiveness and transparency of Fair Trade Commission decisions and case handling efficiency, and support prompt and effective damage relief through the maintenance of dispute mediation systems and expansion of litigation support."

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