Fair Trade Commission Chair: "Increasing Ex Officio Investigations in Sectors Prone to Technology Theft"

Introduction of Korean-Style Discovery System
Establishment of Relief Fund Using Fines as Financial Resources

On September 25, Chairman Joo Byunggi of the Korea Fair Trade Commission stated, "We will strengthen ex officio investigations in sectors where technology theft is frequent in order to eradicate technology theft."

In his opening remarks at the "Roundtable for Eradicating Technology Theft" held at the Korea Venture Business Association on the same day, Chairman Joo said, "Technology theft is not merely a matter of individual corporate damage; it undermines the entrepreneurial spirit and motivation for innovation among small and venture businesses and destroys a healthy corporate ecosystem. It is a structural problem in the market." He emphasized that eradicating technology theft would be one of his top priorities during his term in office.

He first noted, "I am well aware that many companies suffering from technology theft are unable to report or file lawsuits due to fears of retaliation, and that it is difficult to secure evidence, making it virtually impossible for them to seek relief on their own through litigation." He added, "We plan to prepare supplementary measures to detect and sanction hidden damages, not just relying on reports from victimized companies."

He also revealed plans to make industry inspections routine by strengthening ex officio investigations in sectors where technology theft is frequent, and to enhance the Fair Trade Commission's investigative capacity and expertise for more prompt and effective case handling.

Additionally, he promised, "To dramatically improve the difficulties in securing evidence and proving damages-which victimized companies cite as the biggest hurdles in litigation-we will introduce a Korean-style discovery system and institutionalize the mandatory submission to courts of materials obtained by the Fair Trade Commission during investigations."

Chairman Joo stated, "We will also establish an 'Unfair Trade Relief Fund,' financed by fines collected by the Fair Trade Commission, to provide practical relief to companies harmed by unfair trade practices, such as technology theft, through loans and litigation support."

He further emphasized, "The technology theft eradication measures currently being prepared will be carefully formulated by thoroughly gathering opinions from the industry and experts. Through these efforts, we will focus on creating a mutually beneficial corporate ecosystem where innovative small and venture businesses can grow."

Small and venture business representatives attending the meeting shared their real-life experiences with technology theft and responses, and called for stricter punishment for offending companies and institutional improvements to ensure substantial compensation and relief for victimized companies. In particular, the Korea Venture Business Association suggested that, by strengthening monitoring and penalties for technology theft, the losses incurred upon detection should far exceed any gains from violating the law.

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