[2025 Audit] Joo Byungki: "Focused Inspection of Collusion in Construction, Intermediate Goods, and Public Procurement... Will Ease Burden on Ordinary Citizens"

Joo Byungki, Chairman of the Fair Trade Commission, stated on the 14th, "We will focus on inspecting collusion in three key sectors directly linked to people's livelihoods-construction, intermediate goods, and public procurement-to reduce the burden on ordinary citizens."

Joo Byungki, Chairman of the Fair Trade Commission, is reporting on business affairs at the National Assembly's Political Affairs Committee audit of the Fair Trade Commission held on the 14th. 2025.10.14 Photo by Kim Hyunmin

In his opening remarks at the National Assembly's Political Affairs Committee audit on this day, Chairman Joo identified "realizing a fair economy for the recovery and sustainable growth of the people's economy" as the core objective. He said, "We will eradicate unfair practices such as technology theft and unjust payment that hinder the growth of innovative small and venture businesses," and added, "We will also strengthen monitoring of distorted incentive structures, including the pursuit of private interests within business groups."

Regarding the platform market, he said, "We will promptly establish rules for mutual benefit across the ecosystem to protect both partner companies and consumers." He continued, "We will respond swiftly to unfair practices by platform operators to prevent the spread of monopolistic abuses, and we will also improve systems to prevent and remedy consumer harm."

As support measures for small and medium-sized enterprises and small business owners, he stated, "We will reinforce safety nets to ensure stable payment of subcontracting fees and improve the conditions for franchise owners to start up and close their businesses." He also emphasized, "We will protect the rights and interests of the weaker party from unfair acts by those with greater economic power."

He also outlined the direction for consumer policy. Chairman Joo said, "We will strengthen the foundation for exercising consumer rights by revitalizing the consumer dispute mediation system and class action lawsuits," and added, "We will break down silos between ministries and coordinate consumer policy in an integrated manner." To support these policy goals, he stated, "We will establish a law enforcement system based on collaboration and selection and concentration, and enhance organizational and personnel capabilities." He also said that while excessive economic criminal penalties will be revised, economic sanctions will be strengthened to improve the effectiveness of law enforcement. Additionally, he said, "We will use fines imposed by the Fair Trade Commission to create a relief fund that will support small and medium-sized enterprises and consumers who have suffered damages."

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