Chairman Joo Byungki Attends 25th ICN Annual Conference... Discusses Strategies for Competition Authorities in the Digital Era

Key Policy Initiatives Introduced:
Korea-Style Evidence Disclosure System and Platform Fairness Legislation

The Fair Trade Commission will discuss strategic response measures to technological advancements such as artificial intelligence (AI) and the acceleration of the digital era with the heads of competition authorities from around the world.

Joo Byung-ki, Chairman of the Fair Trade Commission, speaking at the launch ceremony of the 3rd 2030 Advisory Group on the 28th of last month. Photo by Yonhap News.

On May 5, the Commission announced that Chairman Joo Byungki will lead the Korean delegation as chief representative at the 25th Annual Conference of the International Competition Network (ICN), which will be held in Manila, Philippines, from May 6 to May 8. The ICN is the largest global platform for competition law enforcement cooperation, with 148 competition authorities participating, including those from the United States, the European Union, and Japan.

At the plenary session on the 6th, Chairman Joo will join senior officials from Greece, the United Kingdom, Kenya, and other countries to discuss the theme of “Building Agile and Forward-Looking Competition Authorities.”

Chairman Joo plans to explain efforts to mitigate economic concentration and improve ownership and governance structures. In particular, he will highlight the widening gap between large enterprises and small and medium-sized enterprises, as well as unfair practices arising from monopolization in the platform economy, introducing the Fair Trade Commission's key policy directions.

He will also actively explain efforts to reform the surcharge system to enhance the effectiveness of sanctions, along with measures to improve remedies for victims.

Specifically, he will present plans to expand private remedies, including: the introduction of a Korea-style evidence disclosure system, a collective damages claim system for consumers, and the expansion of the scope for injunctive relief in consumer group litigation. He will also express his intention to actively support legislative discussions on the “Platform Transaction Fairness Act,” which aims to strengthen the stability of transactions between platforms and small business operators.

During the annual conference, Chairman Joo will hold bilateral meetings with the heads of major authorities such as Australia, Italy, and the Directorate-General for Competition of the European Commission. In addition, he will sign a memorandum of understanding (MOU) with the Philippine competition authority to strengthen enforcement cooperation, and will listen to the on-site opinions of Korean entrepreneurs operating locally through a roundtable meeting.

Chairman Joo stated, “This visit will be a valuable opportunity to share response strategies with competition authorities around the world, as the competitive landscape is being reshaped by advancements in digital technologies such as AI.”

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