President Lee: "Corporate Management Must Be Legitimate... Illegal Acts Will Face Strict Sanctions Without Exception"

by Song Seungseop

Published 09 Mar.2026 19:24(KST)

President Lee Jae-myung is entering the emergency economic inspection meeting regarding the Middle East situation held at the Blue House on the 9th. Photo by Yonhap News Agency

On the 9th, President Lee Jae-myung warned, "There will be no exceptions to strict sanctions against illegal acts, and those who obtain unjust gains through illegal means will be required to return more than the amount they gained."

On the same day, through his X (formerly Twitter) account, President Lee stated, "Corporate management must be conducted in a legitimate manner." He stressed, "As long as companies do not engage in illegal acts such as collusion that harm the public and disrupt economic order, nothing will happen."

President Lee shared a news article stating that fines for violations of the Fair Trade Act could increase by up to 20 times.

According to the amendment to the 'Notice on Detailed Standards for Imposing Fines,' announced by the Korea Fair Trade Commission, the base rate for fines will be raised depending on the severity of collusion violations. Sanctions against private interest-seeking by owner families, unfair support, and repeated violations will also be significantly strengthened.