[Sejong=Asia Economy Reporter Kwon Haeyoung] The Fair Trade Commission announced on the 19th that it has appointed Jeong Jin-wook, Director of the Corporate Group Bureau, as the new standing commissioner.
During his tenure as Director of the Corporate Group Bureau, Commissioner Jeong investigated and sanctioned unfair internal transactions of companies such as Kumho Asiana, SPC, Mirae Asset, and Hanwha.
He is credited with promoting co-growth between ventures and large corporations by preparing measures to allow general holding companies to hold corporate venture capital (CVC) in a limited manner.
Commissioner Jeong graduated from Seoul National University with a degree in International Economics and entered public service through the 36th Administrative Examination. He subsequently served as Director of the Corporate Transaction Policy Bureau at the Fair Trade Commission, spokesperson, head of the Seoul Regional Fair Trade Office, and Director of the Corporate Group Bureau.
There are a total of three standing commissioners at the Fair Trade Commission. Along with the Chairman, the Vice Chairman, and four non-standing commissioners, they review agendas submitted by the Fair Trade Commission Secretariat at the plenary session (equivalent to the first-instance court). The term is three years, with the possibility of one renewal.
The Fair Trade Commission stated, "Based on the experience and expertise accumulated in the field of fair trade, it is expected that he will contribute to future Fair Trade Commission decisions and institutional development."
Yuk Seong-kwon, Director of the Corporate Transaction Policy Bureau, was appointed to the position of Director of the Corporate Group Bureau previously held by Commissioner Jeong, and Kim Seong-sam was appointed as Director of the Corporate Transaction Policy Bureau.
Meanwhile, former standing commissioner Kim Hyung-bae has been nominated as the next head of the Fair Trade Mediation Agency.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
