Summary of the National Assembly Audit by the Political Affairs Committee
Chairman Jo Sung-wook of the Korea Fair Trade Commission attended the National Assembly's Public Administration and Security Committee's audit of the Fair Trade Commission held at the National Assembly on the 5th and is reporting on the work./Photo by Yoon Dong-joo doso7@
[Sejong=Asia Economy Reporter Joo Sang-don] On the 20th, Cho Sung-wook, Chairman of the Fair Trade Commission, stated during the National Assembly audit that the commission will "handle the shipping companies' freight collusion case according to principles." This reaffirmed the existing stance.
On the same day, during the National Assembly audit by the Political Affairs Committee, Cho responded to a related question from Oh Ki-hyung, a member of the Democratic Party of Korea, who asked whether there was a problem with the Fair Trade Commission not scheduling a plenary session for the shipping collusion case. Cho said, "While the process of review and preparation for deliberation requires time, this issue will be handled according to principles."
Cho emphasized, "The case can only be concluded through deliberation in a plenary session," adding, "The Fair Trade Commission will follow its procedures and handle the matter according to principles."
Regarding the amendment to the Shipping Act, which primarily excludes the application of the Fair Trade Act to joint activities under the Shipping Act, Cho stated, "It is necessary to have a procedure that sufficiently listens to the opinions of the Fair Trade Commission, cargo owners, and consumers during the amendment of the Shipping Act."
This bill has passed the subcommittee of the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee. If the bill, including retroactive application provisions, is passed, the Fair Trade Commission will no longer be able to sanction the current collusion case.
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