[2022 National Audit] Han Ki-jung, Fair Trade Commission Chairman, "Strict Investigation on Abuse of Monopoly in Platform Sector"

Han Ki-jung, nominee for Chairman of the Fair Trade Commission, is attending the confirmation hearing held at the National Assembly on the 2nd, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

[Asia Economy Sejong=Reporter Dongwoo Lee] Han Ki-jung, Chairman of the Fair Trade Commission, stated on the 7th, "We will strictly investigate and sanction abuses of monopoly and unfair practices occurring in the platform sector under the current Fair Trade Act."

At the National Assembly's Public Administration and Security Committee's audit of the Fair Trade Commission on the same day, Chairman Han said, "We will sanction market misconduct that forms artificial entry barriers and undermines fair competition."

He added, "We will improve competition-restrictive regulations that limit entry or restrict business activities to revitalize innovative competition in the market," and "We will support corporate restructuring through expedited merger reviews and system reforms."

Regarding the large business group system, Chairman Han explained, "We will strengthen strict law enforcement and monitoring against unfair internal transactions that grant improper benefits, and provide legal violation prevention education for newly incorporated and designated business groups."

However, he said, "We will support the activation of venture investment by large business groups, such as ensuring the successful establishment of the holding company CVC system introduced last year in the market."

Protection of small and medium-sized enterprises' technology will also be strengthened. Chairman Han stated, "To eradicate technology theft from SMEs, we will implement comprehensive measures across all stages, including prevention of technology misuse, investigation, and strengthened sanctions."

Chairman Han also mentioned strengthening monitoring of consumer deception and enhancing procedural rights of investigated companies. He raised the possibility of delegating efficient management of simple order violations in the franchise and agency sectors to local governments. Chairman Han said, "We will focus on monitoring abuses of superior positions by franchise headquarters, large distribution companies, and agency headquarters to prevent damage to small business owners caused by power imbalances."