US-Korea Competition Authorities "Collusion Cases Require International Cooperation"

Fair Trade Commission and U.S. Department of Justice Antitrust Division
Discuss Cooperation Plans for Competition Policy Promotion and Law Enforcement This Year

The Korea Fair Trade Commission (KFTC) discussed cooperation measures in competition policy and competition law enforcement between the two countries with the U.S. Department of Justice Antitrust Division.

On the 27th, Cho Hong-seon, Vice Chairman of the KFTC, met with Manish Kumar, Deputy Assistant Attorney General of the U.S. Department of Justice Antitrust Division, at the Korea Fair Trade Mediation Agency to discuss this year’s competition policy directions and cooperation in law enforcement between the two competition authorities.

At the meeting, Vice Chairman Cho emphasized that the KFTC will pursue four core tasks this year with the goal of "establishing a fair market economy that supports people’s livelihoods and innovation," and will strictly respond to legal violations that burden people’s livelihoods.

Officials from the Korea Fair Trade Commission and the U.S. Department of Justice Antitrust Division are taking a commemorative photo after the "Korea-U.S. Competition Authorities Bilateral Consultation." From the left in the photo: Yang Chung-sik, Director of International Cooperation Division; Han Kyung-jong, Director of Market Surveillance Policy Division; Leslie Wolf, Head of San Francisco Office; Cho Hong-seon, Vice Chairman; Manish Kumar, Deputy Assistant Attorney General; Jeon Young-jae, Director of International Cartel Investigation Division; Sarah Bartels, International Cooperation Officer; and Son Ji-hong, Officer of International Cooperation Division.

Vice Chairman Cho introduced the KFTC’s legal enforcement requirements and procedures regarding collusive acts to the U.S. Department of Justice delegation, stressing that this year the KFTC will strictly respond to collusion in sectors directly related to people’s livelihoods such as food, clothing, and shelter, finance and telecommunications, and intermediate goods.

He also introduced the recent amendment to the Fair Trade Act, which expanded the scope of public institutions obligated to submit bidding information to the KFTC. He stated that the KFTC will proactively identify and conduct in-depth analysis of issues that may restrict competition and infringe on consumer rights, especially in new technology markets such as artificial intelligence (AI).

Explaining the organizational restructuring and improvements in case handling procedures made last April, he evaluated that these changes have enhanced the KFTC’s expertise and efficiency in law enforcement.

Deputy Assistant Attorney General Kumar discussed priorities in law enforcement in the area of collusion and emphasized the importance of close cooperation between competition authorities, as collusive acts often involve conduct or effects spanning multiple countries. He then introduced recent cases currently being handled by the U.S. Department of Justice Antitrust Division.

The two authorities emphasized cooperation between competition authorities by sharing law enforcement experiences and exchanging diverse opinions to address competition issues arising in the digital economy. Since signing the Memorandum of Understanding on Antitrust Cooperation between the KFTC and the U.S. Department of Justice and the U.S. Federal Trade Commission in 2015, the two sides have engaged in exchanges through bilateral councils and international conferences.

This meeting was arranged on the occasion of Deputy Assistant Attorney General Kumar’s visit to major Asian countries, following his appointment in January last year.