Fri. Jun 9th, 2023

The FTC establishes a appeal process during the investigation process and expands its official opinion opportunities from the pre-committee deliberation. In addition, the company decided to innovate the execution of the Fair Trade Law by specifically and clearly notifying the subjects and scope of the investigation.

The Fair Trade Commission announced on the 16th that Vice Chairman Yoon Soo-hyun reported the Fair Trade Commission’s Business Plan to President Yoon Seok-yeol.

Vice Chairman Yoon reported plans for five key tasks, including innovation of fair trade laws, promoting free market competition, eradicating market foul acts, strengthening the foundation for fair trade in SMEs, and establishing a trading order that suits consumer common sense.

Yoon said, In particular, trust between the market and the government must be premised in order to establish a fair market economy.

Vice Chairman Yoon also reported, We will focus on bold regulatory reforms and eradication of market rule, and focus on strengthening the fair trading base to be given just a fair price for SMEs’ innovation efforts.

President Yoon, who received the report, ordered Vice Chairman Yoon to strengthen the transparency and prediction of the enforcement process, such as laws, investigations, and judgments in the enforcement of the law to establish a fair trade order.

In particular, President Yoon said, In the case of dealing with the case, we will make sure that we will be able to preserve and manage evidence and establish a rapid processing system.

■ Fair Trade Law Innovation

The FTC plans to improve the likelihood of predicting investigation and case processing, and to efficient legal execution to promote damage relief quickly and efficiently.

To this end, the procedure was established to make it more clearly informed of the specific survey targets and scope of the company, and to allow companies to dismiss the investigation process, such as submission of data.

In addition, the European Union (EU) benchmarks listening to opinions from time to time through the event progress meeting, and expands the opportunity to submit official opinions from the previous stage of the committee deliberation.

The deliberations were activated and the penalty case was decided to specify the reason for the default. In the meantime, the deliberations have been decided at discretion, but when they apply for large-scale cases, the deliberation is mandatory in principle.

There is also a convincing fair case processing standard. The FTC decided to clarify the exception of the application of unfair support and private interests and to establish a criteria for legal execution considering the dynamic efficiency of the online platform.

It also revitalizes private disputes, such as prevention of violations and disputes. The FTC will focus on fast damage remedies rather than punishment, and the simple order of order (affiliate and agency) will be transferred to local governments and processed quickly.

■ Promotion of free market competition

The FTC will actively support the reform of unnecessary regulations and reorganization to cope with the digital economy so that private creativity can be expressed as much as possible.

It will focus on the competition for regulatory regulatory reform that strengthens market innovation competition beyond the improvement of regulations to resolve the regulation of corporate difficulties. The FTC reported to ease the bidding standards for public institutions or to improve regulations on the sales area of car sharing companies.

Reflecting the changed policy environment, the company decided to reduce the scope of ‘special related parties’ and relatives of large corporations, and to exclude the incorporation of large corporations in principle even if outside directors operate independent management companies. However, the actual married spouse of the same person (total number) decided to include it as a related person. It will also expand the probation of small and medium-sized venture companies.

In addition, the mergers and acquisitions (M & A), which have less than competition restrictions such as the establishment of private equity funds (PEFs), simple investment, and venture companies, are exempted or promptly examined.

The M & A screening system also plans to ensure that the FTC has designed and imposed corrective measures.

■ Eradication of market fouls

The FTC decided to strictly sanction market foul acts that form artificial entry barriers and fundamentally undermine fair competition principles.

In the core areas of digital economy such as semiconductor and mobile, the company plans to block the entry of competitive operators and interfere with business activities.

It also eradicates collusions that deny market competition principles such as cartel. In particular, the company plans to focus on the fields that are closely related to national life and industrial competitiveness.

It also strengthens internal transactions, including private interests and unfair support. Intensive inspection of affiliates for support for support for efficiency. However, the newly included companies in the discipline plan to provide violation prevention training.

■ Strengthening the Fair Trade Foundation for SMEs

It guarantees a fair price for the cost and innovation efforts of SMEs and eradicates unfair acts due to power imbalances.

The FTC plans to create a time-priced transaction environment. In May, the company plans to maximize the utilization of available policies, such as investigating the market status of raw material prices, and investigating the violation of the law.

In addition, the company plans to spread the autonomous linkage of the subcontracting agreement (jointly) distribution of subcontracting contracts (jointly) and proclamation ceremony, incentives, and exemplary case sharing.

The FTC plans to consider whether to interact with the supply price linkage in accordance with the trend of autonomous proliferation.

The plan is to thoroughly block the deodorization of SME technology. The FTC plans to block the incentives of technology deodorization at all stages, such as strengthening the detection, investigation, and sanctions, and to increase the effectiveness of damages such as the expansion of punitive damages.

The platform sector plans to complement the fairness by self-regulation for innovation growth. By establishing private-centered social discussion organizations such as autonomous dispute adjustment organizations, autonomous regulations such as autonomous agreements, win-win agreements, exemplary contracts, and terms and conditions were decided.

The company plans to support discussions such as excessive fees and opaque search exposure standards by major industries such as delivery apps and open markets.

■ Establishment of transaction order that fits the common sense of consumer

The FTC plans to block unfair damage from new types of digital transactions and resolve consumer safety blind spots directly related to national life and body.

It has decided to strengthen the deceased statement surveillance in the digital platform field, such as the SNS rear advertisement and false reviews. In addition, the company plans to correct unfair acts in the field of MZ generation interests such as game items and luxury commerce.

In addition, it will strengthen overseas fastball protection devices such as blocking products distribution and adjustment of international disputes, and seek ways to provide one-stop provision of safety certification information by ministries.

The company plans to reduce consumer damage in the sector of the people’s lives by sanctioning new technologies and services such as electric vehicles and 5G.

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