[신년사] Cho Sung-wook, Chairman of the Fair Trade Commission, “Completing the digital fair economy system with a sense of speed”

▲ Sungwook Cho, Chairman of the Fair Trade Commission (photo provided by Fair Trade Commission)

On the 31st, Chairman of the Fair Trade Commission Cho Sung-wook emphasized that “the system must be completed with a sense of speed to realize a digital fair economy.”

Chairman Cho said in the 2021 New Year’s Address distributed that day, “We need to ensure that the digital market ecosystem can innovate through competition and grow in a sustainable direction on the basis of processes.”

He cited the establishment of the Platform Fairness Act and the revision of the E-Commerce Act as tasks for this.

Chairman Cho said, “We must consistently and strictly respond to behaviors that platform operators abuse monopoly power and hinder innovation and competition.”

Chairman Cho stressed, “We must actively communicate with stakeholders such as companies and steadily improve sub-norms such as the enforcement decree so that the first fully revised Fair Trade Act in 40 years can be implemented in accordance with the purpose of the amendment and the expectations of the public.”

He also mentioned the necessity of revising the affiliate business law, agency law, and subcontracting law.

Chairman Cho said, “As a control tower for government-wide consumer policy, efforts to lead government policies and institutions to develop in a more consumer-oriented direction should also be strengthened.”

Chairman Cho stressed that “we must actively monitor and strictly monitor the belief that unfair acts such as collusion and mischief will no longer work regardless of domestic and foreign business operators, and to strengthen the monitoring of large corporate groups’ abuse of economic power.” .