Korea Fair Trade Commission announces plans to amend regulations to prevent companies from evading field investigations, signaling tougher enforcement; Coupang and Hanwha cited as examples.
According to Maeil Business Newspaper, the Korea Fair Trade Commission plans to amend regulations to prevent investigation evasion as Coupang and Hanwha push back during field investigations, signaling tougher enforcement. Chair Joo Byung-gi emphasized reviewing internal rules and implementing a plan to raise sanctions for investigation evasion, with a focus on consumer life sectors and a revived investigation bureau next month after 21 years, and a crackdown on repeated cartels in 20 industries including transport, safety and environment.
Key facts
- 01Coupang and Hanwha resisted field investigations, prompting the plan to tighten rules to prevent evasion.
- 02The agency aims to raise sanctions for dodging investigations and to revise internal rules.
- 03A focused investigative planning unit will be relaunched next month after 21 years, to scrutinize consumer-life sectors.
- 04The agency will pursue business suspensions for repeat cartels in 20 industries, including transport, safety and environment.
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