jasdooit

The Korea Fair Trade Commission (KFTC) on the 31st introduced a reform proposal aimed at amending its exclusive authority to lodge complaints, enabling individuals or companies to report potential breaches of the Fair Trade Act when a specific number of them come together.

Chairperson Ju Biung-ghi of the KFTC disclosed this expansion plan regarding the exclusive right to submit complaints and the right to request complaints during a Cabinet meeting led by President Lee Jae Myung at Cheong Wa Dae on that day.

At present, out of the 13 laws under the KFTC’s authority—such as the Fair Trade Act, Subcontracting Act, Franchise Business Act, Large-Scale Retail Business Act, Agency Act, and Labeling and Advertising Act—six of them mandate that the KFTC must file a complaint before any prosecution can occur.

Chairperson Ju provided examples like the Board of Audit and Inspection’s citizen audit request system and suggested broadening the right to submit complaints, enabling prosecution when a specific number of citizens (300 regular citizens or 30 business operators) lodge a complaint.

The KFTC also suggested extending the authority to file complaints, which is currently limited to the Prosecutor General, the head of the Board of Audit and Inspection, the Minister of SMEs and Startups, and the head of the Public Procurement Service, to cover 50 central administrative agencies, 17 metropolitan governments, and 226 local governments. The initiative seeks to widen the range, moving beyond the present rule that requires the KFTC to forward cases to the Prosecutor General when a request is made.

The KFTC intends to complete the government’s proposal, taking into account the outcomes of the Cabinet meeting discussions, and move forward with legal changes.

• Monday 5900 won membership, 2900 won for newspaper readers, Chosun Membership
• 8 titles of newspapers and magazines worth 55,000 won, enjoy unlimited access – Chosun Membership
• Receive 7000 points to use like cash, shop wisely, Chosun Membership