Fair Trade Commission Policy Direction Discussion: Seeking a Balance Between Regulation, Innovation, and Competitiveness
Event Summary
With the appointment of a new Chairman at the Korea Fair Trade Commission (KFTC) and the Commission’s planned organizational reform, Korea’s competition policy stands at a crossroads. Key debates now center on whether the KFTC should narrow its focus to core competition issues—such as platform regulation and global cartel enforcement—leaving corporate governance to company and securities law, as in the United States and Europe; or whether Korea’s unique chaebol structures justify continued, even stronger intervention by the KFTC. At the same time, questions remain over the need for a dedicated platform law such as the proposed Online Platform Fairness Act, and how to ensure long-term coherence and consistency across Korea’s regulatory framework.
Some experts argue that stronger enforcement and new statutes are needed to level the playing field, curb abuses of market power, and protect consumers. Others caution that excessive regulation could stifle innovation, harm both small and large businesses, and weaken Korea’s global competitiveness.
To shed light on these critical questions, ITIF convened an online debate in Korean. The session borrowed elements of an Oxford-style format, featuring prominent experts on both sides of the regulatory divide. Each speaker presented their perspective in an eight-minute statement, followed by audience Q&A.
Speakers
