FTC head briefs on competition rules

Fair Trade Commission Chairman Jeong Jae-chan, center, poses with members of the European Chamber of Commerce in Korea (ECCK) at Lotte Hotel in central Seoul, last Thursday. Among them are ECCK Secretary General Christoph Heider, left, and ECCK treasurer and CFO of BMW Korea Torban Karasek, second from right. / Courtesy of ECCK

By John Redmond

The European Chamber of Commerce in Korea (ECCK) hosted a breakfast meeting with Fair Trade Commission (FTC) Chairman Jeong Jae-chan at Lotte Hotel Seoul last Thursday.

Chairman Jeong focused on the FTC’s competition policy and its future direction in his presentation to around 50 participants representing ECCK member companies and European embassies.

The meeting was led by ECCK Secretary General Christoph Heider, followed by Torban Karasek, ECCK treasurer and CFO of BMW Korea, who provided opening remarks.

Jeong stressed the significance of the bilateral relationship between Korea and the EU and discussed the FTC’s aim to root out unfair practices and facilitate a free and fair trade market in Korea.

He also spoke in depth on the FTC’s four main tasks for its future competition policy: building a competition-friendly market, addressing unfair trade practices, creating a consumer-oriented market economy and improving law enforcement.

“This is the very moment to spread competition principles to all parts of the economy … to enhance economic vitality,” he said.