Antitrust watchdog to expand workforce to rein in conglomerates, platforms

Fair Trade Commission Chairman Ju Biung-ghi, right, answers questions from lawmakers during a plenary session of the National Assembly in Seoul, Tuesday. Yonhap

The Fair Trade Commission (FTC) is poised to reinforce its regulatory authority, as it prepares for a significant manpower expansion next year.

According to the government’s 2026 budget plan, the number of employees at the antitrust watchdog will increase to 814 in 2026, up 22 percent from 667 this year. The agency will also raise its labor spending by 13.2 percent over the same period.

This is in line with the policy initiative of President Lee Jae Myung and his administration. Shortly after taking office in June, Lee advocated for the need to increase the manpower of the FTC, underscoring the importance of prompt and tight corporate regulation.

The government also allocated a budget of 186.6 billion won ($127 million) for the FTC next year, up 14.2 percent from this year.

The FTC’s new Chairman, Ju Biung-ghi, also announced plans to establish a digital market monitoring team to investigate unfair or collusive practices by platform companies.

Ju, who took office as head of the watchdog in September, is known as a strong supporter of tough enforcement measures against conglomerates, believing that strict regulation will deter them from engaging in unlawful business practices.

“We consider establishing a new team dedicated to monitoring and investigating any undue business practices regarding artificial intelligence and algorithm collusion,” Ju said during a National Assembly audit last month.

Details have not been disclosed, but the watchdog is considering allocating part of its expanded workforce to the new team.

The decision reflects the FTC’s strong commitment to regulating market-dominant platform companies, which the watchdog believes engage in collusive and unfair practices that harm consumer interests.

With increased investigative personnel and a larger budget, the FTC is expected to take a more proactive regulatory stance, imposing fines on a broader range of companies that violate the nation’s fair competition rules.