News and developments
KFTC Announces Enforcement Plan for 2023
The 2023 Plan presents the KFTC’s roadmap to achieve its goal for the year under the slogan, “Fair Market Economy with Upright Principles,” and sets out the following as central tasks: (i) create a market environment that promotes innovation through competition, (ii) strengthen the basis to enable fair transactions for small and medium-sized enterprises (“SMEs”) as well as small business owners, (iii) rationalize the operation of the large business group system, (iv) foster a transactional environment that guarantees consumer rights and (v) establish a trusted law enforcement system.
Below we summarize the key points for each of the mentioned tasks.
- Promote Innovation in Digital Market by Fostering Competition
- Strengthen Basis for Fair Transaction of SMEs and Small Businesses
- Reasonable Operation of Large Business Group System
- Foster Transactional Environment that Guarantees Consumer Rights
- Establish Law Enforcement System That Is Trusted by Public and Market