South Korea’s Fair Trade Commission (FTC) has announced a comprehensive update to its advertising and labeling regulations. (Image courtesy of Yonhap)
SEOUL, Dec. 15 (Korea Bizwire) — The head of South Korea’s antitrust watchdog on Monday pledged to ensure that foreign companies do not face unequal treatment in the country, reaffirming the agency’s principle of non-discrimination.
Ju Biung-ghi, chairman of the Fair Trade Commission (FTC), made such a remark during a meeting with the American Chamber of Commerce in Korea (AMCHAM).
“The FTC will continue to uphold the principle of non-discrimination between domestic and foreign companies in both regulatory frameworks and law enforcement, ensuring that foreign firms do not face unfair treatment or unnecessary barriers,” he said.
The chairman outlined the main directions of the FTC’s competition policy, such as establishing a fair competition framework to support an innovative ecosystem and creating a safe and trustworthy consumer environment.
“In the era of digital transformation, it is important to establish a fair competitive order that ensures appropriate rewards for innovation,” he said. “This will promote competition and enable innovation to expand into new industries.”
(Yonhap)
