Joo Byeong-gi, Candidate for Fair Trade Commission Chairman, "Approach Online Platform Law Considering Korea-US Negotiations"

[Financial News] Joo Byeong-gi, candidate for Fair Trade Commission Chairman, stated on the 14th regarding online platform regulation, "As a sovereign nation, we must make decisions autonomously, but since Korea-US trade negotiations are currently underway, legislation should be approached cautiously." He emphasized, "I will prepare the best plan after the negotiations," and "even during the legislative gap, I will maximize the use of existing laws and the administrative authority of the Fair Trade Commission to curb the tyranny of platform operators." 
Joo candidate met with reporters at 10 a.m. on the 1st floor of the Korea Chamber of Commerce and Industry on this day, saying, "It is difficult to pursue independently in a situation where trade negotiations with the world's strongest hegemonic country are underway."
Regarding concerns about regulatory gaps due to the legislative gap of the online platform law, he said, "Legislation alone cannot solve all problems," and "I will maximize the use of existing laws and the administrative authority of the Fair Trade Commission to sanction unfair practices by platform operators and create a market order that enhances the bargaining power of the weak." He also stated regarding monopoly regulation, "There are still many areas that can be improved without amending the law."
Regarding the expansion of personnel at the Fair Trade Commission, he emphasized, "The Korean economy has grown rapidly, but institutional maturity has lagged behind," and "To play a role commensurate with the economic scale, strengthening the organizational capacity of the Fair Trade Commission is urgent." He further explained, "By significantly enhancing economic analysis, data production, and analysis capabilities, we will secure a fair balance of power that protects the public and small businesses from the tyranny of capital."
Joo candidate stated, "In the past, economic growth was promoted by concentrating privileges on a few minorities, but such methods no longer work," and "We must transition to a system where economic underdogs are rewarded for their efforts and investments." He particularly pointed out, "Favoritism based on blood ties, regional ties, and school ties is still rampant in the Korean economy," and "If these wrong practices are not corrected, sustainable growth is difficult."
Joo candidate emphasized, "If economic strongmen block the innovative achievements of the weak, who will try to innovate?" and "The Fair Trade Commission will do its best to curb the bullying of the strong and create a fair trading order."


imne@fnnews.com Hong Ye-ji Reporter