South Korea: Antitrust chief nominee vows to achieve chaebol reform

According to the Korean Times, the South Korean Fair Trade Commission (KFTC) chairwoman nominee Joh Sung-wook has vowed to focus on achieving balanced development of the economy by reducing the abusive business practices of dominant market players.

President Moon Jae-in nominated Joh, an economics professor at Seoul National University, as the antitrust agency’s new chief on Friday, August 9.

Joh told reporters at the Korea Fair Trade Mediation Agency in Seoul that she “feels a great sense of responsibility for being nominated to head the KFTC, required to play a great role to achieve a fair economy, one of the three pillars of the President’s key economic policies.”

Joh said she “will put emphasis on both chaebol reform and achieving a fair economy.”

She added, “Not only large conglomerates but also small- and medium-sized enterprises are considered important (contributors in the economy).”

Full Content: Korea Times

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