According to the Korean Times, the Fair Trade Commission (KFTC) has collected less than half the fines levied on corporations in 2018, raising questions about whether the corporate watchdog lacks the authority to enforce penalties.
According to data from the National Assembly Budget Office, the antitrust regulator has collected 239.3 billion won (US$197 million) out of 529.5 billion (US$436.2 million) of penalties imposed on international and domestic companies since 2017. The collection rate is 45.2%.
The rate was 60% in 2015 and 60.1% in 2016, but has fallen sharply since 2017.
Full Content: Korea Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Regulators Set to Clear Microsoft’s $13B OpenAI Investment
Apr 17, 2024 by
CPI
Biden Pledges to Block US Steel Acquisition by Japanese Firm
Apr 17, 2024 by
CPI
Canada Targets Tech Titans with New Digital Tax in 2024
Apr 17, 2024 by
CPI
EU Privacy Watchdog Calls for Meta to Offer Ad-Free Option
Apr 17, 2024 by
CPI
Japan’s Antitrust Overhaul Targets Tech Titans Like Apple
Apr 17, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – China Edition – Year of the Dragon
Apr 16, 2024 by
CPI
Review Logic and Rules for Concentrations of Undertakings that Do Not Meet the Standard of Notification
Apr 16, 2024 by
CPI
China’s Review of Semiconductor Transactions
Apr 16, 2024 by
CPI
Key Challenges and Tips for Merger Control Filing in China for Listed Companies
Apr 16, 2024 by
CPI
Key Point Review: China SPC Antitrust Judgments in 2023
Apr 16, 2024 by
CPI