Policies · Planned · 3 sources combined
Monopoly price abuse crackdown
First revision in 25 years
D-39 Deadline December 16 · Deadline for submitting comments on the revised enforcement decree
In short
Powerful companies can be punished for selling products more expensively in Korea than abroad.
Refusing to lower prices even when costs drop is also being targeted.
The Fair Trade Commission is updating rules that have remained unchanged since 2001 to fit today's market.
Key facts
| When | The revised enforcement decree will be announced for public comment from November 6 to December 16. |
|---|---|
| Who | The Fair Trade Commission is revising regulations for the first time in 25 years since 2001. |
| What | It strengthens rules against monopoly operators' price abuse and obstruction of business activities. |
| How | Higher domestic prices compared to overseas and maintaining high prices during cost declines will now be subject to penalties. |
What it means for me
Cases where consumers pay unreasonably high prices for monopoly products may decrease.
