[Reporter's Notebook] FTC's costly crackdown on conglomerates generates little return
The Fair Trade Commission’s (FTC) increasingly aggressive crackdown on major conglomerates is generating a costly cycle with little tangible return, as the watchdog has been forced to refund billions of won in fines overturned by courts. The watchdog has returned nearly 290 billion won ($216.7 million) to companies since 2022 after administrative court rulings overturned its sanctions. The…
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The Fair Trade Commission's (FTC) increasingly aggressive enforcement against large conglomerates has resulted in significant financial losses, with the watchdog returning billions of won in fines that were later overturned by courts. Since 2022, the FTC has refunded nearly 290 billion won ($216.7 million) to companies, raising questions about the effectiveness of the regulator's tougher stance.
For the first nine months of the current year, the FTC returned 23 billion won in fines and associated payments, with 99.7% of the amount due to sanctions being overturned through administrative litigation. Despite the regulator's efforts under President Lee Jae Myung, the government continues to push for further strengthening of enforcement measures.
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- FTC's costly crackdown on conglomerates generates little return koreatimes.co.kr
