The Asia-Pacific Antitrust Review 2011

Korea: Overview

At the end of each year, the Korea Fair Trade Commission (the KFTC) reports its work plans to the presidential office, assessing the KFTC’s performance during the course of the past year and setting out areas of focus for the coming year. The KFTC reported its work plans for 2011 (the 2011 Plan) to the presidential office on 15 December 2010 and to the National Assembly on 8 March 2011; it made key elements of those work plans publicly available on 10 January 2011. The 2011 Plan sets out the KFTC’s broad objectives to: foster stability in the day-to-day lives of average consumers by focusing on price stabilisation; and promote the development of small and medium sized businesses (SMEs). By providing broad guidelines on the KFTC’s key areas of focus, the 2011 Plan helps to provide businesses with a clearer understanding of the KFTC’s regulatory objectives, enabling such businesses to develop more tailored, effective compliance programmes.