ID :
190275
Wed, 06/22/2011 - 07:58
Auther :
Shortlink :
https://oananews.org//node/190275
The shortlink copeid
FTC seeks to toughen crackdown on int'l cartels: chief
SEOUL, June 22 (Yonhap) -- South Korea's corporate watchdog will toughen its crackdown on international cartels as it sees such business malpractices as the "No. 1 enemy of the market economy," its chief official said Wednesday.
"A typical foul play in the market economy are cartels, which are also called the No. 1 enemy of the market economy," Fair Trade Commission (FTC) Chairman Kim Dong-soo told American businesspeople here during a meeting arranged by the American Chamber of Commerce in Korea (AMCHAM).
"The FTC has been at the forefront of controlling international antitrust violations. In line with this, we will actively uncover and regulate not only domestic but also international cartels targeting the Korean market," he noted.
He talked about the FTC's efforts over the past few years to intensify its crackdown on international cartels, citing the establishment of the International Cartel Division and expanded cooperation with its counterparts in the United States and the European Union in the area.
With regard to intellectual property rights (IPRs), an issue that draws keen attention from U.S. companies, Kim emphasized that he will work hard to eradicate any "foul play" in the area. But he noted that the FTC will intensify its oversight on those abusing their rights as well.
"IPRs are granted the exclusive use of innovative technologies, but sometimes IPR holders engage in abusive behavior that exceeds the rights rewarded for the innovation," he said.
"The IPR abuse that brings about anti-competitive effects is subject to strong enforcement of competition law in Korea, and as I know, this is the same in the U.S."
The antitrust agency chief said that he will set up the IPR abuse report center this year to intensify the monitoring of violations and distribute guidelines to help people properly exercise their IPRs, while preventing possible damage.
kokobj@yna.co.kr
"A typical foul play in the market economy are cartels, which are also called the No. 1 enemy of the market economy," Fair Trade Commission (FTC) Chairman Kim Dong-soo told American businesspeople here during a meeting arranged by the American Chamber of Commerce in Korea (AMCHAM).
"The FTC has been at the forefront of controlling international antitrust violations. In line with this, we will actively uncover and regulate not only domestic but also international cartels targeting the Korean market," he noted.
He talked about the FTC's efforts over the past few years to intensify its crackdown on international cartels, citing the establishment of the International Cartel Division and expanded cooperation with its counterparts in the United States and the European Union in the area.
With regard to intellectual property rights (IPRs), an issue that draws keen attention from U.S. companies, Kim emphasized that he will work hard to eradicate any "foul play" in the area. But he noted that the FTC will intensify its oversight on those abusing their rights as well.
"IPRs are granted the exclusive use of innovative technologies, but sometimes IPR holders engage in abusive behavior that exceeds the rights rewarded for the innovation," he said.
"The IPR abuse that brings about anti-competitive effects is subject to strong enforcement of competition law in Korea, and as I know, this is the same in the U.S."
The antitrust agency chief said that he will set up the IPR abuse report center this year to intensify the monitoring of violations and distribute guidelines to help people properly exercise their IPRs, while preventing possible damage.
kokobj@yna.co.kr
