The pinnacle of South Korea’s antitrust watchdog vowed efforts Thursday to slim any variations between the nation’s proposed laws on on-line platforms and people of others, additionally stressing the necessity for shut communication with international corporations working right here to stop “pointless misunderstandings.”
The remarks by Ju Biung-ghi, chairman of the Honest Commerce Fee (FTC), come as Seoul is pushing to control world on-line platforms working within the nation.
“Constant dialogue is the best option to cut back pointless misunderstandings, and improve the effectiveness and credibility of insurance policies,” Ju stated whereas assembly with the heads of the American Chamber of Commerce in Korea, the European Chamber of Commerce in Korea and different main international enterprise foyer teams.
Ju highlighted “variations” in authorized methods and business-related environments of various international locations, however emphasised the FTC will make each effort to grasp such variations and “bridge any gaps.”
One of many FTC’s pending considerations is advancing laws aimed toward curbing monopolistic practices by main world platform operators.
President Lee Jae Myung, throughout his presidential marketing campaign, pledged to stop world on-line platform operators from abusing their market dominance by means of new regulatory measures, together with limits on fee charges and bans on unfair enterprise practices.
Ju earlier stated it might be tough to instantly transfer ahead with laws focusing on world on-line platforms, citing tariff-related talks with Washington.
Of their lately concluded tariff negotiations, Washington reportedly raised considerations about a number of non-tariff measures adopted by Seoul, together with its regulatory strategy towards on-line platforms.
Throughout Thursday’s assembly, individuals mentioned the FTC’s stance on platform laws and different pending points, the fee stated, with out offering additional particulars.
The assembly marked the primary of its type since Ju took workplace in August.
