FTC Chief Highlights Divestiture Orders to Curb Private Benefit Taking

According to Yonhap News Agency reporter Song Jeong-eun in Manila, Fair Trade Commission Chairman Joo Byung-ki said excessive concentration of economic power in large business groups should be viewed as a structural cause of market monopolization. In that context, he explained that structural measures, including divestiture orders, could have a significant effect in curbing private benefit taking. The remarks show an emphasis on addressing conglomerate control and limits on market competition at a structural level. In future fair trade policy discussions, the effectiveness of tools to ease economic concentration and prevent private benefit taking is expected to become a key issue. Source: yna.co.kr