The emergency head of the main opposition Liberty Korea Party(LKP) has expressed concerns about the government’s plan to revise the fair trade law.
Kim Byong-joon, the head of the LKP’s emergency committee, met with Fair Trade Commission(FTC) Chairman Kim Sang-jo at the National Assembly on Friday, where he voiced concerns about plans announced by the commission last month to overhaul the Fair Trade Act.
Kim specifically took issue with the watchdog’s plan to abandon its exclusive right to call for the prosecution’s investigation into unfair trade activities in the market and instead allow anybody to file related accusations, saying it will further discourage corporate activities.
The LKP chief said the opposition party is opposed to the commission’s move for several reasons, mentioning public distrust in the prosecution.
The FTC chairman denied speculation that a revision of the fair trade law is aimed at suffocating companies saying laws made in the past need to be revised in line with the changing economic environment.
[Photo : YONHAP News]