Fair Trade Commission (South Korea)

Fair Trade Commission (South Korea)

Infobox Korean name
hangul=linktext|공정|거래|위원회
hanja=linktext|公|正|去|來|委|員|會
rr=Gongjeong Georae Wiwonhoe
mr=Kongjng Krae Wiwnhoe
The Korea Fair Trade Commission (KFTC) is South Korea's regulatory authority for economic competition. It was established in 1981 within the Economic Planning Board. The establishing law was the Monopoly Regulation and Fair Trade Act (MRFTA), Law No. 3320, December 31 1980. In 1994, the Fair Trade Commission and its Secretariat were separated from the Economic Planning Board as an independent vice ministerial-level, central administrative organization. In 1996, the status of the KFTC Chairman was elevated from vice-ministerial to ministerial level.

Organization

The original KFTC had five commissioners from 1981 to 1990. This was increased to seven commissioners from 1990 to 1997. Since 1997 the KFTC has had nine commissioners, which includes a Chairman, a Vice-Chairman, and three other standing commissioners. There are four non-standing commissioners. The KFTC is supported in its work by a Secretariat.

The current KFTC Chairman is yong-ho bak.

Enforcement

Apart from the MRFTA, the KFTC enforces the following statutes:

- Adhesion Contract Act, Law No. 3922, December 31 1986.

- Fair Labelling and Advertising Act, Law No. 5814, February 5 1999.

- Omnibus Cartel Repeal Act, Law No. 5815, February 5 1999.

- Door-to-Door Sales Act, Law No. 4481, December 31 1991.

- Installment Transactions Act, Law No. 4480, December 31 1991.

- Fair Subcontract Transactions Act, Law No. 3799, December 31 1984.

- Fair Franchise Transactions Act, Law No. 6704, May 13 2002.

- Consumer Protection in Electronic Commerce Act, Law No. 6687, March 30 2002.

Microsoft Decision

On December 7 2005, the KFTC reached the decision to order Microsoft Corporation and Microsoft Korea, inter alia, to unbundle certain tied products, including Windows Media Player and MSN Messenger, and to impose surcharges amounting to 33 billion won (31 million US dollars) for violation of the Monopoly Regulation and Fair Trade Act (MRFTA), including the abuse of market dominant position provision. On October 16th, 2007, the Associated Press reported that Microsoft has stopped appealing the December 2005 decision and has withdrawn the appeal.

ee also

*Competition law
*Competition policy
*Competition regulator
*Consumers' Association
*Consumer protection

External links

* [http://www.ftc.go.kr/eng/ Official English language website of the KFTC]
* [http://ftc.go.kr/data/hwp/micorsoft_case.pdf Official KFTC English Decision in Microsoft Case PDF ]
* [http://www.iht.com/articles/ap/2007/10/16/business/AS-FIN-SKorea-Microsoft.php Microsoft wants to drop antitrust appeal in South Korea]


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