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.
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The Korea Fair Trade Commission (headed by Chairperson Kim Sang- Jo, hereinafter referred to as the ‘KFTC’) decided to impose remedies and approximately 7.6 billion won penalty surcharges* against Korean Reinsurance Co., (hereinafter referred to as ‘Korean Re’) for blocking potential rivals from (...)
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