Korea’s Antitrust Chief Pledges Tougher Action Against Repeat Price Fixing

South Korea’s antitrust chief has pledged tougher action against price fixing and other unfair market practices that raise household costs, outlining a broader enforcement agenda during a parliamentary audit on Monday.

Fair Trade Commission Chairman Ju Biung-ghi told lawmakers that the agency plans to overhaul its policies to address entrenched collusion more effectively. Measures under consideration include revoking the registrations of businesses that repeatedly engage in price fixing, seeking business suspensions and ordering companies to reset prices.

The proposals signal an effort to move beyond financial penalties when repeated violations continue to affect consumers. Ju framed the initiative as part of the commission’s response to practices that place additional burdens on the public. The watchdog plans to focus particularly on industries closely connected to everyday spending, including weddings, leisure services and funerals.

Ju also said the commission wants to strengthen the position of small businesses, self-employed workers and other groups that may have less bargaining power. Its policy goal, he said, is to reduce imbalances among market participants so that companies can compete on fairer terms and receive appropriate compensation.

Digital markets will be another major area of scrutiny. The FTC intends to monitor whether powerful platform operators abuse their position, including online marketplaces as well as delivery and accommodation applications. It also plans to conduct close reviews of mergers involving such businesses to protect competition.

The agenda extends to South Korea’s large business groups. Ju said the commission would seek to reduce the economy’s dependence on conglomerates while proactively watching for unfair conduct. He presented stronger enforcement against abuses by dominant market players as a way to let businesses concentrate on operations and technological innovation rather than navigating distorted competition.

The remarks set out the regulator’s priorities at a time when the cost of essential and routine services remains a politically sensitive issue. The practical effect will depend on how the FTC turns the proposed sanctions into policy and applies them to repeat offenders. For consumers and smaller firms, the central question is whether stronger remedies can deter collusion and curb abuses of market power in sectors that shape daily expenses.