First, I extend my deepest condolences to the families of those who tragically lost their lives in the unexpected plane crash on December 29.
The government is making every effort to handle the aftermath of the accident and support the victims. Moving forward, we will thoroughly investigate the cause of the accident to ensure such tragedies never happen again, while also striving to inspect and improve our safety systems.
Dear Members of the Korea Fair Trade Commission,
The Year of the Wood Snake, 2025, has dawned upon us.
Last year was filled with many challenges, but despite the difficult circumstances, every one of you at the Fair Trade Commission remained dedicated and diligent in your respective roles.
As a result, we successfully implemented various policies and legal actions in a timely manner to build a fair market economy that supports both the public and innovation. While there were areas for improvement, I believe we achieved meaningful progress.
Looking back on our achievements:
We took firm measures against unfair practices in online shopping malls, taxi-hailing apps, and collusion in sectors related to consumer goods and intermediate goods.
Efforts were made to prevent the spread of damages and recurrence of issues stemming from the so-called "Timon-TMON" incident, which affected small businesses and consumers.
Additionally, we prioritized the protection of small businesses and entrepreneurs by increasing the punitive damage cap for technology misappropriation, addressing abusive practices involving franchise essential items, and formulating cooperative measures in the food delivery, accommodation apps, and mobile gift card sectors.
We also swiftly responded to emerging transaction issues such as dark patterns and shrinkflation, as well as consumer concerns in areas like wedding preparations, online gaming, and cross-border e-commerce.
Furthermore, we enhanced oversight of unfair internal transactions and established clear criteria for identifying controlling shareholders to ensure rational operation of policies for large business groups.
I once again thank all of you for your hard work and dedication.
Dear Members of the Fair Trade Commission,
As we look ahead to this year, our economic situation is expected to remain challenging. Delayed domestic recovery is exacerbating the hardships of daily life, while heightened uncertainties both domestically and internationally increase the risks of an economic downturn.
During times like these, the burdens on economically vulnerable groups—such as small businesses, entrepreneurs, and consumers—tend to grow, and the risk of opportunistic unfair practices rises.
Moreover, the stagnation of key industries that have driven our economy, coupled with a slowdown in export growth, highlights the urgent need to develop new engines for future growth.
Against this backdrop, I believe the responsibilities and expectations placed upon the Fair Trade Commission in 2025 are greater than ever.
Key priorities for this year include:
1. Enhancing the economic vitality of small businesses and entrepreneurs
Amid slow domestic recovery and weakened economic sentiment, small businesses and entrepreneurs are facing severe difficulties.
We must prioritize strengthening mechanisms to ensure fair compensation for subcontractors and suppliers, particularly in the subcontracting and retail sectors.
Efforts should focus on improving payment protections and ensuring compliance with settlement deadlines on online intermediary platforms. Participation in revising the Large-scale Distribution Act to prevent misuse of funds is also crucial.
Simultaneously, we must swiftly address the challenges facing franchise owners and agents, working to improve their business conditions and resolve operational difficulties.
2. Fostering innovation and competition to secure future growth drivers
Economic growth and corporate innovation are possible only through fair and free competition.
We must eliminate cartels and various unfair trade practices that hinder innovation and growth, especially those that affect core industries or burden small and venture businesses.
Particular attention must be paid to addressing anti-competitive practices by large monopolistic platforms and enhancing surveillance of unfair behaviors by platform companies that play a significant role in daily life.
3. Protecting consumer rights and enhancing welfare
Addressing the demographic crisis caused by low birth rates and aging populations requires concerted efforts across the government.
As the agency responsible for consumer protection, the Fair Trade Commission should devise measures to enhance consumer welfare in areas of significant interest across all generations, from marriage, childbirth, and childcare to leisure, daily life, and senior services.
Additionally, with the rise of digital and global consumer environments, we must continue to focus on preventing new forms of consumer harm and ensuring consumer safety, such as regulating hazardous items in cross-border e-commerce.
4. Rationalizing policies for large business groups
We must maintain strict oversight of unfair internal transactions that hinder fair market competition while establishing appropriate sanctions for regulatory evasion or illicit practices.
Simultaneously, efforts to balance and rationalize policies for large business groups in line with changing market conditions should continue. For instance, criteria for designating public disclosure target groups should be aligned with GDP growth, and we must collaborate with the National Assembly to amend the Fair Trade Act swiftly to promote venture capital investment and address corporate burdens.
Dear Members of the Fair Trade Commission,
In the Analects (Lunyu), Yuzi, a disciple of Confucius, stated: “The superior man devotes himself to the fundamentals; when the fundamentals are established, the Way naturally appears.”
Despite the challenging circumstances we face in 2025, let us remain steadfast, adhering to our principles and core values.
By focusing on our responsibilities and roles, we can forge a path forward guided by the wisdom of “establishing the fundamentals to discover the Way”.
As we embark on the New Year, I wish all of you and your families good health and happiness.
Thank you.