- Senior Officials from Korea, ASEAN, and CIS Competition Authorities Discuss Recent Trends in Competition Policy and Law Enforcement, as well as Measures for Fostering a Fair Competition Ecosystem in the Digital Age
< Event Overview >
- Date and Venue: October 29, 2024 (Tuesday) 09:25-12:25, Grand Intercontinental Parnas Hotel
- Key Attendees: Korea Fair Trade Commission, Armenia’s Competition Protection Commission, Malaysia Competition Commission, Mongolia’s Antimonopoly Agency, Kazakhstan’s Agency for Protection and Development of Competition, Philippines Competition Commission, Uzbekistan’s Committee for Competition Development and Consumer Protection, UNCTAD, Korea Fair Trade Mediation Agency, among others (about 30 participants in total).
- Agenda:
- Trends and key cases in each country’s competition law and policy
- Strategies for fostering a fair competition ecosystem in the digital age
The Korea Fair Trade Commission (hereafter “KFTC”) held a consultation meeting on October 29 in Seoul’s Grand Intercontinental Parnas Hotel with high-level officials from ASEAN and CIS* competition authorities to share the latest trends in competition policy, discuss law enforcement developments, and explore avenues for cooperation.
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*The CIS (Commonwealth of Independent States) is an association of countries that gained independence after the dissolution of the Soviet Union.
The Korea-ASEAN-CIS Competition Authorities Consultation Meeting began as a working-level international competition workshop in 2021, gradually elevated in rank each year. This year marks the second time the meeting has been attended by senior officials, with participants from two ASEAN countries (Malaysia and the Philippines) and four CIS countries (Armenia, Mongolia, Kazakhstan, and Uzbekistan).
In the opening address, KFTC Vice Chair Jo Hong-sun highlighted the importance of inter-agency cooperation, noting, “As market boundaries expand rapidly and new technologies such as artificial intelligence (AI) continue to emerge and develop, cooperation between competition authorities is more crucial than ever.” He emphasized that “sharing experiences and research results through collaborative responses can contribute to establishing more predictable and effective competition principles.”
The meeting was structured in two sessions. In Session 1, representatives from Kazakhstan, Malaysia, Mongolia, and the Philippines presented on competition policy trends and major law enforcement cases in their respective countries. Discussions focused on law enforcement developments regarding unfair trade practices in essential sectors, such as cement and flour, as well as in agriculture and fisheries. Also covered were studies and regulatory approaches related to the digital economy.
In Session 2, representatives from Armenia, Uzbekistan, Korea, and UNCTAD discussed strategies for fostering a fair competition ecosystem in the digital era. KFTC Competition Policy Director Shin Dong-yeol delivered a presentation titled “KFTC’s Response to the Opportunities and Challenges of the Digital Economy,” introducing regulatory improvements aimed at promoting digital competition and sharing cases of KFTC actions against unfair trade practices by online platforms such as Google and Coupang.
Finally, KFTC Secretary General Nam Dong-il, in his closing remarks, stressed the growing importance of collaboration among competition authorities facing common challenges of fostering innovation and enhancing consumer welfare. He pledged to continue organizing collaborative forums like today’s meeting, especially given the ever-evolving market landscape driven by digital and AI advancements.
KFTC plans to build on its network with ASEAN and CIS competition authorities not only through technical support programs for working-level staff but also by holding high-level dialogue forums such as this one, thereby strengthening its role as a leading competition authority in the Asia region.