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| Fair Trade Commission Chairman Han Ki-jeong, front row fifth from left, and American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim, front row fourth from left, pose with participants of a special luncheon event at Grand Hyatt Seoul, Monday. Courtesy of AMCHAM |
By Park Jae-hyuk
Foreign business representatives expressed their concerns over Korea's antitrust policies during a meeting, Monday, with Fair Trade Commission (FTC) Chairman Han Ki-jeong and members of the American Chamber of Commerce in Korea (AMCHAM).
"You mentioned the fact that the FTC chose its investigation into the monopolistic mobility platform as one of its key tasks," an official of UT, a joint venture between Uber and SK Telecom's subsidiary Tmap Mobility, told Han. "UT has also suffered difficulties regarding this issue, so we are wondering whether the FTC can accelerate its investigation."
The antitrust watchdog decided earlier this year to issue a fine of 25.7 billion won ($20 million) on Kakao Mobility, the nation's leading taxi-hailing service, for its alleged manipulation of algorithms to give more calls to cabs under its franchise, while excluding taxi drivers affiliated with the company's rivals, including UT and Tada.
Kakao Mobility, however, protested the FTC's sanction at that time, threatening to take legal action.
The FTC chairman said the antitrust agency will do its best to conduct prompt investigations regarding cases related not only to the mobility sector, but also to other industries.
"We are not allowed to talk about the ongoing case," he said.
Google Korea raised concerns over possible regulations on big tech firms here, as the antitrust chief said that the government will boost international cooperation to prevent discrimination against the Korean market after the enforcement of the European Union's Digital Markets Act coming in May.
"As a U.S. company, we prioritize U.S. laws when offering all of our products and services globally," a Google Korea official said.
In response, the FTC chairman said his agency has yet to devise specific plans regarding this issue.
He also promised that the FTC will guarantee a company's right to defense, as Jeffrey Jones, chairman of AMCHAM Partners for the Future Foundation, asked how the antitrust regulator will respond to complaints about crackdowns on businesses.
During the event, Han said the main tasks for the FTC this year are to create a market environment facilitating innovative competition, promote fair trade for small businesses, ensure better regulations for large business groups and create a trade environment that guarantees consumer rights and interests.
He also explained that the FTC will strengthen its independence and fairness this year by separating the roles of its investigation and deliberation bureaus.
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