Washington – In policy talks with the American Chamber of Commerce in Korea, Chairman of the Korea Fair Trade Commission (KFTC) Han Ki-jeong has announced that the Commission will continue pushing for a competition bill while considering some of the key concerns of foreign operators in the Korean market. KFTC Chairman Ki-jung Han declined to give details on the state of the platform bill today, but noted that they planned to consult a wide range of stakeholders as they develop a “reasonable” bill to maintain a fair and competitive business environment that ensures consumers’ rights and interests and those of small and medium sized businesses are represented.
Korea’s previous Platform Competition Promotion Act (PCPA) would have imposed discriminatory burdens on innovative U.S. exporters, harm competition in Korea. By targeting U.S. digital exports with elaborate new regulatory obligations, the bill threatened to disadvantage U.S. businesses, workers, and consumers.
The Computer & Communications Industry Association has advocated for tech policy that advances competition and innovation for over 50 years.
The following can be attributed to CCIA Vice President of Digital Trade Jonathan McHale:
“As a strong ally and trade partner, we welcomed Korea’s decision last month not to move forward with legislation that simultaneously disadvantaged American businesses and aided companies from non-market economies. We appreciate the KFTC’s plans to examine the issue with more deliberation and allow input from a range of stakeholders as they consider what steps to take next for a fair and competitive business environment in Korea. In particular, we urge Korea to continue reconsidering the need for ‘pre-designating’ specific companies, an approach that can lead to arbitrary and discriminatory burdens on targeted companies. We look to KFTC to work in partnership with the other voices in the inter-agency process to ensure that the final draft of the policy is fair and supportive of U.S. firms’ presence in the market.”