Fair Trade Commission (South Korea)

Fair Trade Commission
Emblem of the Korea Fair Trade Commission
Hangul
Hanja
Revised Romanization	Gongjeong Georae Wiwonhoe
McCune–Reischauer	Kongjŏng Kŏrae Wiwŏnhoe

The Korea Fair Trade Commission (KFTC) is South Korea's regulatory authority for economic competition. It was established in 1981 within the Economic Planning Board. The establishing law was the Monopoly Regulation and Fair Trade Act (MRFTA), Law No. 3320, December 31, 1980. In 1994, the Fair Trade Commission and its Secretariat were separated from the Economic Planning Board as an independent vice ministerial-level, central administrative organization. In 1996, the status of the KFTC Chairman was elevated from vice-ministerial to ministerial level.

The original KFTC had five commissioners from 1981 to 1990. This was increased to seven commissioners from 1990 to 1997. Since 1997 the KFTC has had nine commissioners, which includes a Chairman, a Vice-Chairman, and three other standing commissioners. There are four non-standing commissioners. The KFTC is supported in its work by a Secretariat.

The current KFTC Chairman is Jeong Jae-Chan.

Apart from the MRFTA, the KFTC enforces the following statutes:

On December 7, 2005, the KFTC reached the decision to order Microsoft Corporation and Microsoft Korea, inter alia, to unbundle certain tied products, including Windows Media Player and MSN Messenger, and to impose surcharges amounting to 33 billion won (31 million US dollars) for violation of the Monopoly Regulation and Fair Trade Act (MRFTA), including the abuse of market dominant position provision. On October 16, 2007, the Associated Press reported that Microsoft has stopped appealing the December 2005 decision and has withdrawn the appeal.

On February 28, 2011, the KFTC declared, "Through a meeting held from February 23rd through the 25th, we have decided to take appropriate action against the following 15 online music-related companies: SK Telecom, LOEN Entertainment, KT, KT Music, Mnet Media, Neowiz Bugs, Sony Music Entertainment Korea, Universal Music, Warner Music Korea, Yejeon Media, Pony Canyon Korea, S.M. Entertainment, SBS Contents Hub, King Pin Entertainment, Direct Media."