A PYMNTS Company

South Korea: Antitrust chief nominee calls for expansion of class-action system

By  |  September 2, 2019

South Korean President Moon Jae-in’s pick to lead South Korea’s antitrust regulator called Monday, September 2, for the expansion of the country’s class-action system to better protect consumers.

Joh Sung-wook said in a parliamentary hearing that the lack of a class-action system for consumers is one of reasons behind foreign companies’ reluctance to issue voluntary recalls or take corrective measures.

Joh, who was nominated by Moon last month to head the Fair Trade Commission, said class-action lawsuits should be revitalized to change corporate perception of South Korean consumers.

Full Content: Yonhap News Agency

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.