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South Korea: KFTC struggling to collect fines

 |  August 15, 2019

According to the Korean Times, the Fair Trade Commission (KFTC) has collected less than half the fines levied on corporations in 2018, raising questions about whether the corporate watchdog lacks the authority to enforce penalties.

According to data from the National Assembly Budget Office, the antitrust regulator has collected 239.3 billion won (US$197 million) out of 529.5 billion (US$436.2 million) of penalties imposed on international and domestic companies since 2017. The collection rate is 45.2%.

The rate was 60% in 2015 and 60.1% in 2016, but has fallen sharply since 2017.

Full Content: Korea Times

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