South Korea: Antitrust chief nominee calls for expansion of class-action system
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.
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI