South Korean lawmaker proposes bill to end KFTC's big fine reductions

( June 30, 2016, 06:58 GMT | Insight) -- South Korean opposition Democratic Party legislator Kim Dong-chul proposed a bill today to stop the Korea Fair Trade Commission granting fine reductions of more than 40 percent, Financial News reports.South Korean opposition Democratic Party legislator Kim Dong-chul has proposed a bill to stop the Korea Fair Trade Commission granting fine reductions of more than 40 percent, Financial News reports. Kim said the competition agency had given fine reductions worth 2.92 trillion won ($2.53 billion) to 695 companies in 147 cases between 2012 and July 2015. The reductions were more than half of the original fines of 5.23 trillion won. Kim said that giving such reductions was an arbitrary process, and not only an abuse of the KFTC's role but also a sop to companies involved in violations of the law. ...

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South Korean lawmaker proposes bill to end KFTC's big fine reductions

Prepare for tomorrow’s regulatory change, today

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