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South Korea to seek ways to update competition enforcement decrees for digital era

( November 25, 2024, 09:06 GMT | Official Statement) -- MLex Summary: The South Korean competition regulator is soliciting bids for research on revising the competition law enforcement decree, focusing on abuse of market dominance and unfair trade practices to better address digital economy challenges. The Korea Fair Trade Commission said the four-month study, launching December 2024, will first examine gaps in the existing decree regarding consumer harm by dominant firms and suggest new standards reflecting digital economy and other emerging market conditions, drawing on the 2024 parliamentary audit of platform fees, KDI's platform research and Germany's Meta Platforms case where privacy violations were sanctioned as dominance abuse. Researchers will also review underenforced regulations to see if outdated standards are hindering effective enforcement, with the goal of proposing updates that reflect current market realities.The notice, in Korean, is attached....

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