( September 16, 2026, 07:55 GMT | Official Statement) -- MLex Summary: South Korean civic group Citizens’ Coalition for Economic Justice said Wednesday that fines imposed by the Korea Fair Trade Commission from 2005 through July 2026 totaled a little less than 11.3 trillion won ($8.3 billion), equivalent to just 1.9 percent of the 580.3 trillion won in relevant sales and other amounts used as the basis for calculating penalties. Its analysis covered 1,856 penalty decisions and 4,822 company-level sanctions. The group said the findings raise questions about whether existing administrative penalties are sufficient to deter unlawful conduct, noting that fines are paid to the state rather than directly compensating affected consumers. It called for a consumer class-action system allowing people harmed by the same conduct to seek redress collectively, expanded punitive damages for intentional or serious violations, tougher penalties for large-scale, long-running or repeated violations and greater transparency in fine calculations.Statement is attached (in Korean)....
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