KFTC Establishes Guidelines on Anticompetitive Conducts in the Platform Sector

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As we move into the digital economy, online platforms are playing an increasingly important, which was evidenced by the surge in Korea’s online shopping transactions from KRW 25.2 trillion in 2010 to KRW 161.1 trillion in 2020. At the same time there is growing concern regarding anticompetitive conduct of platforms that established a solid foothold in the sector, as they may deter new entrants from entering the market or expand their dominance into a relevant market. In fact, their abuse of dominance and unfair trade practices are continuing, and the Korea Fair Trade Commission (KFTC)’s enforcements against such conduct are on the rise. The KFCT immediately needs to put forward a better guideline to prevent illegal trade practices as well as thoroughly investigating and remedying them.