[National Assembly Seminar] 30 Years of the Fair Trade Act’s Business Group Designation System: Is It Still Appropriate?

The business group designation system under the Fair Trade Act, introduced in 1986, is hindering corporate growth without reflecting the changes of the times. Over more than 30 years, the Korean economy and the corporate landscape have undergone significant transformation, yet these anachronistic regulations have remained unchanged. As foreign capital flows in and new industries emerge, expanding the diversity of business sectors, the time has come to reexamine excessive regulation in line with the evolving economic environment.

The office of lawmaker Yoon Changhyun and the Center for Free Enterprise (CFE) are holding a seminar to explore the right direction for resolving excessive regulation on large corporations. Considering the broad ripple effects of the business group designation system, we ask for your interest in this discussion on reforming the system to better reflect reality and enhance corporate competitiveness.

◇ Date and Time: Tuesday, August 9, 2022, 10:00 a.m.

◇ Venue: National Assembly Members’ Office Building, Seminar Room 2

◇ Moderator: Seungjae Choi, Professor, School of Law, Sejong University

◇ Host: member of the National Assembly Yoon Changhyun

◇ Organizer: Center for Free Enterprise (CFE)

[Session 1] Problems with the Large Business Group Designation System under the Fair Trade Act

- Presenter: Jihong Kim, Attorney, Jipyong LLC

- Discussants: Hoesang Jeong, Professor, Department of Economics, Kangwon National University; Hyeyoung Min, Director of the Business Group Policy Division, Business Group Bureau, Korea Fair Trade Commission

[Session 2] Current Status and Problems of the Identical Person System under the Fair Trade Act

- Presenter: Inyup Ji, Professor, Department of Economics, Dongguk University (Attorney, Australia)

- Discussants: Jinyeol Joo, Professor, Law School, Pusan National University; Gihwan Lee, Professor, Department of Economics, Incheon National University

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Original title: [국회 세미나] 공정거래법상 기업집단 지정제도 30년, 이대로 괜찮은가?

Author: Center for Free Enterprise (CFE)

Date: 2022-07-28

Source: https://www.cfe.org/bbs/bbsDetail.php?cid=notice&pn=13&idx=24871