Thirty Years of the Designation System for Business Groups Under the Fair Trade Act: Is It Fine as It Is?

The designation system for business groups under the Fair Trade Act, introduced in 1986, is hindering corporate growth because it has failed to reflect the changes of the times. Although more than 30 years have passed and Korea’s economy and business landscape have undergone significant change, these anachronistic regulations remain frozen in place. As the economic environment becomes more diverse with the influx of foreign capital and the emergence of new industries, the time has come to reexamine excessive regulation.

The office of Yoon Changhyeon and the Center for Free Enterprise (CFE) held a seminar to explore the right direction for easing excessive regulation on large corporations. Considering the wide-ranging impact of the business group designation system, we ask for your strong interest in discussions 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 Changhyeon

◇ Organizer: Center for Free Enterprise (CFE)

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

- Presentation: Jihong Kim, Attorney, Jipyong LLC

- Discussion: 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 Same-Person System under the Fair Trade Act

- Presentation: Inyeop Ji, Professor, Department of Economics, Dongguk University (Attorney (Australia))

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

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Original title: 공정거래법상 기업집단 지정제도 30년, 이대로 괜찮은가?

Author: Center for Free Enterprise (CFE)

Date: 2022-08-09

Source: https://www.cfe.org/bbs/bbsDetail.php?cid=seminar&pn=4&idx=24889