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MLex Market Insight

KFTC chief Han discusses South Korea’s bold experiment in platform self-regulation

MLex Market Insight

MLex Market Insight

News

4.99 Ratings

🗓️ 27 April 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

South Korea has been at the forefront of digital-platform regulation for many years now. But since 2022, the country has been trying something new: self-regulation. The concept has been put forward as an alternative to platform-specific legislation and it requires powerful platforms, to create their own rules and standards. Now, in an exclusive interview, Korea Fair Trade Commission Chairman Han Ki-jeong talks about the new direction and what it means for antitrust enforcement.

Transcript

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0:00.0

Hello, welcome back to Emlex's podcast covering the top stories in regulatory affairs with the assistance of our team of reporters around the globe.

0:19.1

My name is James Panicki, MlexMex Asia Senior Editor, and I'm coming

0:23.1

to you today from the LexisNexis offices in Melbourne, Australia. It's great to have your company.

0:29.1

Now, as our readers know only too well, South Korea has been at the forefront of digital

0:34.7

platform regulation for many years now, And the country's antitrust

0:38.6

watchdog, the Korea Fair Trade Commission, or KFTC, has been central to this equation,

0:44.6

with its often muscular enforcement of local competition laws. But for the past year,

0:50.2

South Korea has been trying something new and arguably less combative.

0:55.2

Self-regulation has been put forward as an alternative to platform-specific legislation.

1:00.6

That is, the requirement that the powerful platforms, both international and home-grown,

1:05.9

create their own rules and standards.

1:08.9

But is it working?

1:10.5

And does this mean that the KFTC has taken its foot

1:13.4

off the enforcement pedal? Well, Mlex's South Korea reporters spent some time with Hankegee John,

1:19.9

who has been the country's antitrust chief since last September, and they put some of those

1:24.9

questions to him. It was a wide-ranging conversation which also took

1:29.0

in the issue of unfair trade practices in the creative content industry and the KFTC's relationship

1:35.0

with the country's prosecutors. There's even something in it for fans of K-pop and it has all

1:41.2

come together very nicely indeed in a special report which is ready for you to download right now.

1:47.4

The two M-X reporters who wrote that special report are Wuyong Li and Jenny Lee,

1:52.4

who I am pleased to say are with us now from our offices in Seoul.

1:57.4

Jenny, starting with you, if I may, on the issue of digital platforms.

...

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