Promoting the introduction of business suspension and license revocation for repeated collusion industries
Strengthening penalties for repeated collusion, promoting a legal revision to impose business suspension and license revocation in 17 industries Reducing bid collusion and raising the level of sanctions through monitoring in coordination with the FTC
The government and the Democratic Party of Korea will push for legal revisions to allow business suspension or license revocation for operators that have colluded two or more times within five years in 17 industries, including firefighting equipment businesses and petroleum sales businesses.
On the 28th, the ruling party and the government held a consultative meeting at the National Assembly and announced measures to eradicate repeated collusion. When the Fair Trade Commission identifies operators involved in repeated collusion and requests disciplinary action from the relevant ministries, sanctions will be imposed under the individual laws governing each industry.
The revision bill includes newly introducing license revocation and business suspension for industries such as firefighting equipment, electrical contracting, power design and supervision, and surveying. It also plans to add business suspension provisions to industries such as pharmaceutical manufacturing and import, petroleum refining and sales, waste treatment, and passenger and freight transport, while extending the statute of limitations for collusionrelated disciplinary actions. In addition, to strengthen monitoring of bid collusion in tenders issued by education offices, the plan also includes linking education office bidding information to the Fair Trade Commission's system.