South Korea's antitrust regulator on Monday launched an investigation into the e-commerce sector to analyze market structure and check competition issues as part of efforts to ensure fair business practices as more consumers shop online. announced that it would start.
The Fair Trade Commission (FTC) will begin a four-week preliminary market study starting Tuesday to gather input from stakeholders, related organizations and consumers and review similar studies conducted by the European Union, United Kingdom and Australia. announced that it would start. Yonhap News reported.
Going forward, the regulatory authorities will determine the details of the investigation targets and methods, conduct investigations into major domestic and international e-commerce businesses, and plan to publish a report by the end of the year.
The JFTC stated, “The e-commerce market is closely related to people's daily lives, and market and business conditions are changing rapidly, so a thorough analysis is necessary.'' “Increased reliance on a small number of operators has raised concerns about the fairness of commercial practices and the potential for consumer harm.
“Such in-depth market research helps us devise pre-emptive responses to competition and innovation issues,” he added.
According to the report, the value of online shopping transactions has recently increased from 190.2 trillion won (US$141.61 billion) in 2021 to 209.9 trillion won in 2022, and more than 227.3 trillion won last year. increased.
Published on: Monday, March 25, 2024, 2:05 PM IST
