Gov't to continue easing corporate regulations: FTC chief

SEOUL, March 6 (Yonhap) -- The head of South Korea's anti-trust watchdog said
Friday that the government will continue efforts to ease corporate regulations to
encourage entrepreneurship amid a deepening economic slump.
"We shouldn't hold back on efforts to ease corporate regulations," Baek Yong-ho,
the head of the Fair Trade Commission (FTC), told his staff in a prepared speech
marking the first anniversary of his inauguration.
"Reducing unnecessary regulations will encourage entrepreneurship and bolster
changes and innovations in the market, becoming the basis on which we can leap to
a higher level after overcoming the current economic challenges," he added.
He also warned against the government stepping "directly" into the market, saying
such moves should only be made to keep market-based principles intact,
reiterating the government's position on its push to create a business-friendly
environment.
Baek, however, emphasized that he would get tough on activities that threaten
fair competition, warning that he would keep tabs on "rule breakers."
"When economic conditions worsen, chances are high that activities threatening
competition will emerge," he said. "Stricter law enforcement should be enacted
against cartels, the abuse of market-dominating players and other unfair business
practices."
kokobj@yna.co.kr
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