ID :
73028
Fri, 07/31/2009 - 09:52
Auther :
Shortlink :
https://www.oananews.org//node/73028
The shortlink copeid
Trade watchdog to ease regulations, support corporate restructuring: new head
SEOUL, July 30 (Yonhap) -- The head of South Korea's antitrust watchdog said
Thursday that he will step up efforts to ease government red tap in order to
create a competition-driven market environment.
Chung Ho-yul, new head of the Fair Trade Commission, also pledged to provide
support aimed at accelerating corporate restructuring as part of efforts to
overcome the ongoing economic crisis.
"As the antitrust watchdog, the FTC will have to carry out its law enforcement
duties against unfair business practices including abuse of market-dominating
status and cartel activities," Chung said in his inauguration speech.
"In addition, it will ease competition-restricting government regulations to
create a competition-driven market environment," he added.
The new FTC head noted that he will provide support toward accelerating corporate
restructuring by shortening deliberation procedures for business-merger requests.
The 54-year-old law professor was tapped by President Lee Myung-bak to head the
antitrust watchdog on Tuesday, replacing Baek Yong-ho, who took over as chief of
the National Tax Service earlier this month.
His remarks are broadly in line with President Lee's policy direction aimed at
creating a business-friendly environment by easing heavy government red tape. The
CEO-turned-president earlier urged his economic team to accelerate
corporate-sector reform.
kokobj@yna.co.kr
(END)
Thursday that he will step up efforts to ease government red tap in order to
create a competition-driven market environment.
Chung Ho-yul, new head of the Fair Trade Commission, also pledged to provide
support aimed at accelerating corporate restructuring as part of efforts to
overcome the ongoing economic crisis.
"As the antitrust watchdog, the FTC will have to carry out its law enforcement
duties against unfair business practices including abuse of market-dominating
status and cartel activities," Chung said in his inauguration speech.
"In addition, it will ease competition-restricting government regulations to
create a competition-driven market environment," he added.
The new FTC head noted that he will provide support toward accelerating corporate
restructuring by shortening deliberation procedures for business-merger requests.
The 54-year-old law professor was tapped by President Lee Myung-bak to head the
antitrust watchdog on Tuesday, replacing Baek Yong-ho, who took over as chief of
the National Tax Service earlier this month.
His remarks are broadly in line with President Lee's policy direction aimed at
creating a business-friendly environment by easing heavy government red tape. The
CEO-turned-president earlier urged his economic team to accelerate
corporate-sector reform.
kokobj@yna.co.kr
(END)