Corporate watchdog to step up crackdown on cartel activities

SEOUL, Dec. 16 (Yonhap) -- South Korea's corporate watchdog said Wednesday that
it will step up its surveillance of cartel activities as part of efforts to clamp
down on business activities that hamper fair market competition.

In its 2010 plan submitted to President Lee Myung-bak, the Fair Trade Commission
also noted that it will push to streamline anti-competition regulations in the
service sector, a move aimed at lowering barriers to entry for those who open new
businesses.
The service sector includes health, medical, financial, distribution and
energy-related businesses that are deemed to be closely linked to the daily needs
of low- and middle-income people, the FTC said.
The watchdog added that it will also focus on helping small-sized companies left
vulnerable to competition dominated by large conglomerates. It also said it would
make efforts to protect consumers as well by providing more information on
products and companies.
kokobj@yna.co.kr
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