The head of South Korea's minor opposition party has urged the antitrust watchdog to go easy on the nation’s conglomerates, calling its reform drive on big firms anti-business.
Bareunmirae Party Chairman Sohn Hak-kyu revealed his views about the Fair Trade Commission(FTC) when he met with FTC Chairman Kim Sang-jo on Monday. Kim visited the party’s headquarters to call for cooperation on the passage of a revision to the fair trade law.
Sohn said it's good for the government to restrict some companies’ tyranny and unfair business practices, but warned it can produce adverse effects of limiting corporate freedom.
He said excessive criticism against conglomerates will negatively affect their corporate activities and ultimately the South Korean economy which is heavily dependent on their exports.
He criticized the FTC’s efforts to correct unfair trade practices, accusing it of turning into a heavy-handed government power.