Fair Trade Commission(FTC) chairperson nominee, Han Ki-jeong, has vowed to set up new systems and scrap unnecessary regulations through active reform to ensure the efficiency and fairness of a market economy. 

Han, a professor at Seoul National University law school, made the remark on Friday, a day after being tapped to head the state antitrust regulator.

On criticism that he lacks expertise on fair trade policies, Han said he believes he can contribute to revitalizing the market economy as he is a legal scholar on corporate activities and consumer protection. 

Han said once he takes office he’ll work to establish a free and fair market economy as he stressed the need to revive such a market to meet the new government’s goal of realizing dynamic and innovative growth. 

The nominee said he’ll focus his efforts on supporting creative corporate activities through fair competition and promote consumers’ welfare while vowing to tackle cheating and corruption with stern and decisive measures.