Members of the People Power Party's Legislative Committee called for the resignation of Joo Byeong-gi, the chair of the Fair Trade Commission, on October 13. They criticized Joo's distorted and biased views on large corporations and the market economy, stating that it undermines his ability to perform his duties effectively.
Seol Il-jun, the opposition party's secretary on the committee, held a press conference at the National Assembly, expressing doubts about the Fair Trade Commission's ability to conduct fair investigations and reviews of companies without political bias. He stated, "It raises questions about whether the Fair Trade Commission can investigate and review companies fairly without political bias."
The issue raised by the People Power Party centers on Joo's assertion that the hereditary economy of conglomerates and large business groups has created an exploitative South Korea. Joo, who made similar comments during his academic career, reaffirmed this stance during a national audit of the Fair Trade Commission the previous day, saying, "I still believe that."
Seol added, "Emphasizing the public role of companies should not excessively restrict the autonomy and property rights of private enterprises," and expressed concern that Joo's biased views could significantly hinder the Fair Trade Commission's fair enforcement of laws.
Concerns were also raised that the Fair Trade Commission could pressure companies through its newly established key investigation planning team. Shin Dong-wook, another lawmaker, stated, "The Fair Trade Commission should monitor how well the market economy functions and enhance public benefits," and criticized, "As long as Joo is in office, the disruption of South Korea's market order will not be due to unfair trade or collusion, but rather the Fair Trade Commission itself."
Criticism of Joo's capabilities also emerged. Song Eon-seok pointed out, "The Fair Trade Commission's consent decree system allows it to arbitrarily select investigation targets and determine outcomes," adding that while Joo claimed to operate according to internal rules, the commission itself stated there are no detailed criteria. He emphasized, "He lied to the public without knowing the details."
Meanwhile, the Legislative Committee's national audit of the Fair Trade Commission was disrupted the previous day due to conflicts between Joo and opposition lawmakers. When members of the People Power Party strongly protested Joo's response attitude, the committee chair, Yoo Dong-soo, declared a suspension of the audit around 10 p.m., concluding that it was difficult to proceed. The audit was not resumed until midnight, resulting in its automatic termination.
Seol Il-jun, the opposition party's secretary on the committee, held a press conference at the National Assembly, expressing doubts about the Fair Trade Commission's ability to conduct fair investigations and reviews of companies without political bias. He stated, "It raises questions about whether the Fair Trade Commission can investigate and review companies fairly without political bias."
The issue raised by the People Power Party centers on Joo's assertion that the hereditary economy of conglomerates and large business groups has created an exploitative South Korea. Joo, who made similar comments during his academic career, reaffirmed this stance during a national audit of the Fair Trade Commission the previous day, saying, "I still believe that."
Seol added, "Emphasizing the public role of companies should not excessively restrict the autonomy and property rights of private enterprises," and expressed concern that Joo's biased views could significantly hinder the Fair Trade Commission's fair enforcement of laws.
Concerns were also raised that the Fair Trade Commission could pressure companies through its newly established key investigation planning team. Shin Dong-wook, another lawmaker, stated, "The Fair Trade Commission should monitor how well the market economy functions and enhance public benefits," and criticized, "As long as Joo is in office, the disruption of South Korea's market order will not be due to unfair trade or collusion, but rather the Fair Trade Commission itself."
Criticism of Joo's capabilities also emerged. Song Eon-seok pointed out, "The Fair Trade Commission's consent decree system allows it to arbitrarily select investigation targets and determine outcomes," adding that while Joo claimed to operate according to internal rules, the commission itself stated there are no detailed criteria. He emphasized, "He lied to the public without knowing the details."
Meanwhile, the Legislative Committee's national audit of the Fair Trade Commission was disrupted the previous day due to conflicts between Joo and opposition lawmakers. When members of the People Power Party strongly protested Joo's response attitude, the committee chair, Yoo Dong-soo, declared a suspension of the audit around 10 p.m., concluding that it was difficult to proceed. The audit was not resumed until midnight, resulting in its automatic termination.
* This article has been translated by AI.
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