[2026 Parliamentary Audit] Joo Byungkee: "No Cuts to Cartel Fines... Coupang Must Protect Smaller Partners as It Grows"

Counters Park Dae-chul's criticism: "Fines must not be wielded like a butcher's knife"
Stresses that companies must fulfill social responsibilities commensurate with their size

Fair Trade Commission Chairman Joo Byung-kee said on the 12th, in response to criticism that fines are excessive, "The reason collusion is not declining is that fines are not high enough compared with the illicit gains companies have made." He also made clear that he would not turn a blind eye to large platforms undermining market rules, saying of Coupang, which has grown in size, "It must fulfill its social responsibilities and become a company that protects the rights of weaker parties."

Fair Trade Commission Chairman Joo Byung-ki receives a briefing from an official before the start of the parliamentary audit of the Fair Trade Commission and other agencies at the National Assembly on the 12th. 2026.10.12 Photo by Yoon Dong-ju

At a parliamentary audit of the Fair Trade Commission held by the National Assembly's Political Affairs Committee on the 12th, Park Dae-chul of the People Power Party said, "Global cartel fines totaled $3.3 billion last year, while Korea's figure has reached $1.3 billion through September this year, about 40% of the global total," adding, "The sword of fines is being wielded to the point that companies' survival is at risk. It must not be used like a butcher's knife." Chairman Joo responded, "I don't think the fines are excessive," and countered, "We are imposing fines at levels that sufficiently exceed the illicit gains." In response to the criticism about a "butcher's knife," he said, "We are using a sword that helps companies survive."

When People Power Party lawmaker Seo Il-jun pointed to the difficulties fines pose for corporate management, Chairman Joo said, "What I am truly concerned about is letting companies that deserve punishment off the hook," emphasizing, "Unfair conduct will not be repeated unless companies are sanctioned sufficiently to match the unfair gains they have obtained." When People Power Party lawmaker Park Seong-hun questioned the gap between the fines in investigators' examination reports and those in final review decisions, asking, "Isn't this intended to generate business for law firms representing the left-wing camp?" Chairman Joo countered, "It is only natural for the fine calculated by the examiner to differ from the final fine." He explained, "The examination report reflects only the investigator's opinion, while the final decision is made after the opinions of the accused party are fairly gathered during the review process." He added, "I am not politically biased. I will give the market's concerns the utmost consideration."

Sharp criticism also continued of Coupang, whose conflicts with small business owners and merchants are intensifying. When Kang Jun-hyun of the Democratic Party of Korea raised concerns about a surge in applications for dispute mediation by small business owners related to Coupang, Chairman Joo said, "This runs counter to the norms of a market economy, under which companies are expected to respect their social responsibilities as they grow in size." He continued, "It is true that Coupang's sales have grown rapidly recently, and it is also true that it has provided consumers with a corresponding level of satisfaction," but added, "The pursuit of unfair gains in that process must be minimized."

Meanwhile, responding to People Power Party lawmaker Park Jun-tae's criticism that a post he had uploaded on social media during the local elections insulted voters, he struck a conciliatory tone, saying, "I can see how it might be understood that way."

This content was produced with the assistance of AI translation services.