People Power Party Political Affairs Committee Calls for Joo Byung-ki's Resignation: "Distorted Views on Large Companies and the Market Economy"

FTC's methods for disclosing administrative fines and investigation results also criticized

People Power Party members of the National Assembly Political Affairs Committee called for Fair Trade Commission Chairman Joo Byung-ki to resign on the 13th, saying his views on large corporations and the market economy were biased.

Assemblyman Seo Iljun, the People Power Party's secretary on the committee, made the remarks at a press conference that day at the National Assembly Communication Center. "We have serious concerns about whether Chairman Joo can perform his duties in a balanced manner given his distorted views of large corporations and the market economy," he said.

Members of the People Power Party on the Political Affairs Committee are holding a press conference on the 13th calling for Fair Trade Commission Chairman Joo Byung-ki to resign. Photo provided by Yonhap News.

Assemblyman Seo pointed out that during the Fair Trade Commission's parliamentary audit the previous day, Chairman Joo said he "still thinks that way" when asked about the critical views of chaebol and large business groups he had expressed as a professor. "Expressing views as an academic and maintaining negative views of certain business groups as the head of an agency overseeing fair trade policy are entirely different matters," Seo said.

Seo also took issue with Joo's views on how penalty surcharges and investigation findings are disclosed. "Penalty surcharges are a means of correcting unfair practices, not a means of pressuring companies," he said. "Companies must not be effectively branded as lawbreakers by disclosing interim investigation findings before it has been determined whether the law was violated."

Regarding Chairman Joo's statement during the parliamentary audit that "in modern society, companies are public entities," Seo criticized him, saying, "Corporate social responsibility and government intervention in corporate management are clearly different matters," and "the autonomy and property rights of private companies must not be excessively restricted."

Assemblyman Shin Donguk also said, "The Fair Trade Commission chairman is a guardian of the market economy, and this kind of biased perspective is extremely dangerous." He added, "The Intensive Investigation Planning Unit, launched on the 1st, is intended to monitor markets related to fair trade without compartmentalization. I believe there is a high likelihood that it could turn into a means of pressuring companies if ordered to do so by the president."

Assemblyman Choi Eunseok said, "I have strong suspicions that the Fair Trade Commission chairman shares the Lee Jaemyung administration's view of a state-led economic system, and that Chairman Joo is providing the administration's views with a theoretical foundation." He stressed that Joo "must resign from his post as soon as possible."

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