[2026 National Assembly Audit] Fair Trade Commission Chairman Ju Byeonggi Bows Amid "Anti-Chaebol" Label: "I Don't Deny Large Companies' Role"

Seo Iljun: "Negative views of specific companies undermine impartiality"
Ju Byeonggi: "I wasn't denying companies' role... I meant to address their adverse effects"

Calls for the resignation of Fair Trade Commission Chairman Ju Byeong-gi emerged during the National Assembly Political Affairs Committee’s audit of the commission over his past remarks described as “anti-chaebol.” Ju bowed his head and sought to quell the controversy.

Joo Byungki, chair of the Korea Fair Trade Commission, answers lawmakers' questions during a comprehensive parliamentary audit of the Office for Government Policy Coordination and other agencies at the National Assembly on Oct. 21, 2026. Photo by Yun Dongju.

During the committee’s comprehensive audit on Oct. 21, People Power Party lawmaker Seo Il-jun said, “When he was a professor, Chairman Ju argued that ‘the driving force behind creating an exploitative South Korea is the hereditary economic system of chaebol and large business groups,’ and at the previous audit he said that his view had not changed.” Seo strongly questioned Ju’s qualifications to lead the commission, asking, “Can a chairman who holds such a negative view of specific companies really enforce the law fairly, without political bias?” He also pointed out that Ju had offered no responsible explanation despite People Power Party members of the committee holding a press conference to call for his resignation. Seo reiterated his demand that Ju resign immediately and stop further undermining the trust of businesses and the public.

Faced with a fierce offensive from the opposition, Chairman Ju backed down and sought to contain the fallout. Apologizing for the disruption caused by his manner of responding during the policy audit on Oct. 12, Ju said, “I sincerely regret that the meeting was unable to proceed smoothly.” He added that he took the repeated criticism seriously, then explained that his controversial past remarks “were not intended to deny the role of large companies in South Korea’s economic growth and development.” He said, “My point was that, for large companies to build global competitiveness and sustain their growth, the adverse effects of opaque governance structures and the concentration of economic power within large business groups need to be addressed.”

Ju also asked members of the committee for their understanding regarding his description of companies owned by many individuals as “public enterprises,” saying that he had intended to emphasize the rights of a broad base of shareholders and companies’ social responsibilities. He said he would “always keep in mind the Fair Trade Commission’s fundamental role of supporting businesses so they can operate freely while complying with fair market rules,” and focused on dispelling concerns about his impartiality.

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