Government and Ruling Party to Introduce 'Registration Cancellation and Business Suspension System' for Repeat Collusion Operators
5 Articles
5 Articles
The ruling party and the government have decided to push for a legal amendment to revoke the registration or suspend the operations of businesses that repeatedly engage in collusion. Min Byeong-deok, Senior Vice Chairman for Economic Affairs of the Democratic Party of Korea's Policy Committee, told reporters after concluding the "Party-Government Consultative Meeting on Legislation to Eradicate Repeated Collusion" held at the National Assembly o…
(Seoul = Yonhap News) Reporters Park Jae-ha and Ahn Jeong-hun = On the 28th, the Democratic Party of Korea and the government [ordered] the cancellation of registration or suspension of business operations for operators who repeatedly engaged in collusion...
The Fair Trade Commission and the Democratic Party are pushing for the cancellation of business registrations and suspension of operations in 17 sectors, including environment and transportation, if collusion occurs two or more times within five years. They are also moving to amend the law to prevent distortion of market order, including linking education offices to the bid rigging analysis system, extending the statute of limitations for collus…
Sanctions will be strengthened to allow for the cancellation of registration or suspension of business operations for operators who have committed collusion two or more times within five years in 17 sectors closely related to people's livelihoods, such as medical, energy, and transportation.
The Democratic Party of Korea and the government have decided to pursue business suspensions or registration cancellations for companies that have colluded two or more times within five years. This move aims to raise the level of sanctions, such as restricting the operations of habitual colluders, in response to the recurring collusion in sectors affecting people's livelihoods, such as sugar and flour. On the 28th, the Democratic Party and the F…
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