Page 26 - FAIR TRADE COMMISSION 2023 ANNUAL REPORT

Fair Trade Commission Annual Report 2023
Use of the multi-sided
business model
Using platforms as a medium to connect two different groups to create interactions
Data dependence
Collecting and applying user data as input
to improve current products or services
Volatility
Acquiring startups to release new products incessantly and extend to other markets
Market power
concentration
Network effects causing market power to concentrate
24
Four Major Perspectives of the White Paper
To perfect complementary regulations for competition law in the digital economy, the Commission promoted related policies and measures in accordance with the White Paper step by step. The achievements of the efforts made in 2023 are as follows:
(1) Laws and regulations:
A. On Feb. 21, the Commission announced the amended Fair Trade Commission Disposal Directions (Guidelines) on Online Advertisements. The key revisions included bringing influencers and advertisers on social media under regulation and adding a list of patterns and examples of illegal online advertising to remind concerned parties.
B. On Nov. 22, the Commission announced the amended Principles of the Fair Trade Commission Regarding the Definition of Relevant Markets, adding or revising definitions of indirect network effects and other terms, factors to be considered in the definitions of product and geographic markets in the digital economy, and the analytical method used in defining markets: the hypothetical monopolist test to make the standards for the definition of relevant markets more precise and resolve the problems associated with the “number of relevant markets to be defined” and the “scope of relevant markets being unclear” in the definition of conventional markets.
C. The revision of the Fair Trade Act was promoted and the enhancement of the investigation powers of the Commission was included in the Draft Partial Amendment to the Fair Trade Act.