Page 27 - FAIR TRADE COMMISSION 2023 ANNUAL REPORT

Key Revisions
The Fair Trade Com- mission Disposal Di- rections (Guidelines) on Online Advertise- ments
 Bloggers, influencers and streams on social media were placed under the regula- tion of Article 21 of the Fair Trade Act. (Item 2, Point 3)
 Raffle Marketing during live streaming, product placement at halftime on social me- dia, influencers marketing products or services in their own names and other activity types were added as case examples. (Point 8)
The Principles of the Fair Trade Commis- sion Regarding the Definition of Relevant Markets
 Definitions of multi-sided market and indirect network effects were added. (Point 2)
 Factors to be taken into account in market definition, such as the management
model of platform operators, transactional relationships or indirect network effects between user groups, language used in the product area and the local culture, the price structure, effects on transaction behavior, and compatibility or complementar- ity resulting from product technologies, specifications or standards, were added or revised. (Points 4 and 5)
 The hypothetical monopolist test was modified to take into consideration the possi- bility that the prices of certain products could be zero in the digital economy. (Point 9)
(2) Enforcement principles:
A. Enforcement attitude: In cases involving enterprises imposing resale price maintenance (RPM), the market power of such enterprises was to be taken into account and the new regulation was adopted in several cases associated with medical equipment companies imposing restrictions on the blood glucose meter resale prices of distributors and retailers. Technology was applied in enforcement to investigate, analyze and correct anti-competitive behavior and review mergers between large distributors and also between telecom companies.
B. Cultivation of enforcement capabilities: The Commission organized special topic speeches on “Applications and Development Tendencies in the AI Industry” and “Tendencies in Generative AI Development” as well as a training course entitled “Competition Law Economic Analysis – Antitrust Module Package and Actual Operation in Separate Cases.” Through such training and cooperation with external technological specialists, the Commission upgraded the digital capabilities of staff members in law enforcement.
The Commission will continue to promote the amendment of the Fair Trade Act in accordance with the White Paper to perfect complementary regulations for competition law in the digital economy and improve the law enforcement skills of its staff members to build a new market order in the digital economy.
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Important Achievements in 2023