By Kang Yoon-seung
SEJONG, Sept. 14 (Yonhap) — South Korea’s antitrust regulator will increase its efforts to combat long-standing problems that affect people in many areas, from construction to education, its chairperson said Thursday.
“We are conducting a rigorous investigation to uncover bid-rigging in the selection process of supervisory firms responsible for checking for potential defects, such as the lack of reinforcing rods in the construction of apartment buildings,” said Han Ki-jeong, the chairperson of the Fair Trade Commission (FTC).
The remarks came after the land ministry recently discovered that 15 apartment complexes constructed by the state-run Korea Land & Housing Corp. did not use sufficient reinforcing rods in their underground parking lots.
Fair Trade Commission Chairperson Han Ki-jeong speaks during a press conference held in the central city of Sejong on Sept. 14, 2023, in this photo released by his office. (PHOTO NOT FOR SALE) (Yonhap)
The revelation was made after two upper structures of an underground parking lot under construction in Geomdan in the western city of Incheon collapsed in April due to such flaws.
“We plan to finish the investigation (on the apartment buildings) by the end of this year and carry out follow-up inspections,” he added.
Han added that the FTC is also currently scrutinizing cram schools for their deceptive advertising related to their results, such as the number of students accepted to universities.
“We have created a task force team to carry out the probe on deceptive advertisements as requested by the education ministry. It will be completed by September,” the chairperson said.
The FTC is closely monitoring possible violations by online commerce, mobility and accommodation companies as well, which will be finished by the end of this year.
These violations include posting false reviews to put their private brands at the top of search results and releasing misleading advertisements about the advantages of memberships.
Han added that the FTC plans to expand surveillance on internal trading of medium-sized firms with a strong presence in the pharmaceutical, clothing and food industries amid concerns the current system lacks monitoring of such activities.
“The FTC will closely monitor internal trading of medium-sized business groups, and promptly investigate and take corrective measures in cases of law violations,” Han said.
colin@yna.co.kr
(END)