Korea Fair Trade Commission (KFTC)

The Korea Fair Trade Commission, or KFTC, is South Korea's central competition and consumer protection authority. It operates as a ministerial-level administrative organization under the Prime Minister and also performs quasi-judicial functions. Its responsibilities include competition policy, merger review, cartel enforcement, unfair trade practices, consumer protection, and oversight of large business groups. The KFTC reviews corporate combinations that could affect competition, including restructuring and mergers in South Korea's petrochemical industry.