The Korea Fair Trade Commission (KFTC), led by Chairman Joo Byung-gi, attended the 20th East Asia Top Official’s Meeting on Competition Policy (EATOP) and the 17th East Asia Conference on Competition Law and Policy (EAC) in Tokyo from February 5 to 6, 2024. EATOP is an annual closed-door meeting of senior officials from 18 East Asian countries, including Korea, ASEAN nations, Japan, China, Hong Kong, Taiwan, Australia, New Zealand, and Mongolia, aimed at enhancing regional competition law enforcement and cooperation. EAC is a public conference linked to EATOP, involving not only competition authorities but also academics and legal professionals. The events provided a platform to share recent trends in competition policy and law enforcement and to strengthen regional collaboration.
Key participants included heads of competition authorities from Australia, Japan, New Zealand, and the Philippines, among others. Discussions covered advancements in digital competition policy, initiatives for carbon neutrality, the use of economic analysis in East Asian competition policy, and the future direction of EATOP. KFTC introduced its December 2024 guidelines for fair trade compliance in environmentally sustainable business activities, emphasizing the importance of international consistency and effectiveness in sustainability-related competition policy. The meetings also included bilateral talks, such as the 28th Korea-Japan Competition Policy Council, to share enforcement experiences and deepen cooperation.
The timeline of these events reflects ongoing annual collaboration since 2005 for EATOP and since 1990 for the Korea-Japan council. This year’s meetings marked EATOP’s 20th anniversary and included new initiatives, such as establishing a liaison group for effective technical support and information exchange among developing countries. KFTC played a leading role in discussions on sustainability and technical assistance, enhancing its international standing. The meetings also facilitated the exchange of recent policy developments, such as Japan’s smartphone law enforcement and Korea’s efforts to address imbalances between large and small enterprises.
Frequently asked questions include: What are the main topics discussed at EATOP and EAC? The meetings focused on digital competition, sustainability, economic analysis, and future cooperation. How does Korea’s Fair Trade Commission contribute to regional policy? KFTC introduced new sustainability guidelines and actively supports technical assistance for developing countries. What is the impact of these meetings? They strengthen regional cooperation, improve policy consistency, and enhance Korea’s international profile in competition policy.
Metaqsol opinion: Korea’s Fair Trade Commission’s active engagement in the EATOP and EAC meetings highlights its leadership in shaping digital and sustainability competition policies in East Asia. The introduction of new guidelines and support for technical assistance reflect a strategic approach to regional cooperation. The establishment of a liaison group and bilateral exchanges with Japan and other authorities are expected to enhance policy effectiveness and consistency. These initiatives position Korea as a prominent actor in international competition policy and contribute to addressing current and future challenges in the region.