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S. Korea to host global competition forum

All Headlines 14:46 September 12, 2018

SEOUL, Sept. 12 (Yonhap) -- South Korea will host an international competition forum in Seoul this week to discuss legal issues related to the era of the fourth industrial revolution, the nation's antitrust watchdog said Wednesday.

The biennial Seoul International Competition Forum will be held at Hotel Shilla on Thursday, bringing together about 300 high-level competition officials and renowned experts from 25 countries across the globe.

The Fair Trade Commission (FTC) said the forum will focus on the role of big data in a digital economy and its restraint competition; the need for and efficiency of civil methods concerning the implementation of fair trade laws; and algorithms and enactment of competition laws.

In an opening speech released a day earlier, FTC Chairman Kim Sang-jo stressed the importance of creating a level playing field in the era of the new industrial revolution.

Fair Trade Commission Chairman Kim Sang-jo (Yonhap)

"In order to develop future growth industries for mankind, it is essential for antitrust authorities to establish a climate for fair competition in innovation since the winner-take-all rule may prevail in the age of the fourth industrial revolution," he said.

South Korea has hosted the Seoul International Competition Forum, the largest of its kind in Asia, since the inaugural event in 2001.

On the eve of the forum, meanwhile, South Korea held the 10th competition policy consultative meeting with Japan in Seoul to share their policy trends, with their delegations led by Kim and his Japanese counterpart, Kazuyuki Sugimoto.

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