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S. Korea to crack down companies' abuse of monopoly power

All News 13:59 October 07, 2019

SEJONG, Oct. 7 (Yonhap) -- South Korea's antitrust regulator said Monday it will crack down on tech companies over their possible abuse of monopoly and oligopoly power in a mobile platform.

In a report to the National Assembly, the Fair Trade Commission said it will look into practices that can exclude competitors in mobile operating systems and app markets.

The watchdog also said it will crack down on abuse by holders of pharmaceutical patents to try to obstruct the release and sale of generic drugs.

The antitrust regulator did not give any further details on either case.

The commission said it will closely monitor big companies' practice of taking advantage of technologies of their subcontractors and strengthen punishment of violators.

Under the law, no prime contractor can request a subcontractor to provide the subcontractor's technical data unless the prime contractor proves a justifiable cause to do so.

Still, some big companies are found to have taken advantage of their subcontractors' technologies.

South Korea has been pushing to stem unfair business practices and level the playing field for smaller firms in a country that has been dominated by family-controlled conglomerates, or chaebol, for decades.

The commission said it will focus its efforts on addressing the difficulties facing subcontractors.


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