Fair Trade Commission (South Korea)
| 공정거래위원회 | |
FTC headquarters in Sejong | |
| Agency overview | |
|---|---|
| Formed | December 23, 1994 |
| Jurisdiction | Government of South Korea |
| Headquarters | Sejong, South Korea |
| Employees | 650 |
| Annual budget | 159.6 billion won (2023) |
| Agency executives |
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| Website | ftc.go.kr |
| Korean name | |
| Hangul | 공정거래위원회 |
| Hanja | 公正去來委員會 |
| RR | Gongjeong georae wiwonhoe |
| MR | Kongjŏng kŏrae wiwŏnhoe |
The Korea Fair Trade Commission (KFTC) is South Korea's regulatory authority for economic competition. It was established in 1981 within the Economic Planning Board. The establishing law was the Monopoly Regulation and Fair Trade Act (MRFTA), Law No. 3320, December 31, 1980. In 1994, the Fair Trade Commission and its secretariat were separated from the Economic Planning Board as an independent vice ministerial-level, central administrative organization. In 1996, the status of the KFTC Chairman was elevated from vice-ministerial to ministerial level.