A report has been filed against me with the Fair Trade Commission; what should I do?

In your case, it appears that a report was filed with the Fair Trade Commission on the ground of price fixing.

Agreeing on prices with a competitor amounts to price fixing, which constitutes a violation of the Monopoly Regulation and Fair Trade Act, so it may be subject to punishment.

If it is discovered that a price agreement was made in this regard, a guilty verdict may be returned, so it is advisable to consult an attorney with expertise and understand the circumstances.

The Fair Trade Commission defines this as an ‘unfair collaborative act’ and applies various related regulations, and in some cases it also imposes sanctions.

Simply put, it is when companies selling identical or similar products illegally equalize their prices to align them, in order to raise prices or escape excessive competition.

Representative unfair collaborative acts

Price fixing

Collusion on transaction terms

Quantity collusion

Market division collusion

Facility restriction collusion

Collusion restricting types and specifications

Your case falls under price fixing among these, and even before carrying it out, an unfair collaborative act can be established merely by agreeing with each other.

In addition, if an unfair collaborative act is established, you may be subject to administrative dispositions by the Fair Trade Commission, such as corrective measures and the imposition of a penalty surcharge, so it is advisable to respond through a consultation with an attorney with expertise.