I've been reported to the Fair Trade Commission. What should I do?

Based on the inquirer's case, it appears you have been reported to the Fair Trade Commission for price collusion.

The act of agreeing on prices with competitors is price collusion, constituting a violation of the Fair Trade Act, and may be subject to punishment.

If the fact of price agreement is detected in this regard, you may receive a guilty verdict, so it is good to consult with a specialist attorney to understand the circumstances.

The Fair Trade Commission defines this as "unfair concerted action" and applies various related regulations, sometimes imposing sanctions.

In simple terms, it refers to companies that sell identical or similar products illegally aligning prices to be similar in order to raise prices or escape excessive competition.

Representative unfair concerted actions

Price collusion

Trading condition collusion

Quantity collusion

Market division collusion

Equipment restriction collusion

Type, specification restriction collusion

In the inquirer's case, this falls under price collusion, and even just agreeing before executing this can constitute unfair concerted action.

Furthermore, if unfair concerted action is established, you may receive corrective measures from the Fair Trade Commission and administrative dispositions such as fines, so we recommend responding through consultation with a specialist attorney.