WASHINGTON - South Korea is set to partake in the Enforcers Summit, an annual congregation of global antitrust officials, scheduled for this week in the United States. The summit will center on discussions about enforcement priorities and the crafting of strategies for enhanced coordination in competition policy worldwide, as announced by Seoul's Fair Trade Commission (FTC) on Monday.
According to Yonhap News Agency, the third iteration of the Enforcers Summit, co-hosted by the U.S. Federal Trade Commission and the Justice Department's Antitrust Division, is to convene on Monday in Washington. The event is expected to draw participation from representatives of key nations such as Japan, Canada, India, and Brazil. These officials will deliberate on various aspects pivotal to fostering fair competition and effective enforcement of competition laws across borders.
FTC Vice Chairperson Cho Hong-sun will represent South Korea at the summit, engaging in dialogues aimed at promoting fair market practices, enhancing consumer protection, and discussing enforcement strategies concerning data privacy. A particular emphasis of this year's summit will be addressing competition issues related to food supply chains, which are especially pertinent in the context of ongoing global inflationary pressures.
Additionally, the summit attendees will explore methodologies for countering bid rigging and advancing competition within the burgeoning artificial intelligence industry. In parallel with the main event, Vice Chairperson Cho is scheduled to conduct bilateral discussions with counterparts and officials from the U.S., the European Commission, and other allied entities. These talks are intended to foster international cooperation and share insights on tackling antitrust challenges.