Credit Cards and Distribution Businesses to Be Kept on Watch

The Korea Fair Trade Commission (KFTC) will focus on the market of credit cards, real estate agency and professional sports. Unfair trades of products and services aiming at old people, women and children will be under intensive control.

KFTC prepared the `2002 Business Plan` outlined as above, and announced it on the 29th.

Hence, the KFTC will devise measures to promote competitions according to the specific characteristics of the markets in the fields of △ finances like credit cards and property insurance, △ distribution like Internet shopping and home shopping, △ education like private educational institution and study aids △ human services like leisure tour, entertainment and pro sports, and △ energy like LPG and LNG.

Along with this, KFTC divided whole consumers into 6 groups of old people, women, juveniles, children, farmers and fishermen, and students, and targeted fields in which damages and complaints are incessant for intensive investigation.

The objects of investigation are △ unfair contract and deceitful trade of charged welfare facilities for old people and health foods (old people), △ unfair contract of wired or wireless Internet games, and use of other person`s Internet ip (juveniles), △ exaggerated advertisement and price of diapers and infant clothing (children), △ distribution systems of agricultural and fishery products (farmers and fishermen), and △ cyber education and foreign language training (students).

KFTC decided to take measures in May and June to the result of investigation on those markets in February to April, and improve related systems in the second half of this year.

sanjuck@donga.com