South Korea’s Fair Trade Commission (FTC) held its annual awards ceremony for the Compliance Program (CP) excellence (12 December), recognizing outstanding corporate efforts in fair trade practices.
The event, co-hosted by the Korea Fair Trade Mediation Agency, took place at the International Conference Hall of the Korea Chamber of Commerce and Industry, with approximately 270 attendees, including CP experts and corporate representatives.
This year, the FTC awarded certificates to companies that demonstrated exemplary compliance with fair trade laws. Notable honorees included Kia, POSCO Holdings, and DL E&C, among others. The event also featured a forum where award-winning companies shared best practices, such as implementing robust internal compliance systems and fostering ethical corporate cultures.
The FTC Chairman, Han Ki-jung, highlighted the growing impact of CP legislation enacted in June 2024, which doubled the number of applicants for compliance assessments compared to the previous year. Han noted that 66% of applicants received AA ratings or higher, underscoring the widespread adoption of compliance as a market standard.
The ceremony also outlined plans for the 2025 CP evaluation framework and included case presentations from firms like Samsung Eco, aimed at encouraging middle-market and small businesses to integrate compliance into their operations.
The FTC reaffirmed its commitment to supporting CP adoption across industries, emphasizing incentives and targeted initiatives for smaller enterprises to ensure broad-based adherence to fair trade principles.
Source: https://www.ftc.go.kr/www/selectReportUserView.do?key=10&rpttype=1
