Seoul, September 25, 2025 – Korea’s Fair Trade Commission (KFTC) has vowed to make the eradication of technology theft a top priority, with Chairman Joo Byung-ki pledging tougher enforcement and stronger protections for small and venture businesses.
Speaking at a roundtable with the Korea Venture Business Association, Joo emphasized that technology misappropriation is not only a matter of individual corporate harm but a structural market problem that undermines entrepreneurial spirit, stifles innovation, and damages the overall business ecosystem.
Joo outlined a multi-pronged strategy to curb technology theft. This includes tighter market monitoring and enforcement of competition law, support in evidence gathering, particularly for proving damages and losses, and enhanced remedies and assistance to help affected firms recover.
Joo stressed that preventing technology theft will remain one of his administration’s highest priorities, aligning with the government’s policy agenda of creating a fairer, more cooperative business environment.
Entrepreneurs and venture firms at the meeting shared first-hand accounts of technology theft and the challenges they face in responding to it. They called for harsher penalties against perpetrators and stronger compensation mechanisms for victims. The Korea Venture Business Association urged regulators to ensure that “the cost of being caught far outweighs any gains from committing violations,” through enhanced monitoring and stricter sanctions.
The meeting, part of a series of “relay field consultations” launched after Joo’s appointment, brought together 13 participants, including small business leaders, industry representatives, and KFTC officials.
