Fair Trade

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Fair Trade
Purpose of Fair Trade

The purpose of fair trade is to promote sound development of the economy by enhancing economic efficiency by promoting fair and free competition while suppressing the concentration of economic power.

What is the Fair Trade Act?

The Fair Trade Act is a law enacted to promote fair and free competition between companies and to protect consumers. This is the basic norm that acts as the basis of the market economy system and the rule of game for economic activities that promote free and fair competition among business operators. Although the Fair Trade Act is used as a shorthand for the Monopoly Regulation and Fair Trade Act (Monopoly Regulation Act), it is in fact used as a generic term for fair trade-related laws, such as the Subcontract Act (Fair Subcontract Trade Act), the Terms and Conditions Act (Act on the Regulation of Terms and Conditions), and the Labeling and Advertising Act (Act on Fair Labeling and Advertisement).