Bank Account Searches Granted to FTC
The government, on September 25, decided to endow the Fair Trade Commission(FTC) with the right to search bank accounts for the first time ever.The two sectors had a meeting for on this subject at the NCNP's Youido party building and agreed to amend the fair trade regulations at an assembly meeting.
Moreover cartels colluding with each other, limitations on protecting against unfair price hikes, accountant and patent attorney's salaries, and standard retail prices will be put in order again, they said.
Subcontract regulations will stipulate more cash payments rather than draft of checks for better money flow.
In addition to that, a real name system on publicity will be introduced to avoid exaggeration and better protect consumers.
with the Korea JoongAng Daily
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