The Struggle between FKI-FTC Going Strong

The tension between the Fair Trade Commission (FTC)and the Federation of Korean Industries (FKI) is getting serious.
Their recent conflict surrounds an amendment of the fair trade bill which is scheduled to be presented before the National Assembly this fall.
The FTC is preparing a new version of a bill which emphasizes their monitoring rights, and discussions with both the government side and political sector.
In response the FKI held a chairmans' meeting on October 15 and announced, 'There is a big problem with what FTC is pursuing in the bill and we will be making our own amendments which will be more in line with international standards.' FKI is not happy with FTC's action because they feel that if the bill is executed as it is, the range of business activity will be severely limited.
The main point of contention on the amended bill is whether account searching rights will be given to the FTC or not.
The FKI commented on this, 'Our financial interactions cannot be infiltrated by anyone and it is high time that everyone should encourage business activity in all sectors, not bothersome unjust meddling.'