The KFTC formulates and administers competition policies, and deliberates, decides, and handles antitrust cases. The KFTC performs OUR roles and duties independently without any intervention from an outside organization.

The KFTC consists of a committee, the decision-making body, and a secretariat, a working body. The committee consists of 9 commissioners, who deliberate and make decisions on competition and consumer protection issues. The Chairperson and the Vice Chairperson are recommended by the Prime Minister and appointed by the President, while other remaining commissioners are recommended by the Chairperson and appointed by the President. Term of office is 3 years for the commissioners.

The secretariat is directly involved in drafting and promoting competition policies, investigating antitrust issues, presenting them to the committee, and handling them according to the committee's decision.

The KFTC is committed to four main mandates: promoting competition, strengthening consumers' rights, creating a competitive environment for SMEs and restraining concentration of economic power. To that end, the KFTC enforces 12 laws including the Monopoly Regulation and Fair Trade Act (MRFTA).

securing a fair market order that abides by principal Korea Fair Trade Commission by promoting a fair and free competition in the market the kfdc business Innovation and empowers consumers thereby contributing to the balanced growth of the national economy the kftc also puts an efforts to ensure a fair trade order between large companies and smes in 1980 the Monopoly regulation and fair trade Act was enacted and in the following year the KFTC was born under the then economy planning in for in 1994 the KFTC became independent as a central administrative body under the prime minister in 1996 the kftc Chairman's position was elevated from the vice ministerial to the ministerial level in 2008 the kfdc assumed consumer policy related functions in 2013 the kftc moved to sejong City the kftc spares no effort to secure a fair market order that by principles the kfdc carries out various policies to make sure it lays a solid foundation for the Korean economy to take another leap forward based on business creativity and competition on innovation the kftc carries out competition policies that improved monopolistic Market structure and remedy unfair acts such as cartel's and abuse of dominance the kfcc improves regulation that limit Market entry and business activities and reviews anti-competitive m&as by doing so The kfdc Fosters at competition Friendly Market environment the KFTC's competition policies also try to secure a Fair competition order by redressing Cartel which undermines Market principle abuse of dominance which limits competition by leveraging the market power and unfair Trade Practices such as tie-in sales second the kftc carries out large business group policies keeping concentration of economic power in check and encouraging the Improvement of corporate ownership and governance struct the kftc induces businesses to improve their corporate ownership and governance structure it prohibits large business groups from Mutual investment and new circular Equity investment it also enforces policy on holding moreover the kftc has a policy that makes information on business groups publicly available this is to help the market voluntarily monitor itself and to lead businesses to pursue more transparency and responsibility the kftc also monitors and sanctions dominant shareholders of business groups against defrauded third the kfdc protects and empowers consumers through consumer policy in order to help consumers make reasonable choices the kftc provides consumers with sufficient information on prices qualities and Alternatives of products especially products that are closely related to the lives of the people the kftc also organizes consumer education programs to equip consumers with capabilities necessary for a reasonable consumption life the kftc consumer policies also address unfair acts in areas where consumers are particularly vulnerable these areas include adhesion contracts labeling an advertisement pyramid selling door-to-door sales and other special transactions death-care business and e-commerce business 4 the KFTC pursues policies on business transaction addressing unfair transaction practices between in large companies and smes and fostering a win-win culture the kftc tackles unfair transaction practices in subcontracting areas such as unfair unit price setting and refusal to pay it also tries to protect Technologies of smaller companies from being extorted furthermore the kftc addresses unfair transaction practices between large Distributors and smaller suppliers or retailers as well as franchise headquarters and franchises it also encourages the signing of the so-called fair trade pact promoting a culture of coexistence and cooperation between large companies and smes the era of competition Without Borders the Korea Fair Trade Commission will continue bringing the Korean economy flourish to advanced economy an economy flourishes with creativity and innovation