President Lee Jae-myung on the 19th said, "Collusion that exploits market dominance blocks fair competition, undermines trust, and is a cancerous presence that hinders the national economy," adding, "If anti-market acts are repeated, we will consider permanently expelling them from the market."
In opening remarks at the senior secretaries' meeting that afternoon at the Blue House, Lee said, "Right now, anti-market collusion exists across the economy and industry, including sugar, flour, meat, school uniforms, and real estate," adding, "We must eradicate these nasty crimes to make a qualitative leap in the economy possible."
Lee emphasized, "To that end, heavy sanctions far exceeding the gains from collusion are necessary," adding, "Because these acts are done to make money, sanctions like criminal punishment are not effective. We need deprivation of economic interests or substantive economic sanctions."
Lee said, "If we rely on criminal punishment, it can veer wrongly into the punishment-at-all-costs approach we experienced," adding, "If anti-market acts are repeated, we will consider permanently expelling them from the market." He continued, "To uproot market-disrupting forces, I emphasize a strong and swift, whole-of-government response."
At the senior secretaries' meeting on the 12th, Lee also said, "I hear the cost of buying a school uniform is approaching 600,000 won. They even call (school uniforms) 'spine breakers,'" adding, "We should check whether charging that much is reasonable and, if necessary, prepare measures." Afterward, the government decided to hold a joint meeting to examine whether there were unfair practices such as collusion among school uniform companies.
As the first senior secretaries' meeting held right after the Lunar New Year holiday saw Lee again stress harsh punishment for collusion, there is a possibility that investigations into unfair practices will expand across the broader economy.
Lee said, "We will establish a fair and rational social order for everyone and build an economy of all that continues to grow and develop," adding, "All public officials should not miss even small and trivial matters and should create changes that the public can feel through bold administration."