[REPORTERSNOTEBOOK] FTC's costly crackdown on conglomerates generates little return

The Fair Trade Commission has returned nearly 290 billion won in fines to companies since 2022 after administrative courts overturned its sanctions. During the first nine months of this year, it refunded 23 billion won, with 99.7 percent tied to sanctions overturned in whole or part. Despite this record, the government is strengthening enforcement, and the FTC imposed 1.82 trillion won in fines through September. The tougher approach is prompting companies to prepare more aggressively for litigation.

The refunded amount since 2022 equals approximately $216.7 million.

The FTC imposed 1.98 trillion won in combined fines from 2022 through 2025.

The government ordered the antitrust authority to increase its investigative staff after President Lee Jae Myung took office last year.

Refunds can include interest payments, increasing the potential public cost when sanctions are overturned or revised.

Companies are increasingly challenging FTC penalties in court because they view the regulator’s litigation record as leaving room to contest enforcement decisions.

Published Oct 18, 2026 3:21 pm KST

Updated Oct 18, 2026 5:42 pm KST

Companies increasingly turn to courts to evade hefty fines

Fair Trade Commission Chairman Ju Biung-ghi answers lawmakers’ questions during a National Assembly's annual audit in Seoul, Oct. 12. Yonhap

The Fair Trade Commission’s (FTC) increasingly aggressive crackdown on major conglomerates is generating a costly cycle with little tangible return, as the watchdog has been forced to refund billions of won in fines overturned by courts.

The watchdog has returned nearly 290 billion won ($216.7 million) to companies since 2022 after administrative court rulings overturned its sanctions.

The figures raise questions about whether the regulator’s tougher enforcement produces lasting results or simply creates more legal and financial burdens for both businesses and taxpayers.

The latest figures offer little reassurance. For the first nine months combined this year, the FTC returned 23 billion won in fines and associated payments, with 99.7 percent of the amount attributable to sanctions overturned in whole or in part through administrative litigation, according to data submitted to Rep. Choi Eun-seok of the main opposition People Power Party.

But the regulator is moving in the opposite direction. Since President Lee Jae Myung took office last year, the government has pushed to strengthen penalties for corporate violations. The administration has also ordered the antitrust authority to increase its investigative staff to crack down on unfair corporate activities.

A shopper browses food products at a supermarket in Seoul, Wednesday, as the Fair Trade Commission launches its first investigation into alleged collusion among food companies over processed food products. Yonhap

The FTC imposed 1.82 trillion won in fines through September this year, nearly matching the combined 1.98 trillion won imposed between 2022 and 2025.

Larger penalties inevitably raise the stakes in disputes over whether violations occurred and how fines were calculated. If courts overturn or revise more sanctions, the public cost of refunding companies — including interest payments — could rise further.

The enforcement climate is also shaping corporate behavior. Business circles have become increasingly accustomed to challenging FTC sanctions in court, partly because companies believe the regulator’s litigation record leaves room to contest its decisions.

“Major industry players are already widely aware that the FTC does not have a particularly high win rate in penalty-related lawsuits,” an industry official said. “With the current administration taking a tougher regulatory stance toward businesses, companies are preparing accordingly, including by gearing up for litigation.”

For companies facing potentially massive fines, challenging a penalty has become a way to protect their finances rather than simply an exceptional legal remedy. Lengthy court battles can also delay final settlements and force the regulator to defend its calculations years after announcing a sanction.

The question is not whether corporate misconduct should be punished. It is whether the FTC can make its penalties more legally durable as it expands enforcement. Without stronger cases and more defensible calculations, a tougher crackdown could produce bigger headline fines without delivering equally lasting results — while leaving taxpayers to cover the cost when those sanctions fall apart.

自2022年以来，韩国公平交易委员会已向企业退还了近2900亿韩元的罚款，这些罚款均来自行政法院推翻的处罚决定。今年前九个月，该委员会退还了230亿韩元，其中99.7%的退款与全部或部分被推翻的处罚有关。尽管取得了这一成绩，韩国政府仍在加强执法力度，截至9月份，公平交易委员会已开出1.82万亿韩元的罚单。这种更加强硬的执法方式促使企业更加积极地为诉讼做好准备。

自 2022 年以来，退款金额约为 2.167 亿美元。

从 2022 年到 2025 年，韩国公平交易委员会共处以 1.98 万亿韩元的罚款。

去年李在明总统上任后，政府下令反垄断机构增加调查人员。

退款可能包括利息支付，这会增加制裁被推翻或修改时可能产生的公共成本。

由于企业认为监管机构的诉讼记录为质疑执法决定留下了余地，因此越来越多的企业开始在法庭上挑战联邦贸易委员会的处罚。

发布于2026年10月18日下午3:21（韩国标准时间）

更新于2026年10月18日下午5:42（韩国标准时间）

企业越来越多地诉诸法庭来逃避巨额罚款。

10月12日，韩国公平交易委员会委员长朱炳基在首尔举行的国会年度审计会议上回答议员提问。（韩联社）

公平交易委员会（FTC）对大型企业集团日益强硬的打击造成了代价高昂却收效甚微的恶性循环，因为该监管机构已被迫退还数十亿韩元的罚款，而这些罚款已被法院推翻。

自 2022 年以来，在行政法院推翻其制裁后，监管机构已向相关公司返还了近 2900 亿韩元（2.167 亿美元）。

这些数据引发了人们的疑问：监管机构更严格的执法是否会产生持久的效果，还是仅仅给企业和纳税人带来更多的法律和经济负担。

最新数据显示的情况令人担忧。据提交给主要反对党国民力量党议员崔银锡的数据显示，今年前九个月，韩国公平交易委员会共追回罚款及相关款项230亿韩元，其中99.7%的罚款或处罚款项通过行政诉讼全部或部分被推翻。

但监管机构的做法却截然相反。自李在明总统去年上任以来，政府一直在推动加大对企业违法行为的处罚力度。政府还责令反垄断机构增加调查人员，以打击不公平的企业行为。

周三，一名顾客在首尔一家超市浏览食品。与此同时，韩国公平交易委员会对食品公司涉嫌串通牟利加工食品一事展开了首次调查。（韩联社）

今年截至9月，韩国公平交易委员会已处以1.82万亿韩元的罚款，几乎与2022年至2025年期间处以的罚款总额1.98万亿韩元持平。

更严厉的处罚必然会加剧关于违规行为是否发生以及罚款计算方式的争议。如果法院推翻或修改更多制裁措施，政府为企业退款（包括利息支付）的成本可能会进一步上升。

执法环境也在影响着企业的行为。商界越来越习惯于在法庭上挑战联邦贸易委员会的制裁，部分原因是企业认为监管机构的诉讼记录为其质疑其决定留下了空间。

一位业内人士表示：“业内主要参与者普遍清楚，联邦贸易委员会在罚款相关诉讼中的胜诉率并不高。鉴于本届政府对企业采取了更为强硬的监管立场，各公司正在为此做好相应的准备，包括积极应对诉讼。”

对于面临巨额罚款的公司而言，挑战处罚已成为保护自身财务状况的一种手段，而不仅仅是一种特殊的法律救济途径。旷日持久的诉讼还会拖延最终和解，并迫使监管机构在宣布处罚决定数年后为其计算结果辩护。

问题不在于是否应该惩罚企业不当行为，而在于联邦贸易委员会（FTC）在扩大执法力度的同时，能否确保处罚措施具有更强的法律效力。如果没有更有力的证据和更站得住脚的计算，更严厉的打击措施或许只会带来更高的罚款，却无法取得同样持久的效果——而当这些制裁措施失效时，最终买单的却是纳税人。