Gyeonggi Province Establishes Fair Trade System for Local Companies

Gyeonggi Province and the Gyeonggi Economic and Science Promotion Agency are joining forces to create a fair trade system for local companies.

The Fair Trade Commission has announced a recruitment drive for companies to participate in the ‘Fair Trade Voluntary Compliance System (CP)’ consulting support project. The project aims to establish a fair trade system and improve productivity for five companies in the province by September 26th.

The Fair Trade Voluntary Compliance System is an internal compliance system that companies operate to comply with fair trade-related laws. The consulting service provided by the Fair Trade Commission will enable small and medium-sized companies in the province to prepare for the ‘Regulations on the Operation and Incentives of Fair Trade Voluntary Compliance Programs’ legislated on June 21.

The program was established to resolve polarization through win-win cooperation between large, medium, and small businesses and to create a foundation for sustainable growth for local businesses.

The recruitment target is small and medium-sized companies with headquarters or factories in Gyeonggi Province and over three years of operation. The Gyeonggi Research Institute will select five companies next month through a comprehensive evaluation of management status, transaction performance, willingness to introduce CP, and feasibility of CP operation goals.

The selected companies will receive consulting costs of up to 10 million won per company by the end of this year. The main contents include CP introduction consulting, CP operation inspection consulting, and CP manual production and revision. Through this consulting, companies will receive support to strengthen their fair trade voluntary compliance capabilities.

Director Kang Sung-cheon of the Fair Trade Commission stated, “We will provide various support so that through CP introduction consulting support, a fair trade system can be established for small and medium-sized enterprises in the province and a culture of voluntary compliance can be spread.”