The Korea Fair Trade Commission (KFTC) has announced that it will completely abolish the maximum cap on whistleblower rewards for reporting unfair trade practices such as corporate collusion or illegal support, and will significantly increase the reward payout rate to up to 10% of the imposed fine. As a result, if a massive collusion case worth hundreds of billions of won is reported, a whistleblower could potentially receive a record-breaking reward amounting to tens of billions of won.
The KFTC stated that it has prepared an amendment to the "Regulations on Reward Payments to Whistleblowers of Violations of the Monopoly Regulation and Fair Trade Act, etc." based on this policy, and will conduct an administrative notice from May 21 to June 10. This move is intended to provide a strong incentive for internal whistleblowers to report secretive collusion between companies, while also creating a powerful sense of caution among businesses that insiders can report violations at any time, thereby fundamentally deterring illegal conduct. After completing the administrative notice and related procedures, the KFTC plans to finalize and implement the amendment within the first half of the year.
The core of the amendment is the elimination of the maximum reward limit for each type of violation. Previously, the reward cap was set at 3 billion won...
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