South Korea’s Fair Trade Commission is now investigating Apple

South Korea’s Fair Trade Commission (FTC) is investigating “some matters” relating to tech giant Apple Inc, the head of the anticompetition body said during a parliamentary hearing, without disclosing further details. Speaking at the hearing on Tuesday, FTC Chairman Jeong Jae-chan declined to comment on the specifics of the regulator’s investigation when asked to do so by a South Korean lawmaker. Domestic media reports said earlier this month the FTC was reviewing details of the U.S. firm’s contracts with South Korean mobile telecoms carriers. Apple didn’t immediately respond to a Reuters request for comment. However, AppleInsider reports that this is not Apple’s first tryst with the KFTC. In 2012, it lodged a formal antitrust complaint against its biggest rival, Samsung on grounds of abusing certain wireless technology patents to gain an edge in the smartphone market. The FTC functions as a quasi-judiciary body while also being a ministerial-level central administrative organization. The FTC is responsible for formulating and administering competition policies. It also debates and decides upon antitrust cases. The FTC comprises of a committee which forms the decision-making body, a secretariat and a working body. The Committee’s 9 commissioners deliberate upon and take decisions on competition and consumer protection issues. Reuters