KFTC officials move to top law firms in rising revolving door trend

Data released by lawmaker Han Chang-min reveals that 86 former officials from the Korea Fair Trade Commission (KFTC) have moved to the nation’s top 10 law firms over the past decade. The trend has accelerated recently, with 57 individuals—representing 66.3% of the total—moving to law firms within the last five years.

Kim & Chang recruited the highest number of former KFTC officials with 21 individuals. Other major firms receiving KFTC retirees include Taepyungyang (13), Yulchon (11), and Hwawoo (10). These transitions have resulted in significant salary increases; for instance, those moving to Kim & Chang saw their average monthly pay rise from 8.25 million won to over 30 million won, an increase of approximately 3.7 times.

The influx of former regulators into the private sector has raised concerns regarding potential conflicts of interest. Critics note that these individuals often represent corporations in collusion-related lawsuits against the KFTC, which handled 263 such cases between January 2021 and July 2024. Of these, 72.6% were handled by the top 10 law firms. Lawmakers have called for stricter scrutiny of employment reviews and post-retirement work restrictions to ensure the fairness of regulatory proceedings.