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Self-Regulation of Market, Impartiality of Economy Regulation Administration

  • Public Land Law Review
  • Abbr : KPLLR
  • 2008, 39(), pp.435-452
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

李瑞烈 1

1한국외국어대학교

Accredited

ABSTRACT

First, to address the research objectives, the author conducts a thorough literature review to figure out correct meanings of the “constitutional economic order.” Further, the author examines what economy regulation administration in South Korea means and how it has been justified in the country's constitutional order. With the discussion, the author consequently suggests that neutrality is actually a legal obligation applied to government. The neutrality of economy regulation administration is stemmed from the governmental obligation to respect private subjects' freedom and creativity in accordance with section 119 (article 1) of the Constitutional Law. The government also has the constitutional obligation to enforce neutral policies under section 119 (article 2) of the Constitutional Law, which prescribes the duty to prevent abuse of market power and to establish economic democracy through cooperation among economic subjects. As long as the free market system is the foundation of South Korea's economic order, it is impermissible for the government to intervene in market fully and exclusively. Market autonomy is the very core of the free market system. However, ironically, the government has the power to control the economic order available and the governmental intervention is necessary and demanded in oder to embody “diversity,” another rationale of the free market system. That is, it is expected that the government retains the power to protect impartiality of economic order against power concentration of certain private individuals who tend to ignore or compromise benefits of the whole society. Once it is argued that “impartiality” is the ground of the government's intervention in the market, defining “impartiality” clearly is in order. Particularly, concerning the research topic, it should be addressed what it means by holding impartiality in the process of designing policies and their implementation tools for economy regulation administration or whether it is possible that economy regulation administration actually carry out impartiality.

Citation status

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