The Asia-Pacific Antitrust Review 2012

Korea: Overview

01 March 2012

Throughout 2011, the Korea Fair Trade Commission (KFTC), Korea’s competition authority, continued its active enforcement of Korean competition law, focusing on monitoring cartels and unfair trade practices. The KFTC has also exerted its efforts on encouraging shared growth through cooperation between large corporations and small and medium-sized enterprises (SMEs) and is looking at the practices of large corporations in its subcontracting activities. The year 2011 also witnessed several changes and amendments to the Monopoly Regulation and Fair Trade Law (MRFTL), the main law governing antitrust matters in Korea, and various notifications published by the KFTC, which included introduction of a consent decree system, amendment to a review standard and filing rules applicable to merger notification filings and changes to the cartel leniency programme.