Republic of Korea (South Korea)

• Pages: 1-76

CHAPTER 20

REPUBLIC OF KOREA

(SOUTH KOREA)

South Korea-3

CONTENTS

A.OVERVIEW............................................................................................................7

1.General Policies Underlying Competition Laws.........................................7

a.Introduction.........................................................................................7

b.Principal Objectives............................................................................7

c.Role of Economic Doctrines and Analysis.........................................7

2.Overview of Applicable Statutes................................................................. 7

3.Overview of Structure, Independence, and Jurisdiction

of Enforcement Agencies............................................................................8

4.Overview of Structure, Independence, and Jurisdiction

of Judicial Authorities.................................................................................8

B.SUBSTANTIVE LAW..............................................................................................9

1.Horizontal Agreements and Practices.........................................................9

a.General Information............................................................................9

b.Cartel Enforcement.............................................................................9

(1)Agreements Covered..................................................................9

(2)Enforcement Authorities..........................................................10

(3)Investigation Procedures..........................................................11

(a)Dawn Raids.......................................................................12

(b)Compelled Testimony under Oath.....................................13

(c)Compelled Production of Documents................................13

(d)Interrogatories...................................................................13

(e)Wiretapping.......................................................................13

(4)Leniency Program....................................................................13

(5)Penalties...................................................................................15

c.Treatment of Intragroup Acts...........................................................16

d.Other Horizontal Practices................................................................16

(1)Strategic Alliances....................................................................16

(2)Information Exchanges and Benchmarking.............................16

(3)Production and Specialization Agreements..............................17

(4)Standard Setting.......................................................................17

(5)Restrictive Covenants...............................................................18

(6)Purchasing Agreements............................................................18

(7)Remedies and Sanctions...........................................................18

e.Joint Ventures and Competitor Collaborations................................. 18

f.Other Defenses and Exemptions.......................................................19

2.Mergers and Acquisitions..........................................................................20

a.Transactions Covered.......................................................................20

b.Joint Ventures...................................................................................21

c.Notification and Procedure...............................................................22

(1)Jurisdiction...............................................................................22

(2)Filing Procedures......................................................................23

(3)Filing Fees................................................................................25

(4)Initial Information Requirements.............................................25

(a)Mandatory.........................................................................25