South Korea’s corporate watchdog chief said Monday, November 26, that the revision to the fair trade law is very important for the impartial implementation of the country’s antitrust rules.
“The revision is very important in that it would determine the implementation of the country’s competition law,” Kim Sang-jo, the chief of the Korean Fair Trade Commission (KFTC), said in a forum.
The KFTC chief, however, said it would be very tough for the revision to be ratified by the parliament as there are still huge differences of opinions.
In August, the KFTC proposed the revision of the fair trade law, which will increase the number of conglomerate subsidiaries subject to inter-affiliate trading regulations by threefold.
The revision to the law also bans inter-affiliate trading within a business group whose founding family members hold over 20% stakes in both listed and unlisted companies, and over 50% in their affiliates.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI