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Protectionist measures proposed as revisions to Monopoly Regulations and Fair Trade Act

By  |  February 9, 2012

The Saenuri party’s interim council has decided to propose revisions to the Monopoly Regulations and Fair Trade Act to protect small and medium-sized enterprises. The changes include:

  • limiting conglomerates’ market share in certain business fields to 1 percent;
  • setting up regular inspections of transactions between conglomerate branches;
  • triple damages to subcontractor victims of unfair dealings;
  • establishing a class action system for small firms to bring bid-rigging cases.

Source: Korea Herald

 

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