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South Korea: Watchdog gets serious with possible fine hikes for antitrust violators

By  |  June 11, 2013

South Korea’s Fair Trade Commission is reportedly gearing up to enact new policies and standards for punishing those found guilty of anticompetitive practices in a move that reports say could result in higher fines for antitrust violators. The FTC announced its proposed “notice on guidelines with regard to imposing fines” and plans to set the new policies into effect this coming Monday. The new policies include a point-based system as a means of objective scaling the severity of antitrust violations; that scale is one of several factors that determines antitrust fines. The FTC’s three categories of severity are “very serious,” “serious” and “lightly serious.”

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