South Korea (December 31, 2004)

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Score = 25

Governed by: Monopoly Regulation and Fair Trade Act of 1980, with amendments.[1]

Category Subcategory Score Comment
Scope Extraterritoriality 1 Article 2-2 extends scope overseas
Remedies Fines 1 Article 22 imposes fines for violations of Article 19.
Prison Sentences 1 Article 66(1) allows the Commission to impose imprisonment for violations of Article 3-2.
Divestitures 1 Article 21 states that the Fair Trade Commission may order an enterpriser to discontinue an act, publicly announce the fact of receiving corrective order, or take other corrective measures.
Private Enforcement 3rd Party Initiation 1 Article 49(2) says that any person who deems that a violation of the Act has occurred may report it.
Remedies Available to 3rd Parties 1 Article 56 says that an enterprise that violates the Act can be liable for damages to those who were injured by the violation.
3rd Party Rights in Proceedings 0
Merger Notification Voluntary 0
Mandatory 3 Article 12(1) requires notification of mergers.
Pre-merger 0
Post-merger 1 Article 12(6) says that notification must occur within 30 days of the merger.
Merger Assessment Dominance 1 Article 7(4)(1)(a) considers dominance
Restriction of Competition 1 Article 7 bans mergers that have negative effects on competition.
Public Interest (Pro D) 0
Public Interest (Pro Authority) 0
Other 0
Efficiency 1 Article 7(2) exempts mergers that promote efficiency enough to make up for the negative effects on competition.
Dominance Limits Access 1 Article 3-2(2) prohibits unreasonably controlling the buying and selling of goods on the market.
Abusive Acts 1 Article 3-2 prohibits the abuse of a dominant position.
Price Setting 1 Article 3-2(1) prohibits price setting.
Discriminatory Pricing 1 Article 23(1)(1) prohibits discriminatory transactions
Resale Price Maintenance 1 Article 29 prohibits RPM.
Obstacles to Entry 1 Article 3-2(4) prohibits acts unreasonably impeding the participation of new competitors.
Efficiency Defense 0
Restrictive Trade Practices Price Fixing 1 Article 19(1)(1) prohibits price fixing.
Tying 1 Article 3-2(2), 3-2(5) prohibit tying.
Market Division 1 Article 19(1)(4) prohibits market division.
Output Restraint 1 Article 19(1)(3) prohibits output restraint.
Market Sharing 1 Article 19(1)(8) prohibits market sharing
Eliminating Competitors 1 Article 23(1)(2) prohibits acts designed to unfairly exclude competitors.
Collusive Tendering/Bid-Rigging 1 Article 19(1)(8) prohibits collusive tendering
Supply Refusal 1 Article 23(1)(1) prohibits agreements meant to refuse transactions with a certain enterprise.
Efficiency Defense 1 Article 19(2) allows certain unfair practices for purposes of economic development and industrial rationalization.

References

  1. Korea Free Trade Commission website, http://ftc.go.kr/data/hwp/(1)mrfta.doc