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
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 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