Global Competition Law is primarly a practitioner's guide presenting the most salient aspects of the major competition laws country by country, giving an overview of their structure and most charasteristic elements.
Global Competition Law also provides insight into possible future developments in the field.

Global Competition Law

The Korea Fair Trade Commission is formed of:
- a Commission (the decision-making body) which consists of nine commissioners who deliberate and make decisions on competition and consumer protection issues;
- a secretariat (the working body), which is directly involved in drafting and promoting competition policies, investigating antitrust issues and presenting them to the Commission and handling t …

The Korea Fair Trade Commission (KFTC)

The Korea Fair Trade Commission is formed of:

- a Commission (the decision-making body) which consists of nine commissioners who deliberate and make decisions on competition and consumer protection issues;

- a secretariat (the working body), which is directly involved in drafting and promoting competition policies, investigating antitrust issues and presenting them to the Commission and handling the issues in line with the Commission's decision.

A person may claim damages for losses suffered from an agreement that unreasonably restricts competition, unless the defendants prove that the violation was neither intentional nor negligent (Article 56(1) of the MRFTA). There were no other special procedures or rules for these claims for damages. However, amendments brought to the MRFTA in March 2019 introduced punitive damages. Whereas previously, claims were in practice limited to the actual damage suffered, the courts are now allowed to impose treble damages, except against leniency beneficiaries, which will only be accountable for the actual damage caused.

Under Article 56-2 of the MRFTA the court may in the case of a follow-on action request the KFTC to communicate its records of the case. No class actions are permitted for unlawful restrictive agreements or practices.

Proceedings for the recovery of pecuniary penalties, applications for injunctions and action for damages are heard by the Korean District Court.

Global Competition Law

1280. The Korea Fair Trade Commission (KFTC)

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Les notions juridiques connexes

1280. The Korea Fair Trade Commission (KFTC)

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise