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South Korea
By Hee Shin
The Financial Services Commission (FSC) aims to introduce a mandatory reporting system for high volume short positions.
By Eui In Hwang, Ji Kim, Yoo Geun Lim
After an extensive negotiation period, Korea has finally entered into a Free Trade Agreement with the United States of America (“KORUS FTA”) on April 2, 2007.
By Seong Un Yun, Sanghoon Shin
Under the Monopoly Regulation and Fair Trade Act, the Korea Fair Trade Commission may conduct an investigation of its own accord by taking the following measures if it deems that a violation of the act has occurred or is occurring.
By Keum Seok Oh, Jung Hun Kim
When determining an abuse of a market-dominant position by an open-market service provider, the Korea Fair Trade Commission will consider the characteristics of an open market, such as parties involved, sources of revenue, liability and risk.
By Keum Seok Oh, Sanghoon Shin
The Korean Fair Trade Commission (KFTC) reviewed its overall fair trade regime in 2006 and proposed a total of 34 items to amend in the Monopoly Regulation and Fair Trade Act (Fair Trade Act) and its Enforcement Decree.
By Jung Hun Kim, Sanghoon Shin
A recent ruling of the Korea Fair Trade Commission (KFTC) imposed substantial surcharges on six construction companies for collusion, finding that each of these companies conspired to bid for different sections of a construction project into which the construction works were divided and for which separate bids were procured.
By Keum Seok Oh, Sean Inyeop Chu, Il Kang
The US Supreme Court recently held that vertical resale price maintenance (RPM) should be reviewed under the rule of reason standard, overruling the 96-year-old case law establishing the per se illegality of minimum resale price maintenance.
By Eui In Hwang, Boh Young Hwang, Yoo Geun Lim
South Korea has introduced various amendments to its patent and utility model laws, effective for applications filed from July 1 2007. These include new requirements for drafting detailed descriptions and claims, and the adoption of late filing of claims. The amendments also impose a duty to examine each claim on examiners and shorten designated periods, effective from July 1 2007.
By Jeong Han Lee
South Korea is commonly spoken of as a country with burdensome or inflexible employment laws. This article highlights four key sets of legal limits upon employers in Korea, in part reinforced by new legislation.
On February 6 the Korean government issued a draft amendment to the Monopoly Regulation and Fair Trade Act (MRFTA), Korea’s general competition statute. Certain of the key changes proposed may be of particular interest to foreign companies that are intending to commence or are currently doing business in Korea.
Under Korean law, a third party (a shareholder, parent or affiliated company) that is closely related to a company that is found have violated the MRFTA may be considered directly or indirectly liable for such company’s violation
By Kyung Jik Kwak
What happens when the lion roars? Yes, the movie starts. The movie I will discuss today, however, is not one from MGM but from Paramount, The Godfather. It begins with a statement by an undertaker that he believed in America.
By Keon Ho Lee
In Korea, anti-dumping investigations are conducted by the Korea Trade Commission (KTC), which was founded in July 1987. The KTC is currently composed of one chairperson and eight commissioners, including one designated as a standing commissioner.
By Keun Byung Lee, Hee Gang Shin
Ruling confirms long-suspected risk of liability for directors and officers in approving use of target company assets as security for acquisition financing.
Korea has seen a dramatic increase in international commercial disputes in recent years. Among these, post-M&A deal disputes have become increasingly common and acrimonious. As the authors detail below, a historically unique set of circumstances set the stage for this swift rise in international disputes in Korea.