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South Korea set to strengthen public-tender oversight, increase subcontracting-law penalties

By Wooyoung Lee ( August 24, 2023, 07:55 GMT | Insight) -- Businesses in South Korea are expected to experience two major changes in antitrust oversight under recent amendments to the competition law and an upcoming change to the penalty structure for violations of subcontracting law. The Korea Fair Trade Commission aims to broaden its oversight of bid-rigging activities in public procurement by adding 725 public agencies from which it can request information for suspicious bid-rigging activities.Businesses in South Korea are expected to experience two major changes in antitrust oversight under recent amendments to the competition law and an upcoming change to the penalty structure for violations of subcontracting law....

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