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Updated guidelines for criminal referrals in competition cases take effect in South Korea

( December 28, 2023, 03:00 GMT | Official Statement) -- MLex Summary: The revised guidelines by the South Korean competition regulator for criminal referrals related to competition-law violations went into effect today. According to a statement from the Korea Fair Trade Commission, these updates introduce additional factors for evaluating potential criminal complaints, such as market impact and the extent of harm to small businesses and consumers. Additionally, the regulator has modified terms related to repeat offenders and expanded the range of cooperation that influences referral decisions. A proposed amendment on referring affiliates engaged in shareholder expropriation was withdrawn following expressions of concern.The statement, in Korean, is attached....

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