Companies to see eased antitrust prosecution-referral procedure in South Korea

By Wooyoung Lee ( January 2, 2023, 08:43 GMT | Insight) -- The Korea Fair Trade Commission, the Ministry of SMEs and Startups, and the Public Procurement Service have agreed to shorten the period during which the two agencies could ask the KFTC to send cases to prosecutors from six months to four months. Under the new procedures, when extending the period beyond four months, the Ministry of SMEs and the Public Procurement agency are required to provide an explanation for extending their review and the expected timing of any referral procedure to reduce uncertainties for companies.Companies will now be able to find out if they face an additional risk of getting referred for criminal prosecution in South Korea after an antitrust decision has been imposed, along with an explanation for subsequent referrals....

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Companies to see eased antitrust prosecution-referral procedure in South Korea

Prepare for tomorrow’s regulatory change, today

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