While the entire agreements were formed in Japan, the Commission deemed that the Korean market was directly affected because the products subject to the cartel were supplied to Korean companies. Article 2-2 of the Act, which took effect ...
Author: A Neil Campbell
Publisher: Law Business Research Ltd.
Cartel Regulation, edited by A Neil Campbell of McMillan LLP, addresses the most important issues practitioners face to mitigate the fines imposed on clients under the scrutiny of antitrust authorities. Featuring expert local insight into cartel regulation across 41 jurisdictions, the book covers crucial topics such as: relevant legislation and substantive law,industry-specific offences and defences, steps in an investigation, investigative powers, international cooperation, interplay between jurisdictions, adjudication, appeal process, criminal, civil and administrative sanctions, private damage claims and class actions, recent penalties, sentencing guidelines, leniency and immunity programmes, defending a case and getting the fine down. In an easy-to-use question and answer format, trusted and reliable information on key topics of law and regulation in this area is provided by leading practitioners around the world. As well as in-depth comparative study of the topic from the perspective of leading experts there are also editorial chapters covering Brexit, the ICN, a global overview and also a quick reference table proving a brief overview of procedural guidelines. "e;The comprehensive range of guides produced by GTDT provides practitioners with an extremely useful resource when seeking an overview of key areas of law and policy in practice areas or jurisdictions which they may otherwise be unfamiliar with."e; Gareth Webster, Centrica Energy E&P
As a country with active enforcement of competition laws, Korea routinely participates in global cartel enforcement. For instance, officials from the Korean Cartel Bureau and US Department of Justice (USDOJ) hold a teleconference to ...
Author: Seung Wha Chang
Publisher: Edward Elgar Publishing
Beginning with an introduction to the trading regime in Korea, and an overview of the basic trade laws and regulations, the expert contributors move on to cover specific topics in detail. They examine import/export measures (such as customs, rules on country of origin, import procedures, and export controls on strategic items) as well as trade remedies and trade in services. In addition, the book assesses the impact of competition laws on trade and concludes by considering the issues of foreign investment and FTAs.
... a competition authority's commitment to an intelligenceled approach to anticartel enforcement.131 Mechanisms providing for bounties in cartel cases have been introduced in both the UK132 and South Korea.133 According to the Korean ...
Author: Peter Whelan
Publisher: Oxford University Press, USA
The challenges facing the criminalisation of cartel activity in the European Union are threefold: theoretical, legal, and practical. This book analyses these crucial challenges so that the complexity of the process of European antitrust criminalisation can be accurately understood.
Canada, the European Commission, Japan and Korea also conducted investigations into this cartel. The Canadian investigation into the graphite electrode cartel continues; to date, three corporations have been fined a total of ...
Publisher: OECD Publishing
This book reviews progress in the fight against hard core cartels. It quantifies the harm caused by cartels and identifies improved methods of investigation. It also examines progress in strengthening sanctions against businesses and individuals.
[Industrial and medical gases, EC1, 83] In the lysine cartel, the Korean firm Sewon was demanding an increase in its allocation from 37,000 tons to 50,000 tons. If Sewon actually supplied this larger amount, ADM threatened not only to ...
Author: Joseph Emmett Harrington
Publisher: Now Publishers Inc
Category: Business & Economics
This paper distills and organizes facts about cartels from about 20 European Commission decisions over 2000-2004. It describes the properties of a collusive outcome in terms of the setting of price and a market allocation, monitoring of agreements with respect to price but more importantly sales, punishment methods for enforcing an agreement and also the use of buy-backs to compensate cartel members, methods for responding to external disruptions from non-cartel suppliers and handling over-zealous sales representatives, and operational procedures in terms of the frequency of meetings and the cartel's organizational structure.
The Korean Four Rivers restoration project Cartel (2012) Nineteen construction companies formed a bid-rigging cartel in relation to the Korean government's project to refurbish four major Korean waterways. Executives of the companies ...
Author: Patrick Hubert
Companies today must consider and comply with competition law in their daily business management. The financial and reputational risks for breaching such rules are severe and the success of many merger and acquisition projects depends very much on it. While competition law rules become increasingly sophisticated, business people are still expected to comply with it. Rather than giving a theoretical approach that can be found in a typical practitioner’s book or textbook, «Day-to-Day competition law: a practical guide for businesses» is genuinely a practical book. The interaction between theory and practice is the main feature of the book. Major competition law issues are explained in a jargon-free manner and summarized in a nutshell at the end of each chapter. Not only will the reader gain an understanding of competition law rules, but also will gain a better understanding on how a company can behave and what to do if it is subject to an investigation by the competition authorities. This practical guidance may serve as a platform for designing internal in-house rules governing behaviour in relation to competition law, and may also trigger a revision of such rules in light of some of the issues raised by the authors. While a particular focus is drawn on the EU – as the EU competition law system is replicated in a large number of countries around the world – reference to differing rules and other key jurisdictions such as the United States is also made. This book is written to appeal to business people, as well as non-specialized in-house lawyers, and all those who wish to understand competition law in a clear and practical way. The authors’ experience in the field of competition law ranges from leading investigations on behalf of competition authorities to applying competition law in a major global company in its daily activities, and advising multinational clients of one of the world’s leading law firms. It is this professional insight which provides the reader with an invaluable inside view of all aspects of competition law, from the way authorities think to the impacts competition law has on businesses.
During the last two decades, Korean industry has been developed very quickly.
Author: Jin Seob Cha
During the last two decades, Korean industry has been developed very quickly. Energy consumption also has been increased very rapidly by the growth of industry. These energy requirements should be imported from other countries because Korea has few energy sources. Korean energy consumption depends highly on oil, even though oil has less security of supply and a higher price than other energy sources due to the limitation of oil reserves and the oil cartel. The Korean government wishes to import energy sources with more security of supply and a lower price.
On August 26, 2003, the Seoul High Court, which has exclusive first instance jurisdiction over challenges to KFTC's measures, affirmed the KFTC's decision of April 4, 2002 to extraterritorially apply Korea's cartel regulations to ...
Author: Mark Williams
Publisher: Edward Elgar Publishing
'This is a very timely book which provides an unprecedented analysis of the factors which have shaped the competition law systems of ten Asian countries and Australia. The comprehensive discussion from varying viewpoints against the backdrop of the significantly different environments within which the respective regimes have developed creates a framework for the comparative assessment of competition law systems elsewhere in the world.' Lutz-Christian Wolff, The Chinese University of Hong Kong 'New competition laws have been adopted throughout Asia in recent years, and some of the older laws have been significantly strengthened. This makes Asia a fascinating region in which to look at the political and economic circumstances of the countries in which such laws are to be found, and to consider the very different conditions that exist within them. This book will be an invaluable guide to anyone with an interest in the developing competition law regimes of this immensely important part of the world.' Richard Whish, King's College London, UK This detailed book describes and analyses the essential political economy features that provide the backdrop to the competition policies and competition law regimes of several of the most important Asian economies. The book also discusses the impact of these political economy influences in determining whether the adopted competition policy is effective. Each of the authors experts in their respective countries offer specific insights into the nature and structure of their competition regimes and discuss to what extent the varied political economy factors unique to that country help to determine whether and to what extent the established system promotes or hinders economic competition in that jurisdiction. Comprising wide coverage of Asian jurisdictions, including Australia, this book will strongly appeal to students and academics of law, politics, economics and economic development, policy makers in national governments, international agencies and competition authorities, as well as practicing competition lawyers and in-house counsel.
Korea Korea's competition laws are established under the Monopoly Regulation and Fair Trade Act and enforced by the Korean ... See, e.g., Korean Fair Trade Commission, Recent Changes to Korea's Cartel Enforcement Regime, at 1 (May 31, ...
Author: Jonathan M. Jacobson
Publisher: American Bar Association
Rev. ed. of : Antitrust law developments (fifth). c2002.
... to 1995–2004.135 In 2002 South Korea fined participants in the graphite electrode cartel – the Korea Fair Trade Commission's first assessment of fines against an international cartel since its creation in 1981.136 Korea also imposed ...
Author: John Duns
Publisher: Edward Elgar Publishing
Comparative Competition Law examines the key global issues facing competition law and policy. This volume’s specially commissioned chapters by leading writers from the United States, Europe, Asia, South America, and Australia provide a synthesis of how these current issues are addressed by drawing on the approaches taken in different jurisdictions around the world. Expert contributors examine the regulation of core competitive conduct by comparing substantive law approaches in the US and the EU. The book then explores issues of enforcement – such as the regulator’s powers, whether to criminalize anti-competitive conduct, the degree to which private enforcement ought to be encouraged, and the extraterritorial scope of domestic laws. Finally, the book discusses how competition law is being implemented in a variety of countries, including Japan, China, Brazil, Chile, and Colombia. This scholarly analysis of the key substantive, procedural, and remedial challenges facing global competition law policymakers offers a comparative framework to facilitate a better understanding of relevant policies. This collection of global perspectives will be of great interest to scholars and students of competition law, microeconomics, and regulatory studies. Competition law regulators, policy makers, and law practitioners will also find this book an invaluable resource.
Moreover, the cost of compliance has not increased noticeably since the introduction of cartel bounties in 2002. The Korean Fair Trade Commission (KFTC) offers a reward to infor- mants based on a percentage ofthe cartel overcharge.
Author: D. Daniel Sokol
Publisher: Stanford University Press
The vast majority of the countries in the world are developing countries—there are only thirty-four OECD (Organisation for Economic Co-operation and Development) countries—and yet there is a serious dearth of attention to developing countries in the international and comparative law scholarship, which has been preoccupied with the United States and the European Union. Competition Law and Development investigates whether or not the competition law and policy transplanted from Europe and the United States can be successfully implemented in the developing world or whether the developing-world experience suggests a need for a different analytical framework. The political and economic environment of developing countries often differs significantly from that of developed countries in ways that may have serious implications for competition law enforcement. The need to devote greater attention to developing countries is also justified by the changing global economic reality in which developing countries—especially China, India, and Brazil—have emerged as economic powerhouses. Together with Russia, the so-called BRIC countries have accounted for thirty percent of global economic growth since the term was coined in 2001. In this sense, developing countries deserve more attention not because of any justifiable differences from developed countries in competition law enforcement, either in theoretical or practical terms, but because of their sheer economic heft. This book, the second in the Global Competition Law and Economics series, provides a number of viewpoints of what competition law and policy mean both in theory and practice in a development context.
(4) South Korea South Korea adopted its competition law, the Monopoly Restraint Fair Trade Act (MRFTA) in 1980 after ... The serious attitude of KFTC against cartel regulation went along with the independent operation of competition ...
Author: John Sanghyun Lee
This book addresses the lack of binding multi-lateral international agreement on cartels, through analysis of trials and failures. It also suggests strategic approaches to overcome current standstills. In addition, the book contrasts international agreement on cartels with inter-governmental commodity agreement which has been developed separately through international law. Through this project, the author puts forth that successful international law on cartels needs to reflect the interests and arguments of developing countries.
Article 12.3(1) of Korea–China FTA provides, 'Each Party shall in its territory accord to investors of the other ... In this regard, it may be difficult for a Korean investor to challenge the amount of fine in a cartel investigation.
Author: Julien Chaisse
Publisher: Oxford University Press
Since China adopted its 'open door' policy in 1978, which altered its development strategy from self-sufficiency to active participation in the world market, its goal has remained unchanged: to assist the readjustment of China's economy, to coordinate its modernization programs, and to improve its quality of life. With the 1997 launch of the 'Going Global' policy, an outward focus regarding foreign investment was added, to circumvent trade barriers and improve the competitiveness of Chinese firms. In order to accommodate inward and outward investment, China's participation in the international investment regime has underpinned its efforts to join multilateral investment-related legal instruments and conclude international investment agreements. This collection, compiled by award-winning scholar Professor Julien Chaisse, explores the three distinct tracks of China's investment policy and strategy: bilateral agreements including those with the US and the EU; regional agreements including the Free Trade Area of the Asia Pacific; and global initiatives, spear-headed by China's presidency of the G20 and its 'Belt and Road initiative'. The book's overarching topic is whether these three tracks compete with each other, or whether they complement one another - a question of profound importance for the country's political and economic future and world investment governance.
73 This informal international cartel , however , is far from watertight . Although the Koreans have pledged to cooperate with the Japanese and Europeans , there is little that can be done if the Koreans decide to defy the rest of the ...
Author: Robert M. Uriu
Publisher: Cornell University Press
Category: Endüsri politikası- Japonya
Questions the widespread assertion that Japanese government bureaucrats weed declining industries out of the market by adjusting economic policies, and are effectively insulated from political pressure for protecting those interests. Finds indeed that players from industry and labor in fact have a great deal of influence in policy making. Annotation copyright by Book News, Inc., Portland, OR
Author: Dr. Jagadish Biradar Publish On: 2020-07-01
In a country, such as Korea, for instance, the cartel is, thus, regarded as the public enemy number one in the market economy. The Korea Fair Trade Commission(KFTC) undertakes strict actions against cartels. Cartels regulations is ...
Author: Dr. Jagadish Biradar
Publisher: Ashok Yakkaldevi
Managerial Economics: Meaning, Nature, Scope. & Significance, Uses of Managerial Economics, Objectives and alternative hypothesis of the firm – Theories of firm-Baumol’s Model and Agency theory- Law of Demand, Exceptions to the Law of Demand, Elasticity of Demand- Price, Income, Cross and Advertising Elasticities, Uses of Elasticity of Demand for Decision Making, - Demand Forecasting: Meaning and Significance. Problems on Elasticity of Demand.
on cartel members to act before their own employees do. For the same reason, the new tool could also help ... A Stephan, 'Is the Korean Innovation of Individual Informant Rewards a Viable Cartel Detection Tool?', CCP Working Paper 14-3, ...
Author: Helene Andersson
Publisher: Bloomsbury Publishing
This book examines the legislative patchwork surrounding access to the European Commission's cartel case files. Recent legislative changes have increased the value of the files and have also highlighted the inherent tension between a number of competing interests affecting their accessibility. The Commission is undoubtedly caught between a rock and a hard place, charged with the task to ensure due process, transparency and effectiveness while at the same time promoting both public and private enforcement of the EU competition rules. The author considers how best to ensure a proper balance between the legitimate, but often diverging interests of parties, third parties and national competition authorities in these cases. The book provides a unique and comprehensive presentation of the EU legislation and case law surrounding access to the Commission's cartel case files. The author examines the question of accessibility from three different perspectives: that of the parties under investigation, cartel victims, and national competition authorities. The author also considers the EU leniency system and whether any legislative changes could make the attractiveness of the system less dependent on the possibilities of cartel victims to access the evidence contained in the Commission's case files.
General General that cartel arrangements function as ment and the White House changed the Fisher commanded the 28th ... When the Korean and often control , American export and inthe lead in this important area in world war broke out he ...
Author: United States. Congress
The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
Kurt Eichenwald, The Informant104 The Cartel involved five companies – the American company Archer Daniels Midland (ADM), two from Japan, Ajinomoto and Kyowa Hakko Kogyo, and two from Korea, Miwon (later renamed and hereinafter referred ...
Author: Christopher Harding
Category: Social Science
Anti-competitive business cartels, engaging in practices such as price fixing, market sharing, bid rigging and restrictions on output, are now subject to strong official censure and rigorous legal control in a large number of jurisdictions across the world. The longstanding condemnation under the US Sherman Act of 1890 has been taken up (although in a rather different form) during the last thirty years in the EC/EU and in European national jurisdictions in particular, but also in a range of countries outside North America and Europe. Legal control has not only extended geographically but has intensified, as a number of jurisdictions have moved beyond administrative regulation and penalties to embrace enforcement through civil liability and (most significantly in terms of policy and rhetoric) the methods of criminal law. It is therefore timely to consider critically this development of legal control and assess its achievement to date and its future prospects. But such an exercise requires an understanding of the reasons and need for such regulation, based on a clear appreciation of the nature and extent of the economic and social malaise which is its subject. What, more exactly, are such business cartels, why do they come into existence and persist, why are they regarded as being so bad, and what are the objectives within this increasingly complex and multi-level phenomenon of legal control? By seeking to answer such fundamental questions, this book sets a research agenda for a pathology, aetiology and criminology of business cartels, and probes more accurately their nature, operation, endurance and perceived delinquency.