How far does the Monopoly Regulation and Fair Trade Act apply?

Hello. Let me explain the Monopoly Regulation and Fair Trade Act.

If your company is, for example, a market dominant operator that dominates the entire domestic hat-related market or unfairly exploits its position in transactions to enter contracts, this could be a problem.

Under the Monopoly Regulation and Fair Trade Act, if it is judged that market order may be harmed, you may receive corrective orders from the Fair Trade Commission.

However, the Fair Trade Commission does not arbitrarily judge this; it comprehensively considers market share, the existence and degree of entry barriers, and the relative size of competing operators.

In addition, corrective orders may also be received in cases where the scope of customers' choice of other operators is restricted by exploiting a markedly superior position as a contract party.

If you fail to properly comply with such corrective measure orders from the Fair Trade Commission, you may face imprisonment of up to 2 years or a fine of up to 100 million won.

Therefore, if you need detailed review and judgment regarding the Monopoly Regulation and Fair Trade Act, we recommend seeking advice and help from a specialist attorney.