On 9 December 2020, the amendment of the Monopoly Regulation and Fair Trade Act (hereinafter the “Fair Trade Act”) passed the plenary session of the National Assembly. This is the first full amendment in 40 years since its enactment, and it is expected to take effect one year after the date of the presidential promulgation.  
  Regulation of corporate groups is strengthened. (1) Expansion of targets subject to profit-taking regulations (2) New criteria for merger filing based on the transaction value (3) Stricter Equity Criteria for Holding Companies (4) Restriction on voting rights of public interest companies affiliated with corporate groups subject to public disclosure (5) Restriction of voting rights on cross-shareholding by corporate groups subject to mutual investment restrictions  
     
  In Young HWANG Poom JANG Byung Joo LEE Gee Hong Kim  
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