JIPYONG LLC

A business combination under the Monopoly Regulation and Fair Trade Act (the “Fair Trade Act”) means that two or more business entities combine their capital, manpower, and organization by acquiring and owning shares, concurrently holding officers’ position, merging, transferring business, or participating in the incorporation of a new company. In case a business combination meets certain thresholds, a report on the details of the business combination must be submitted to the KFTC before or after the closing of the transaction. The Fair Trade Act, in principle, prohibits any business combinations that are found to be restrictive of competition. It may, however, allow business combinations that are found to partially restrict competition, but possible corrective measures may be imposed.

Jipyong’s Antitrust & Competition Group analyzes and applies all relevant KFTC decisions and case precedent to assess whether a business combination falls within the scope of a reportable business combination or a competitive-restrictive business combination, and to provide reliable and practical advice to our clients. In particular, the globalization of the economy has led to frequent situations where merger notifications must be filed simultaneously with the competition authorities of multiple jurisdictions. Our Antitrust & Competition Group attorneys work with our overseas partner law firms to seamlessly assess and, when necessary, to file such multi-jurisdictional merger notifications.