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  • Fair Trade

    As the global economy has become more integrated, Korean companies have been entering foreign markets and foreign companies have been moving into the Korean market with increased frequency. This expansion of trade activity within Korea has also resulted in a dramatic increase in the number of investigations and disputes under the Monopoly Regulation and Fair Trade Act (the “MRFTA”), which was enacted to prevent the use of unfair trade practices by governing pricing tactics, “collusive” practices, business combinations and abuse of market dominance.

    To address the growing number of MRFTA and other trade-related actions, Lee International formed a Fair Trade Litigation Team. Our FTL Team is composed of a group of talented attorneys, including former judges, with significant experience handling trade-related disputes. These attorneys develop successful strategies to help resolve conflicts and disputes before government authorities (e.g., the Korean Fair Trade Commission, courts and the Korean Commercial Arbitration Board) and to win favorable outcomes for our clients.

    While dispute resolution is important, dispute avoidance is even more important and cost-effective. Recognizing this, Lee International also has established a Fair Trade Advising Team, under the able leadership of one of our attorneys who formerly served on the Board of Audit and Inspection of Korea. This Team advises clients on a wide variety of issues related to the MRFTA, and other trade laws regulating antitrust and competition, standard form contracts, subcontracting practices and fair advertising. Our professionals on the Fair Trade Advising Team provide advice on methods for conducting business operations within the confines of the MRFTA and other applicable laws. They also advise on other strategies for managing risk in order to avoid disputes and conflicts under the MRFTA.

     

    Services

    • Represent clients in front of the Fair Trade Commission from the investigation stage to final resolution.
    • Represent clients in administrative lawsuits.
    • Provide ongoing advice on laws including MRFTA, the Act on the Regulation of Terms and Conditions, the Act on Fair Labeling and Advertising, the Fair Transactions in Subcontracting Act and the Fair Transactions in Franchise Business Act.

     

    Representative Work

    • Advised an American language education company on strategies for resolving Fair Trade disputes and on how to structure transactions needed to implement its domestic franchise business.
    • Advised on Chinese and Korean laws with respect to anti-dumping and price-fixing issues connected with an agreement of the WTO.
    • Prepared and filed multiple applications for business consolidations stemming from M&A transactions, as well as public announcements of material matters of non-listed companies.
    • Advised on issues related to execution of numerous international agreements under the Monopoly Regulation and Fair Trade Act.
    • Advised a large number of domestic and foreign companies on issues related to potentially unfair intercompany transactions.
    • Advised a large number of domestic and foreign companies on issues related to resale price maintenance.

    Key Contacts

    Emma (Kyoung-Joo) Park Ghil-Won Jo Dong-Hwan Kim