New KFTC Department To Probe Foreign Cartelists

Law360, New York (March 3, 2008, 12:00 AM EST) -- To do battle against a rising number of international cartels in South Korea, the country's Fair Trade Commission said Monday that it would open a new department charged with investigating and prosecuting antitrust violations by foreign companies.

The KFTC said the new department, formed under its continuing reorganization program, would help enhance cooperation with other blocs, such as the United States, Japan and the European Union, to crack down on cross-border cartel activities.

Though the KFTC had staff monitoring international cartel activities before, this is the...
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