Korea High Court Upholds Foreign Sanctions

Law360, New York (May 10, 2006, 12:00 AM EDT) -- Korea’s top court this week upheld a lower court’s ruling against a Japanese firm for illegal price-fixing in a move that reinforces the ability of the nation's fair trade watchdog to take punitive action against foreign companies that violate antitrust laws.

In its ruling, the Supreme Court said the Korean Fair Trade Commission can exercise jurisdiction over companies which participate in illegal international cartels, even if they lack local operations, if their unfair schemes cause damages in the domestic market.

"The antitrust law does not limit...
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