S. Korea Criminalizes Antitrust Probe Interference

Law360, New York (March 1, 2012, 6:19 PM EST) -- South Korea's legislature on Monday passed several amendments to the country's competition law, including criminalizing some types of interference with antitrust investigations and setting a 30-day deadline for post-closing merger reviews.

The measures, which are set to take effect three months after their passage in the country's National Assembly, also include some changes to the statute of limitations for the Korean Fair Trade Commission to investigate anti-competitive conduct and raise the maximum penalties for trade associations caught up in cartel probes.

Though cartel participants have always...
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