Lee & Ko’s Antitrust and Competition Practice Group conducts mock dawn raid on multinational corporate group

Lee & Ko’s Antitrust and Competition Practice Group conducted a mock dawn raid and comprehensive antitrust risk assessment of a multinational corporate group (“Group A”) under the Monopoly Regulation and Fair Trade Act (“MRFTA”). 

During the mock dawn raid, Lee & Ko’s Antitrust and Competition Practice Group used the same methods and procedures as the Korea Fair Trade Commission (“KFTC”) in its investigations and offered additional solutions for deficiencies that were discovered during Group A’s response to the mock dawn raid.

In addition, Lee & Ko’s Antitrust and Competition Practice Group collected materials and conducted interviews with key executives and employees of Group A’s three affiliate companies. Using the information gathered during the mock dawn raid, Lee & Ko’s Antitrust and Competition Practice Group confirmed the compliance of the companies with the MRFTA and provided measures for improving compliance in necessary areas. 

The mock dawn raid conducted by Lee & Ko’s Antitrust and Competition Practice Group is invaluable as it helps to prevent executives and employees with limited knowledge and experience on the MRFTA from committing acts during a dawn raid that could be considered obstruction and providing guidance on cooperating with a KFTC investigation while protecting the right to defense. Group A utilized the mock dawn as an opportunity to check and strengthen compliance management in all areas of its business. 

Following the recent reorganization of the KFTC in separating its investigation and policy divisions, establishing proper procedures for responding to KFTC dawn raids is of the utmost importance as the investigative function of the KFTC has been strengthened through the reorganization and led to an increase in the number of dawn raids. 

Lee & Ko’s Antitrust and Competition Practice Group actively utilizes its extensive expertise in responding to large-scale dawn raids to ensure companies are prepared for dawn raids, and more importantly, thoroughly and comprehensively managing MRFTA related risks.