Lee & Ko has one of Korea’s largest and most highly regarded antitrust and competition law practices, as continuously recognized by renowned international legal publications.

Members of the Antitrust & Competition Practice Group include antitrust and competition law attorneys licensed in Korea and other foreign jurisdictions, antitrust specialists (including accomplished in-house economists), former high-ranking Korea Fair Trade Commission (“KFTC”) officials and commissioners, prosecutors, and judges. We represent a diverse range of domestic and international clients in cases dealing with competition authorities in Korea and around the world, including the U.S. and the EU.

Our team includes the highest number of former KFTC lawyers and antitrust specialists of any law firm in Korea. Drawing on this unparalleled depth of experience, we provide client-focused solutions tailored to address a wide range of regulatory, civil, and criminal issues across all areas of antitrust and competition law.

We provide the following full range of services across all areas of antitrust and competition law.

主要业务方向

International Merger Review

The Monopoly Regulation and Fair Trade Act (“MRFTA”), Korea’s main competition law, prohibits certain M&A transactions that may have the effect of restricting competition, and KFTC approval must be obtained for transactions meeting statutory thresholds.

The Antitrust & Competition Practice Group has substantial experience in obtaining timely antitrust clearance for some of the largest domestic and global M&A transactions and works with clients through each and every step of the process, including transaction structuring, preparing and filing merger notifications, and negotiating remedies with the KFTC. Our team has expert economists with the ability to carry out in-depth analyses of the relevant markets and competition-restricting effects.

The Antitrust & Competition Practice Group also has vast experience in securing approvals from competition authorities in various jurisdictions around the world in diverse industries. Our experience and expertise facilitate effective collaboration with local counsel to ensure timely and cost-effective merger approval.

Cartel Investigations

The Antitrust & Competition Practice Group has in-depth knowledge and expertise in assisting clients with cartel investigations launched by domestic and foreign regulators and has a long and consistent track record of successfully defending clients accused of engaging in collusion.

The Antitrust & Competition Practice Group has substantial experience in coordinating and handling leniency applications worldwide. We work in close cooperation with local counsel and competition law authorities in many jurisdictions with active antitrust regimes and have successfully secured leniency applications for many Korean and foreign clients.

Horizontal and Vertical Agreements

Horizontal and vertical agreements among competitors or other businesses (e.g. joint venture agreements, joint development and cooperation agreements, licensing agreements, distribution agreements, supply agreements, patent dispute settlement agreements, etc.) can impact competition in the relevant market. It should be noted that even agreements between affiliates may be determined to violate competition laws. Thus, detailed review and analysis of the industry and facts surrounding each agreement is necessary to ensure compliance with the applicable laws.

The Antitrust & Competition Practice Group frequently advises corporate clients on the antitrust implications of horizontal and vertical agreements, based on its wealth of experience in various industries.

Abuse of Market Dominance

The MRFTA prohibits market dominant businesses from engaging in activities that may have the effect of restricting competition. The Antitrust & Competition Practice Group frequently advises some of the largest corporations from around the world regarding issues relating to abuse of market dominance. Our in-house team of highly accomplished economists conducts thorough and insightful analysis of the relevant market, enabling us to provide effective and well-rounded advice as to how the client’s market dominance is affecting competition and the potential ramifications thereof.

Unfair Trade Practices

Since the early days of the MRFTA, the Antitrust & Competition Practice Group has advised clients on a variety of horizontal and vertical commercial arrangements, including distribution agreements, joint ventures, franchising, e-commerce, related-party transactions, and pyramid schemes. We have assisted clients in ensuring that these arrangements are compliant with Korean competition law in prohibiting certain acts (discriminatory practices, unfair inducement of customers, resale price maintenance, etc.) that may undermine fair dealings in the market.

The Antitrust & Competition Practice Group has extensive knowledge and experience in handling issues related to unfair trade practices, and frequently advises clients on mitigating risks and identifying creative solutions to fit their business needs.

Standardized Contracts

The KFTC regulates standardized contracts to prevent businesses from imposing unreasonably unfavorable terms and conditions on consumers.

The Antitrust & Competition Practice Group has long-standing experience in advising both foreign multinational and domestic companies in various industries, to ensure that their standardized contracts are compliant with the law. Our team also has a successful track record of defending corporate clients against KFTC complaints and investigations of alleged unfair terms and conditions in standardized contracts.

Subcontracting

The KFTC has enacted a law strictly prohibiting large companies from engaging in unfair subcontracting practices (e.g. unilateral price decrease, unreasonable return of goods, etc.), against smaller suppliers of goods and services through the abuse of their superior bargaining position.

The Antitrust & Competition Practice Group has helped many large companies avoid subcontracting-related issues by reviewing and amending subcontracting agreements and have successfully defended clients in numerous cases involving alleged subcontracting law violations.

Compliance Programs

The KFTC actively encourages business entities to adopt internal compliance programs aimed at preventing MRFTA violations. The adoption of such programs can also result in additional benefits, including leniency in sanctions.

The Antitrust & Competition Practice Group has advised numerous companies across various industries with respect to the design, adaptation and evaluation of specially tailored compliance programs. With the support of the firm’s strong practice groups, including the Labor, Tax, Customs, Corporate / M&A, and IP teams, we are able to provide comprehensive compliance programs to our clients.

Sector-specific Regulation

Competition law-related issues such as abuse of market dominance arising in specialized sectors – including electronics, pharmaceuticals, banking, securities, insurance, telecommunications and broadcasting, among others – must be handled with professional knowledge and experience pertinent to each sector. The Antitrust & Competition Practice Group advises on sector-specific competition laws and regulations, with a top-notch team of attorneys recognized for their expertise in each sector.

Litigation (Civil/Criminal/Administrative)

Unfair trade practices and other competition-law related violations not only result in administrative fines and corrective orders, but also in criminal complaints filed by the KFTC and civil lawsuits for monetary damages filed by private plaintiffs.

Our antitrust litigation specialists consist of former judges and prosecutors, with superior expertise and experience in dealing with all types of antitrust litigation.

We have successfully handled various domestic and international cases involving allegations of unfair trade practices and other competition law related lawsuits, including follow-on damages.

Responding to KFTC Investigations

As dawn raids are frequently conducted by the KFTC, it is imperative for companies to understand how to respond promptly when a dawn raid occurs. The Antitrust & Competition Practice Group frequently advises corporate clients on how to coordinate a unified and efficient response to the KFTC’s actions/demands during dawn raids, through performing compliance audits and mock dawn raids. Our team has also assisted numerous companies by being present during dawn raids, to help guide clients and protect their rights.

Our team boasts the highest number of lawyers and antitrust specialists who were formerly employed by the KFTC. Our team members’ extensive experience as former high-ranking KFTC officials enable us to provide insightful and effective advice in responding to any KFTC action.

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代表性案例

International Merger Review

Obtained unconditional KFTC approval on behalf of Saudi Aramco for its acquisition of a stake in Hyundai Oilbank.
Obtained unconditional KFTC approval on behalf of Air Liquide for its acquisition of DIG Air Gases.
Represented an interested party in connection with Synopsys, Inc.'s acquisition of shares in ANSYS, Inc., successfully advocating to the KFTC an expansion of the scope of assets required to be divested.
Obtained unconditional KFTC approval of the Novozymes and Chr. Hansen merger on behalf of Novozymes.
Obtained unconditional approvals from competition authorities in Korea, the EU, China, Turkey, and Ukraine on behalf of LG Chem in connection with the establishment of a joint venture with Italian oil and gas company ENI.
Obtained expedited approvals from competition authorities in the U.S., Germany, and Vietnam on behalf of SK Innovation and other affiliated within the SK Group in connection with intergroup mergers.
Obtained unconditional KFTC approval on behalf of Novo holdings in connection with its acquisition of a joint controlling interest in Sylvan, a global leader in fungal biotechnology.
Obtained unconditional KFTC approval on behalf of Tapestry and Capri in connection with the proposed reverse triangular merger.
Obtained unconditional KFTC approval on behalf of the AURELIUS Group for its acquisition of shares in LSG Sky Chefs Korea.
Obtained unconditional KFTC approval on behalf of Nautilus Holdings USA Corp. with respect to its acquisition of GE Toshiba Silicones Asia Pacific Pte.,Ltd.
Obtained unconditional KFTC approval on behalf of Honeywell International Inc. with respect to its acquisition of Enref Holdings B.V.
Obtained unconditional KFTC approval on behalf of The Boeing Company with respect to its acquisition of Huneed Technologies.
Obtained unconditional KFTC approval on behalf of ERGO International AG with respect to its acquisition of Daum Direct Auto Insurance.
Represented Life Technologies in connection with the merger filing for the acquisition of Life Technologies by Thermo Fisher, valued at US$13.6 billion. This transaction was one of the largest acquisition deals in the year 2013.
Represented Lenovo Group Ltd., in connection with the merger filing for its acquisition of IBM’s x86 server business, valued at US$2.1 billion.
Represented Foster Wheeler AG (NASDAQ: FWLT) in connection with the merger filing for its proposed merger with AMEC, valued at £1.9 billion.
Represented Qatar’s sovereign investment fund in connection with its takeover of American Express Co.’s business travel division, valued at US$900 million.

Domestic Merger Review

Obtained conditional KFTC approval with minimal remedies on behalf of Korean OTT service providers.
Advised Korean Air in connection with the implementation of merger remedies imposed on Korean Air's acquisition of Asiana Airlines, and represented Korean Air in related KFTC proceedings.
Obtained unconditional KFTC approval on behalf of five companies, including Korea’s three major telecom companies, in connection with the establishment of a joint venture for the provision of personal credit rating services using non-financial information.
Obtained unconditional KFTC approval on behalf of Hanwha Group in connection with the acquisition of shares in HSD Engine.
Obtained unconditional KFTC approval on behalf of POSCO with respect to various business combinations.
Obtained unconditional KFTC approval on behalf of Korean Air with respect to its acquisition in S-Oil.
Obtained unconditional KFTC approval on behalf of Lotte Shopping with respect to its acquisition of Big-Mart.
Obtained KFTC approval on behalf of CJ O Shopping with respect to its acquisition of On Media. Represented Lotte Group in connection with the merger filing for its JV transaction with Nestlé S.A., in regards to the instant coffee market, with an initial investment of 50 billion KRW (US$46.4 million).

International Cartels

Represented a German automaker in a cartel related to technical specifications, resulting in a substantial reduction in administrative fines and a judgment finding no liability in related civil litigation at the court of first instance.
Represented a pharmaceutical company in an administrative lawsuit challenging KFTC sanctions arising from an alleged generic anticancer drug cartel, resulting in a partial annulment of the KFTC's disposition notwithstanding the submission of a leniency application by another pharmaceutical company.
Advised on an international cartel investigation related to the corporate bond issuance market in Europe.
Represented a global automotive parts manufacturer in a KFTC investigation into alleged bid-rigging in the procurement of automotive air vents, resulting in a substantial reduction in administrative fines.
Obtained a not-guilty ruling on behalf of foreign S-RAM manufacturers investigated by the KFTC. Represented LCD panel manufacturers in a global investigation into cartel activity.
Obtained substantial fine reductions on behalf of copying paper manufacturers investigated by the KFTC.
Represented air freight companies in a KFTC investigation into international fuel surcharges. Represented a data storage company as the lead counsel before competition authorities in various jurisdictions.
Representing a major international bank in connection with the KFTC’s investigation of alleged international cartel on LIBOR.
Representing an eminent global banking and financial services company in connection with the KFTC’s investigation of alleged international cartel on FX rate rigging.
Representing a multinational electrical equipment manufacturing company and its U.S. subsidiary, in connection with the KFTC’s investigation of the international auto parts cartel.
Representing a large foreign corporation in connection with KFTC’s investigation of the capacitor manufacturers’ cartel (currently also being investigated by competition law authorities in the U.S., EU, Japan, Taiwan, and China).

Domestic Cartels

Represented steelmakers in criminal proceedings arising from an alleged steel scrap cartel, resulting in their acquittals.
Represented insurance companies in criminal proceedings involving alleged bid-rigging in connection with insurance contracts procured by the Korea Land and Housing Corporation, resulting in their acquittal at both the court of first instance and on appeal.
Represented primary dealers in a KFTC investigation into alleged information exchange and bid-rigging in the Korean treasury bond market
Represented furniture manufacturers in a KFTC investigation into alleged bid-rigging in tenders for furniture contracts ordered by construction companies, resulting in a substantial reduction in administrative fines.
Obtained major fine reduction in a LPG cartel case that entailed the highest fine imposed in KFTC history.
Obtained major fine reduction on behalf of domestic airlines investigated by the KFTC for air fare collusion.
Obtained major fine reduction on behalf of five oil companies investigated by the KFTC for collusion on oil supplies to the military.
Obtained major fine reduction on behalf of five caustic soda manufacturers investigated by the KFTC.
Obtained fine withdrawal on behalf of seven bus transportation companies investigated by the KFTC.
Obtained fine withdrawal on behalf of twelve banks investigated by the KFTC for “giro” fee collusion. Represented numerous multinational and domestic companies in filing leniency applications.
Represented a domestic energy conglomerate and completely reversed KFTC’s decision to impose approximately USD$400 million in fines, despite leniency filings by another defendant.
Represented Dong-A Pharmaceutical, the largest pharmaceutical company in Korea, in the first “pay-for-delay” case brought by the KFTC and successfully appealed by obtaining an 80% reduction in fines for Dong-A.

Abuse of Market Dominance

Represented T-money in a case involving alleged abuse of market dominance, resulting in a finding of no violation by the KFTC.
Represented an interested party in a case involving Google's alleged abuse of market dominance in connection with its app market, including intervention on behalf of the KFTC in related damages litigation and administrative litigation to annul the KFTC's decision.
Represented an interested party in a case involving Qualcomm's alleged abuse of market dominance in connection with standard essential patents, successfully opposing Qualcomm's application for a stay of enforcement and intervening on behalf of the KFTC in related administrative litigation to annul the KFTC's decision.
Represented Samsung and Apple in a case involving alleged abuse of market dominance in connection with intellectual property rights, resulting in a finding of no violation by the KFTC.
Represented a movie theater chain in a case involving alleged abuse of market dominance, resulting in a finding of no violation by the KFTC.
Represented a client in a case involving alleged abuse of market dominance in the electronic commerce authentication market, resulting in closure of the case without remedial measures by the KFTC
Represented a domestic airline in a case involving alleged abuse of market dominance in connection with travel agency commission rates, resulting in a substantial reduction in administrative fines.
Represented a steel company in a case involving alleged abuse of market dominance against its distributors, resulting in a substantial reduction in administrative fines.
Represented an auto parts manufacturer in a case involving alleged abuse of market dominance against its dealerships, resulting in a substantial reduction in administrative fines.
Obtained closure of the KFTC’s investigation into the abuse of market dominance in the e-commercecertification market (no action taken by the KFTC).
Obtained a not-guilty ruling in the KFTC’s investigation into a major air line’s abuse of market dominance with respect to agency incentive scheme.
Obtained a major fine reduction in the KFTC’s investigation into a major steel company’s abuse of market dominance vis-à-vis logistics companies.
Obtained a major fine reduction in the KFTC’s investigation into a major auto company’s abuse of market dominance vis-à-vis auto parts agencies.
Obtained a not-guilty ruling in the KFTC’s investigation into a major electronic company’s abuse of market dominance with respect to price cuts.
Represented Samsung Electronics in regards to abuse of dominance charges brought by Apple at the KFTC, successfully obtaining a complete dismissal of all charges on behalf of the client in February 2014.

Unfair Trade Practices

Represented a global manufacturer of components for smart devices in a case involving alleged abuse of superior bargaining position against a leading smartphone and electronic device manufacturer, resulting in a decision by the Ministry of SMEs and Startups not to file a criminal complaint.
Represented a mobility platform operator in a case involving alleged abuse of superior bargaining position.
Represented an online food delivery platform app operator in a case involving alleged unlawful interference in business operations, from the investigation stage through the Supreme Court, resulting in acquittals at all instances.
Represented a global 3D printer manufacturer in a case involving alleged abuse of superior bargaining position, resulting in a substantial reduction in administrative fines and exemption from a criminal referral by the KFTC.
Represented an affiliate of the Mirae Asset business group in a case involving alleged unlawful support of affiliates in connection with a golf course, resulting in acquittals at both the court of first instance and on appeal.
Represented a smartphone and electronic device manufacturer in a case involving alleged unlawful support of affiliates and violations of the Act on Fair Labeling and Advertising in connection with Game Optimizing Service (GOS).
Represented an online real estate platform operator in a case seeking an injunction against database right infringement in connection with alleged exclusive dealing, resulting in a favorable ruling recognizing its database rights, with the court granting an injunction and order for the disposal of the infringing materials.
Obtained a major fine reduction on behalf of a major steel company in a case of abuse of bargaining power vis-à-vis steel sheet importers.
Obtained a major fine reduction on behalf of a major auto manufacturer investigated by the KFTC for conditional transactions involving auto parts agencies.
Obtained a fine withdrawal on behalf of a major conglomerate investigated by the KFTC for unfair support to its affiliates.
Obtained a not-guilty ruling on behalf of a major electronic company investigated by the KFTC for unfair support to its affiliates.

Exploitative Business Practices/Consumer Protection

Represented a distribution platform operator in a case involving alleged violations of the Act on the Consumer Protection in Electronic Commerce.
Represented a global franchisor in connection with the rehabilitation proceedings of a food and beverage franchise operator, including the formulation of an M&A strategy, restructuring of the franchise business, and comprehensive response to MRFTA-related issues.
Represented an auto parts manufacturer in a case involving the alleged misappropriation of technical data to a third party, resulting in exemption from criminal referral by the KFTC.
Obtained a not-guilty ruling in the KFTC’s investigation into a major electronics company’s alleged subcontracting violations against a cell phone parts supplier.
Obtained a major fine reduction on behalf of an auto parts company investigated by the KFTC for subcontracting violations.
Obtained a not-guilty ruling in the KFTC’s investigation into a major electronics company’s alleged subcontracting violations against a LCD parts supplier.
Successfully defended a KFTC investigation into mileage-related standardized contracts used by airlines.
Obtained a not-guilty ruling in the KFTC’s investigation into the unfairness of standardized contracts used by an open-market business operator.
Reviewed and amended various standardized contracts used by e-commerce businesses, web-search businesses, and other on-line businesses.

Regulatory Investigations & Compliance

Represented the Korean Bar Association and the Seoul Bar Association in a case involving prohibited acts by a business association, resulting in the annulment of the KFTC's decision.
Advised on a European Commission investigation under the Foreign Subsidies Regulation in connection with a bid for an overseas nuclear power plant construction project, resulting in a finding of no violation and the subsequent award of the construction contract.
Provided immediate on-site support and comprehensive assistance in responding to KFTC dawn raids.
Represented an electronics company and its executives in a case involving alleged obstruction of a KFTC investigation, resulting in a finding of no violation and the annulment of all penalty surcharge dispositions, and establishing a landmark precedent defining the scope and limits of the KFTC's authority to investigate digital data.
Advised a number of large conglomerates on the implementation and review of antirust compliance programs.
Advised a number of large conglomerates on mandatory public disclosures of large-scale interaffiliate transactions.