SMEs Antitrust Policy in Korea

Seonghoon Jeon ()
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Seonghoon Jeon: Sogang University

Chapter Chapter 3 in Antitrust Policy in Korea, 2025, pp 67-119 from Springer

Abstract: Abstract This chapter explores the growing polarization within the Korean business landscape, emphasizing the significant disparities between large corporations and small and medium-sized enterprises (SMEs). It then examines the distinctive features of Korea’s SME-oriented antitrust policy, which diverges in important ways from conventional models in other jurisdictions. A central focus is the Monopoly Regulation and Fair Trade Act (MRFTA), which defines and regulates unfair business practices. The chapter also analyzes four specialized statutes designed to address unfair practices in subcontracting, large-scale retail, franchising, and agency relationships between dominant firms and SMEs. Key economic issues are discussed, including the dual impacts of vertical restraints, the justification for regulating abuses of superior bargaining positions, the economic rationale behind the specialized laws, and concerns related to holdup and reverse holdup. The chapter concludes with an overview of landmark cases involving unfair trade practices in Korea, including those related to Hyundai Oil Bank, TaylorMade/Callaway Golf Korea, Oil Refinery Companies, Naver/Daum, Delivery Hero Korea, and Naver-Video Contents.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-95-0632-3_3

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DOI: 10.1007/978-981-95-0632-3_3

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