1) Is a merger control regulation in force?

Yes. South Korea has an established merger control regime in force under its primary competition statute, the Monopoly Regulation and Fair Trade Act (MRFTA).

2) Which authorities enforce the merger control regulation?

The Korea Fair Trade Commission (KFTC) is the sole agency responsible for enforcing merger control in Korea. As an independent administrative body, the KFTC administers and enforces the MRFTA and related competition regulations.

KFTC decisions can be appealed to the Seoul High Court, whose decisions can be further appealed to the Supreme Court.

3) Relevant regulations and guidelines with links:

Merger control in Korea is governed primarily by the MRFTA and its Enforcement Decree. In addition, the KFTC has issued regulations and guidelines that detail the procedures and standards applicable to merger filings and reviews. The key laws and guidelines are set out below:

4) Does general competition regulation apply to mergers or ancillary restrictions?

Ancillary agreements, such as non-compete clauses and licensing arrangements, are evaluated independently under applicable MRFTA provisions, including those addressing unfair trade practices and collusive conduct. Although the KFTC may consider such ancillary restrictions during its merger review, clearance does not imply blanket approval of these arrangements. Accordingly, in principle, the KFTC retains authority to investigate these restrictions separately following clearance and may impose sanctions if warranted. 

5) May an authority order a split-up of a business irrespective of a merger?

No.

6) Other authorities that also require merger filing or may prohibit transaction
(Note that this may not be an exhaustive list and that industry-specific legislation should always be considered. Furthermore, a merger will often require change of registrations with – but not approval from – the companies register, land register and authorities that have issued permits for the activities of the merging parties.)

In certain cases, merging parties are required to make a filing to administrative agencies in addition to the filing to the KFTC. In some cases, a separate merger notification to the KFTC is not required if another administrative agency has already consulted the KFTC on the potential competitive effects of the proposed transaction pursuant to other applicable laws.

Financial businesses:

Under the Act on Structural Improvement of the Financial Industry, the Financial Services Commission (FSC) must consult with the KFTC regarding anticompetitive effects when reviewing approval applications submitted by financial companies acquiring 20% or more of shares in another company. Also, under the Financial Holding Companies Act, the FSC must similarly consult with the KFTC during the review of applications submitted by financial holding companies to incorporate subsidiaries.

Facilities-based telecommunications business:

Under the Telecommunications Business Act, certain mergers, divisions, or acquisitions involving facilities-based telecommunications business operators require prior authorization from the Minister of Science and ICT. During this approval process, the Minister must consult with the KFTC regarding any substantial restriction of competition.

Foreign investment control

Regulations

Apart from MRFTA, foreign acquisitions of Korean companies are subject to the Foreign Investment Promotion Act (FIPA), which is Korea’s foreign direct investment screening regime. The FIPA and its Enforcement Decree and Regulation form the legal backbone of FDI regulation.

Transactions Caught – Definition of Foreign Investment:

Under the FIPA, the foreign investment includes, among other things:

1. Acquisition by a foreign investor of 10% or more of the voting shares in a Korean corporation, with an investment amount of at least KRW 100 million;
2. Loans with a maturity of five years or longer provided by a foreign investor (or related entities) to a foreign-invested company; and
3. Contributions by a foreign investor to qualified non-profit corporations in Korea, amounting to at least KRW 50 million and representing at least 10% of the total contributions.

FIPA itself does not blacklist particular industries from its scope.

Foreign investor

The term “foreign investor” means a foreigner who holds shares or equity interests or has made a contribution under the FIPA.

Here, the term “foreigner” means:

1. an individual holding foreign nationality (i.e., not a Korean national);
2. a corporation established under foreign law; or
3. an international economic cooperation organization, including agencies conducting foreign economic cooperation on behalf of foreign governments, international organizations engaged in development finance such as the International Bank for Reconstruction and Development (IBRD), and other international organizations engaged in foreign investment activities.

Thresholds and Triggers:

Under the FIPA, a foreign investor who intends to make a foreign investment as defined above is required to report such investment to the Minister of Trade, Industry and Resources (MOTIR). For the applicable thresholds, please refer to the definition of foreign investment provided above.

Also, any change to the reported matters – such as the foreign investment ratio, the name or nationality of the foreign investor, the transferor of shares, or the amount and conditions of contributions – must be reported to the MOTIR.

Notification Forms

Notification forms and required documentation are provided as attachments in the FIPA Enforcement Regulation. No statutory filing fees apply.

Filing fees

There is no filing fee.

Assessment

Foreign investment in Korea is, in principle, permitted without restriction unless otherwise provided by law. Restrictions apply only where the investment:

1. Poses a threat to national security or public order;
2. Adversely affects public health, sanitation, or environmental protection, or is contrary to public morals; or
3. Violates Korean law.

An investment may be deemed a national security threat when the MOTIR determines that:

1. a foreign investor intends to acquire de facto control over the management of an existing Korean company through the acquisition of its shares; and
2. the investment is likely to result in any of the following:
   •   disruption to the production of defense industry materials;
   •   diversion of export-controlled goods or technologies for military use;
   •   disclosure of state secrets;
   •   serious interference with efforts to maintain international peace and security; or
   •   leakage of national core or strategic technologies.

In assessing whether a foreign investment poses a potential national security threat, the MOTIR considers the following factors:

1. Risk factors – the investor’s compliance record, ownership structure, foreign government ties, and adequacy of internal controls and cybersecurity;
2. Vulnerability factors – whether the target company holds defense materials, strategic goods, or core technologies, the significance of its products, alternative domestic supply, and cybersecurity safeguards; and
3. National security impact – the investment’s potential effect on Korea’s defense capability, technology competitiveness, supply-chain resilience, and economic security.

In addition, if a foreign investor seeks to invest in a company engaged in the defense industry, prior approval from the MOTIR is required. MOTIR must consult with the Minister of National Defense, who must provide an opinion within ten days. If the Minister concludes that the relevant defense materials can be substituted by other domestic suppliers or that the investment will not materially affect national security, the approval should be granted.

Relevant authorities and procedures

The primary authority responsible for foreign direct investment (FDI) regulation in Korea is MOTIR, which sets overall FDI policy and conducts security reviews. However, MOTIR delegates the routine administration of filings to Invest KOREA (part of KOTRA) or designated foreign exchange banks.

Pre-closing Notification:
Foreign investors making a direct foreign investment—defined as (i) an investment of KRW 100 million or more; (ii) involving the acquisition of shares or equity interests (as opposed to assets); and (iii) targeting a Korean entity—must file a pre-closing notification with MOTIR or its designated agency.

Post-closing Voluntary Notification:
Foreign investors acquiring shares or equity interests of an existing foreign-invested company by purchase, inheritance, or gift, may voluntarily report the transaction within 60 days following the acquisition date.

The filing is accepted once all required documents are provided to a designated agency. The standard statutory review period is 15 days from the filing date, extendable once by an additional 15 days under exceptional circumstances.

Decisions and remedies

As a general rule, foreign investments that do not fall within the restricted categories under the FIPA are unrestricted and, upon reporting, are cleared as a matter of course.

Where restrictions apply—such as cases involving potential national security risks—the MOTIR conducts a review and may deny the investment, grant approval subject to conditions, or approve it without restriction.

7) Are any parts of the territory exempted or covered by particular regulation?

No.

8) Is merger filing mandatory or voluntary?

Merger filing is mandatory, provided the thresholds are met.

9) Is there a general definition of transactions subject to merger control?

Under the MRFTA, the following transactions constitute "business combinations" subject to merger control, provided they meet applicable jurisdictional thresholds:

• Share acquisition: (i) Acquisition of 20% or more (15% or more for Korean-listed companies) of the total voting shares of another company; or (ii) Additional acquisition of voting shares by a shareholder already holding 20% or more (15% or more for Korean-listed companies) resulting in the shareholder becoming the largest shareholder.
• Interlocking directorate: A director, officer, or employee of a company (with annual turnover or total assets over KRW 2 trillion) concurrently serving as a registered director of another company.
• Statutory merger: Merger of one company with another in which one corporation (the disappearing entity) is absorbed into another corporation (the surviving entity), resulting in the disappearing entity ceasing to exist as a separate legal entity, excluding mergers between a parent and subsidiary.
• Business transfer (i.e., asset acquisition): Acquisition of all or a substantial part of another company's business or fixed assets (defined as assets or business valued at KRW 10 billion or more, or constituting at least 10% of the company's total assets), excluding transfers between a parent and subsidiary.
• Formation of a new company (e.g., a joint venture).

10) Is "change of control" of a business required?

Under Korean merger control rules, a "change of control" is not relevant for determining the notifiability of a transaction (see topic 9). Filing is required for a business combination meeting the applicable thresholds, regardless of control. However, control becomes relevant at the substantive review stage. Transactions that do not result in an acquisition of control are generally presumed not to raise competition concerns and typically qualify for simplified review (in principle, a 15-day review after filing).

11) How is “control” defined?

As explained in topic 9 and 10 change of control is not relevant for determining the notifiability of a transaction. However, control is relevant at the substantive review stage.

When determining whether a transaction creates a controlling relationship, the KFTC applies the following standards:

Share acquisitions

For share acquisitions, sole control is presumed if the acquirer obtains 50% or more of the target’s voting shares. Even below the 50% threshold, sole control may still arise if the acquirer gains substantial influence over the target’s strategic management, considering factors such as shareholding percentage and dispersion, interlocking directorates, dependence on the acquirer for key supplies or funding, veto rights over budgets or strategic plans, and/or significant commercial or contractual relationships. Joint control occurs when two or more shareholders collectively possess substantial influence over the target’s strategic decisions, even without individually holding sole control. Relevant factors include balanced shareholdings, agreements to exercise voting rights jointly, reciprocal veto rights, rights to appoint key executives, and/or significant administrative powers necessary for conducting the business.

Interlocking directorates

In cases involving interlocking directorates, control arises if directors appointed by the acquirer (or its affiliates) comprise at least one-third of the target’s board, or if even a single interlocking director serves as representative director, thus enabling substantial managerial influence over the target’s business.

Joint ventures

When forming a joint venture, joint control is recognized if two or more parent companies jointly exercise substantial managerial influence over the newly established entity.

Affiliation

Additionally, under the MRFTA, if companies are deemed affiliates, control is presumed, and for purposes of calculating assets or turnover, their individual revenues are aggregated. Specifically, affiliation arises when a "same person" holds at least 30% of a company's voting shares as its largest shareholder, or otherwise exercises decisive managerial influence through the appointment of key executives, interlocking directorates, or significant commercial relationships.

12) Acquisition of a minority interest

Under the Korean merger control regime, a transaction does not need to result in a change of control to trigger a filing obligation. Therefore, an acquisition of a minority interest (e.g., an acquisition of 20% or more of the shares in the target or 15% or more for Korean-listed companies) may still require a merger filing if it qualifies as a "business combination" under the relevant rules and meets applicable filing thresholds, as further explained in topic 14.

13) Joint ventures/joint control – which transactions constitute mergers?

Under Korean merger control rules, transactions involving the “joint formation of a new company” are explicitly defined as a type of a reportable business combination. Therefore, establishing a joint venture (even a “green field” joint venture) triggers a merger filing obligation if the newly formed entity has its own legal identity—such as a distinct name, registered office, shareholders, and governance structure (e.g., a board of directors)—and meets the applicable filing thresholds described below.

The concept of "full-functionality," however, is not relevant under the Korean merger control regime, and there is no distinction between full-function and non-full-function joint ventures.

14) Which thresholds decide whether a merger notification must be filed?
(Unless explicitly stated otherwise, the thresholds described under one threshold category are not cumulative with those described under another category. Thus for instance if there is a market share threshold and a turnover threshold, it is sufficient to meet one of these, unless stated otherwise.)

a) Turnover thresholds

The following threshold (also known as the “Size of Party” test) taking into account assets as well as turnover applies. A merger filing is required if, during the most recently completed fiscal year:

1. One party had consolidated worldwide assets or turnover of KRW 300 billion or more; and
2. The other party had consolidated worldwide assets or turnover of KRW 30 billion or more.

Exemption: Transactions between foreign entities, or transactions involving a foreign target, is subject to a merger filing obligation only if each foreign entity involved generated annual turnover in Korea of at least KRW 30 billion during the most recently completed fiscal year. However, this local nexus requirement does not apply when the transaction involves establishing a new joint venture incorporated in Korea, even if all joint venture participants are foreign entities.

b) Market share thresholds

N/A

c) Value of transaction thresholds

Even in case where the target does not meet Size-of Party test, a merger filing is required if:

1. The transaction value is at least KRW 600 billion; and
2. The target meets the "Korean-activity" test—meaning that within the preceding three years, the target either (i) supplied goods or services to at least 1 million monthly users in Korea, or (ii) maintained R&D facilities or personnel in Korea and spent at least KRW 30 billion annually on Korean R&D.

d) Assets requirements

See about the Size-of-Party Test above.

e) Other

N/A

15) Special thresholds for particular businesses

N/A

16) Rules on calculation and geographical allocation of turnover

Turnover (or total assets) is calculated based on each undertaking’s most recently completed audited fiscal year. Specifically, "turnover" or "total assets" refers to the amounts reflected on the balance sheet as of the end of the fiscal year immediately preceding the fiscal year in which the merger occurs.

In general, turnover or total assets are calculated on a group-wide basis, encompassing the merging entity and all affiliates under common control (both domestic and foreign) that remain affiliated before and after the merger. However, turnover from intra-group sales is excluded to prevent double-counting. On the other hand, in business transfer transactions, the target’s size is calculated on a standalone basis, i.e., the worldwide assets or turnover of the specific entity whose business is being transferred without regard to its affiliates’ assets or turnover.

The KFTC has not established specific rules regarding the geographic allocation of turnover. In practice, turnover allocation typically follows the approach used in the parties’ audited financial statements, which classify turnover according to the jurisdiction in which sales are recognized for accounting purposes. With respect to Korean turnover, however, the KFTC's Merger Notification Guidelines clarify that Korean turnover includes not only direct sales into Korea, but also indirect sales that, due to prevailing trade practices or contractual terms, can be readily identified as ultimately destined for Korea.

Is the seller/seller's group turnover relevant in a standard acquisition of sole control?

No.

17) Special rules on calculation of turnover for particular businesses

Finance and insurance:

For companies engaged in financial or insurance businesses, total assets are calculated as the greater of:

1. total capital (defined as total assets minus liabilities) as shown on the balance sheet at the end of the immediately preceding fiscal year; or
2. capital stock as of the same date.

Turnover is calculated based on operating revenues reported in the income statement for the immediately preceding fiscal year.

18) Series of transactions that must be treated as one transaction

While each step is typically reviewed separately under Korean merger control, the KFTC may treat multiple steps as a single transaction if they form part of an integrated plan (e.g., immediate resale of shares or back-to-back mergers under one agreement). In such cases, only the final acquirer is required to file, provided the full transaction structure is disclosed.

For example, no separate filing is required for intermediary acquirers if shares are acquired and resold immediately or during the review period.

19) Temporary change of control

As explained in topic 10, change of control is not required to trigger a filing obligation in Korea.

Financial institutions acquiring forfeited shares while underwriting a public offering are exempt from filing if the shares are resold within six months (also see topic 18).

20) Special industries, owners or types of transactions

As explained in topic 6, no separate MRFTA filing is required where the KFTC has already assessed the transaction pursuant to a prior consultation request from another government agency under applicable sector-specific laws (i.e., the Financial Industry Restructuring Act, Financial Holding Companies Act, or Telecommunications Business Act).

21) Transactions involving only foreign businesses (foreign-to-foreign)

Foreign-to-foreign mergers are not exempt from Korea’s merger filing requirements. However, in addition to meeting the general jurisdictional thresholds, transactions involving either only two foreign parties or a foreign target trigger a filing obligation only if an additional local nexus requirement is satisfied. Specifically, each foreign party must have generated annual turnover in Korea of at least KRW 30 billion in the most recently completed fiscal year. However, the local nexus requirement does not apply when the transaction involves establishing a new joint venture incorporated in Korea, even if all joint venture participants are foreign entities.

22) No overlap of activities of the parties

Transactions involving no overlap between the merging parties’ business activities are not exempt from merger filing obligations. Even if the parties operate in entirely separate markets, a filing is required if jurisdictional thresholds are met.

However, conglomerate mergers involving parties whose products or services do not overlap and are not complementary typically qualify for a simplified review process (in principle, a 15-day review after filing), as these transactions are presumed not to raise competition concerns.

23) Other exemptions from notification duty even if thresholds ARE met?

Under the amended MRFTA, the following types of transactions are exempt from merger filing requirements: (i) investments in SMEs by certain venture capitals; (ii) investments in certain technology enterprises by certain investment vehicles; and (iii) establishing certain investment vehicles pursuant to the Capital Markets Act of Korea.

24) May a merging party file voluntarily even if the thresholds are not exceeded?

In principle, merger notifications are required only if jurisdictional thresholds are met. In practice, however, merging parties sometimes voluntarily file notifications with the KFTC when it is unclear whether these thresholds are satisfied, in order to obtain legal certainty.

25) May the competition authority request a merger notification or oppose a transaction even if thresholds are not met?

Yes. The KFTC may investigate or challenge a transaction that does not meet filing thresholds if it believes the transaction could substantially restrict competition.

26) Referral within the jurisdiction

Certain mergers, such as those involving financial institutions or facilities-based telecommunications businesses, require approval from sector-specific regulators that must consult with the KFTC on competition-related issues. As discussed under topic 6, if a sector regulator (e.g., the Financial Services Commission or the Minister of Science and ICT) conducts such a consultation with the KFTC regarding the competitive impact of a merger, a separate merger filing with the KFTC is not required.

27) Referral from another jurisdiction

N/A 

28) Referral to another jurisdiction

N/A 

29) May the merging parties request or oppose a referral decision?

N/A 

30) Stage of transaction when notification must be filed

Pre-Merger Notification: If at least one party to the reportable business combination is a large company (i.e., consolidated total assets or annual turnover of KRW 2 trillion or more), the merger notification must be filed after the execution of the transaction agreement but before closing, except for transactions involving interlocking directorates, which would be subject to post-closing notification.

Post-Merger Notification: For business combinations where no party meets the KRW 2 trillion threshold, notification remains mandatory if jurisdictional thresholds are met but can be submitted within 30 days after closing.

31) Pre-notification consultations

Parties may request a pre-notification consultation with the KFTC to clarify specific issues such as filing obligations, transaction structure, market definitions, documentation requirements, or substantive competition concerns. Pre-notification consultations provide a procedural mechanism to discuss general aspects of a proposed transaction, such as transaction structure or anticipated competition concerns, with the KFTC before formal submission.

Separately, the KFTC provides a voluntary “provisional” notification procedure, allowing parties to obtain a substantive assessment of potential competition concerns before formally submitting a merger notification. Under this procedure, even before executing a binding transaction agreement, parties may demonstrate their intent to enter into such an agreement and receive the KFTC's provisional competitive assessment. If a formal merger notification is subsequently filed after the KFTC completes its review of the provisional notification, the parties can generally expect to receive the KFTC’s final decision within 15 days.

32) Special rules on timing of notification in case of public takeover bids and acquisitions on stock exchanges

Public takeover bids are subject to post-merger notification.  There is no specific prohibition on exercising ownership or voting rights before clearance in the case of a post-merger filing.

33) Forms available for completing a notification

The filing forms are provided as attachments to the KFTC’s official Merger Notification Guidelines and vary depending on the specific type of business combination. Generally, the required information includes transaction structure (type of merger), transaction rationale, an overview of the merging parties, details regarding shareholders and affiliates, relevant market definitions, competitive assessment, and supporting documentation for each factual submission. However, the exact content and format required may differ based on the specific type and structure of the transaction.

Also, a simplified notification is available for certain transactions, including: transactions between affiliated companies; establishment of certain investment vehicles; and formal notifications following provisional notification previously approved by the KFTC.

34) Languages that may be applied in notifications and communication

Korean.

35) Documents that must be supplied with notification

The required documents are specified in the notification forms annexed to the KFTC’s Merger Notification Guidelines and vary depending on the type of business combination and the form used (simplified or full). Typically, the notifying party must attach the following documents:

• A copy of the executed transaction agreement (e.g., share purchase agreement)
• Certified copies of corporate registration for each party
• Audited financial statements for the most recently ended fiscal year for each party

36) Filing fees

Currently, there are no filing fees for merger notifications in Korea.

37) Is implementation of the merger before approval prohibited?

For transactions subject to pre-merger filing obligations, it is strictly prohibited to implement the business combination before obtaining KFTC clearance. Actions such as transferring share certificates, paying for shares, registering the merger, or paying consideration for the transfer of business operations constitute "implementation" of the merger and must not be carried out prior to KFTC approval.

38) May the parties get permission to implement before approval?

No. The MRFTA does not provide any mechanism for the parties to obtain permission to close or implement a reportable merger before clearance.

39) Due diligence and other preparatory steps

It is generally acceptable for merging parties to conduct due diligence and engage in preparatory planning before receiving KFTC approval, provided they do not actually implement the merger. However, parties must proceed with caution: until the merger is approved, they are expected to remain independent competitors and must be particularly careful regarding the sharing of competitively sensitive information.

40) Veto rights before closing and "Ordinary course of business" clauses

An "ordinary course of business" clause, which prohibits the target company from taking actions outside its normal business activities until closing, is generally permissible.

41) Implementation outside the jurisdiction before approval – "Carve out"

There are no specific rules on “carve out” of the Korean part of a transaction to avoid delaying implementation in the rest of the world pending approval in Korea.

It must be assessed on a case-by-case basis whether it is possible to carve out the Korean part of a transaction.

42) Consequences of implementing without approval/permission

If parties implement a merger without obtaining KFTC clearance in cases requiring pre-closing approval, they may be subject to an administrative fine of up to KRW 100 million.

43) Phases and deadlines

44) Tests or criteria applied when a merger is assessed

Under the MRFTA, the KFTC substantively reviews whether a proposed merger would substantially restrict competition in relevant market(s).

The KFTC applies market share-based presumptions: for example, horizontal mergers are presumed anticompetitive if the merging parties' combined share is at least 50%, or if the top three firms (including the merged entity) hold at least 75%, provided the merged entity is the largest and surpasses the second-largest competitor’s share by at least 25% of its own combined share.

Conversely, mergers falling within defined "safe harbors" are presumed lawful. Specifically, horizontal mergers are typically unchallenged if: (i) the market's Herfindahl–Hirschman Index (HHI) is below 1,200; (ii) the HHI is between 1,200 and 2,500, with an HHI increase below 250 points; or (iii) the HHI is 2,500 or higher, with an HHI increase below 150 points. Vertical or conglomerate mergers generally qualify for safe harbor treatment if each party’s market share is below 25% and the relevant market's HHI is less than 2,500.

Where no presumption clearly applies, the KFTC considers various competitive factors, including unilateral effects (e.g., ability to independently raise prices), coordinated effects (e.g., likelihood of tacit collusion), entry barriers, availability of competitive alternatives, countervailing buyer power, and merger-specific efficiencies.

45) May any non-competition issues be considered?

In principle, the KFTC’s merger review is based on competition grounds, and it does not factor in non-competitionconsiderations, such as national security or other public interest issues.

46) Special tests or criteria applicable for joint ventures

The assessment for joint ventures is the same as for other mergers.

47) Decisions and remedies/commitments available

Following its review, the KFTC may issue various types of decisions, accompanied by remedies or commitments to address any competitive concerns identified:

1. Unconditional Clearance: If the KFTC identifies no substantial competition concerns, or if initial concerns are resolved during the review, it approves the merger without conditions.
2. Conditional Clearance (with Remedies):
   If the KFTC finds competition concerns that can be effectively addressed through remedies, it may approve the transaction subject to specific commitments. Under the remedy proposal system introduced as of August 2024, merging parties may proactively propose remedies, which the KFTC may then negotiate before granting conditional clearance.

3.  

   Prohibition (Block): If a proposed merger substantially restricts competition and no suitable remedies are available, the KFTC may prohibit (block) the merger outright.

Remedies can be:

• Structural: Divestiture of businesses, assets, shares, or intellectual property.
• Behavioral: Restrictions on business conduct or operations, such as non-discrimination commitments, mandatory licensing, or limitations on business scope or practices.

According to the KFTC’s Merger Remedy Standard, the KFTC generally favors structural remedies due to their direct and lasting impact on competition concerns. Behavioral remedies are typically employed when structural remedies are impractical or need supplementary reinforcement.

48) How and when will details about the merger be published?

The KFTC typically does not publicly disclose details of a merger notification, except in certain high-profile cases. However, the KFTC may issue a press release summarizing its decision – particularly in cases involving conditional clearance – and will post the redacted final decision on its website. Such press releases typically include an overview of the transaction and the KFTC's assessment on the merger. Confidential information will be redacted from the published version of the full decision.

49) Access to the file for the merging parties and third parties

The merging parties:

Merging parties have no right to access KFTC documents or correspondence other than those expressly provided to them by the KFTC.

Third parties:

Third parties have no right of access.

50) Who can appeal and what may be appealed?

Parties subject to a KFTC decision may appeal the decision to the Seoul High Court or request reconsideration by the KFTC within 30 days of receiving the KFTC’s written decision. Appeals to the Seoul High Court follow standard litigation procedures, and parties dissatisfied with the High Court’s judgment may further appeal to the Supreme Court.