Jin & Kim, PLC | Legal Blog

Short AnswerCompanies should stay calm, cooperate appropriately, and quickly identify the legal basis for the raid.In Korea, a “dawn raid” may refer to different types of government action.It may involve:A criminal search and seizure by prosecutors or policeAn on-site investigation by a regulatory authorityAn inspection by an agency such as the Korea Fair Trade Commission (KFTC), Personal Inform..

Short AnswerForeign companies doing business in Korea should understand that Korean competition law may apply even if the company is incorporated overseas.Under the Korean Monopoly Regulation and Fair Trade Act (MRFTA), conduct outside Korea may still be regulated if it affects the Korean market.For foreign companies, competition law issues commonly arise in ordinary commercial activities, inclu..