The Recent Enforcement of Competition Law Damages Actions in the European Union
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EU competition law has played a pivotal role for the market integration of the EU because it eliminates private trade barriers between Member States. In particular, the EU has a long history of implementing competition law, while its competition policy has focused on public enforcement rather than private litigation, which generates the concerns about unbalanced development of the implementation of law. To solve this problem, the EU has recently provided a Directive of competition law damages actions, which is regarded as a revolutionary legal framework of competition litigation for private parties, thereby to offer incentives to bring a case against anti-competitive practices. Furthermore, in 2015 the Court of Justice of the European Union issued a ground-breaking ruling on a case of cartel damages, which was important for further development of private litigations in the EU. Therefore, it is meaningful to discuss the recent development of EU competition law and policy on damages action as it can offer an idea for legal techniques to Korean competition policymakers. This article aims to introduce the EU competition law on damages actions and compare it with those in other jurisdictions. This article, thus, provides an initial step of comparative analysis on damages actions in competition laws, focusing on the EU case, and this will also offer a new approach to damages actions in the Korean competition regime.
Abstract
EU competition law has played a pivotal role for the market integration of the EU because it eliminates private trade barriers between Member States. In particular, the EU has a long history of implementing competition law, while its competition policy has focused on public enforcement rather than private litigation, which generates the concerns about unbalanced development of the implementation of law. To solve this problem, the EU has recently provided a Directive of competition law damages actions, which is regarded as a revolutionary legal framework of competition litigation for private parties, thereby to offer incentives to bring a case against anti-competitive practices. Furthermore, in 2015 the Court of Justice of the European Union issued a ground-breaking ruling on a case of cartel damages, which was important for further development of private litigations in the EU. Therefore, it is meaningful to discuss the recent development of EU competition law and policy on damages action as it can offer an idea for legal techniques to Korean competition policymakers. This article aims to introduce the EU competition law on damages actions and compare it with those in other jurisdictions. This article, thus, provides an initial step of comparative analysis on damages actions in competition laws, focusing on the EU case, and this will also offer a new approach to damages actions in the Korean competition regime.
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