A Study on the Bilateral Cooperation of Competition Law Enforcement under the Korea-EU FTA
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The competition chapter in the Korea-EU FTA ensures the effective cooperation between the two Parties and vigorous competition law enforcement in their markets. This provision is a founding framework for free and fair market competition and free trade. However, the existing divergence in wording and implementation of law can be a potential threat to localised harmonisation which is the essential requirement for cooperation in competition law enforcement. In order to establish an effective cooperation system, both regimes need to share the common objectives and legal techniques, thereby reducing divergence. In fact, the meaningful cooperation has gradually eliminated divergence between them, especially in international cartel cases. Therefore, the challenge we face after the FTA is how effectively both competition authorities implement their laws with a non-discriminatory basis. In addition, a further negotiation for establishing cooperative mechanisms in competition law enforcement should be made.
Abstract
The competition chapter in the Korea-EU FTA ensures the effective cooperation between the two Parties and vigorous competition law enforcement in their markets. This provision is a founding framework for free and fair market competition and free trade. However, the existing divergence in wording and implementation of law can be a potential threat to localised harmonisation which is the essential requirement for cooperation in competition law enforcement. In order to establish an effective cooperation system, both regimes need to share the common objectives and legal techniques, thereby reducing divergence. In fact, the meaningful cooperation has gradually eliminated divergence between them, especially in international cartel cases. Therefore, the challenge we face after the FTA is how effectively both competition authorities implement their laws with a non-discriminatory basis. In addition, a further negotiation for establishing cooperative mechanisms in competition law enforcement should be made.
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