Abuse of Market Dominance in Korea: Competition Law in Korea

The Seoul Central District Court ruled earlier this year that Namyang Dairy Products Co. (“Namyang”) was in violation of the Monopoly Regulation and Fair Trade Act of Korea by abusing its market dominance and “unfairly taking advantage” of retailers. For more Antitrust/Competition Law articles please click on the labels noted Antitrust Law on the right. Namyang, a major Korean dairy company, was accused by retailers of, among other things, forcing retailers to purchase expired or soon to expire products and purchase unpopular products.  The Seoul Central District Court in 2014GaHab592238 ruled the company was in violation of Article 23 of the Monopoly Regulation and Fair Trade Act of Korea and awarded damages to the plaintiffs. Monopoly Regulation and Fair Trade Act of Korea Article 23(1), no. 4 prohibits a company or individual from: “Trading with a certain transacting partner by unfairly taking advantage of his/her position in trade.” The Court

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