SOUTH KOREA Law and Practice Contributed by: John H Choi, Han Soon Choi, Changhun Lee and Seungjun Woo, Shin & Kim
13. Looking Forward 13.1 Legislative Trends and Other Developments
A petition of appeal and final appeal must be filed within two weeks from receiving the original copy of the decision from the court. However, even where a petition of appeal is filed with the court, an appellant who had failed to state the grounds for the appeal in the petition of appeal must submit a brief stating the grounds for appeal within 40 days (with a one-time opportunity to request a one- month extension) of receiving the notice of receipt of the record of appeal. If the brief stating the grounds for appeal is not submitted within this period, the appel - late court must dismiss the appeal. The Court of Appeal will dismiss the appeal if it decides that the judgment of the first instance court is valid. If it decides that the judgment of the first instance court is wrong, it will reverse the judgment and rule on the case on its own. The procedure for final appeal at the third-instance court follows the same procedures. Antitrust Criminal Lawsuit In the case of an Antitrust Criminal Lawsuit, a party that objects to the judgment of the first instance court or the Court of Appeal must file a petition of appeal or final appeal within seven days from when the court gives the decision, and must submit the grounds for appeal within 20 days from when the party received the notice from the Court of Appeal or final appeal that the record of the lawsuit had been sent.
In the field of competition law, the National Assembly of South Korea is once again deliberating the intro - duction of a class action system. Although past efforts to enact class action legislation have repeatedly failed, the issue has re-emerged as a matter of public interest in the wake of recent incidents involving large-scale consumer harm – such as a major hacking incident affecting a leading telecommunications provider’s cel - lular network. If enacted, the new system is expected to trigger a sharp rise in competition-related damages lawsuits. Consumers would gain a more effective means of redress. Conversely, businesses would face increased pressure to manage not only KFTC enforcement risks, but also the growing threat of class actions.
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