SOUTH KOREA Law and Practice Contributed by: John H Choi, Han Soon Choi, Changhun Lee and Seungjun Woo, Shin & Kim
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 addition, the National Assembly of South Korea is once again deliberating the introduction 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 cellular net - work. 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.
13. Looking Forward 13.1 Legislative Trends and Other Developments
Recently, the KFTC has taken a stringent approach to cartel enforcement, uncovering a series of major cartel cases – including those involving the flour and paper industries – and imposing administrative fines amounting to hundreds of billions of Korean won. As a result, companies should be prepared for a significant increase in follow-on civil damages actions brought forth based on the KFTC’s decisions.
168 A NTITRUST LI T IGATI O N 2026
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