Hence, the petitioner trade association had to act after independently deciding its legality in light of the MRFT Act....
Article 19 paragraph I of the MRFT Act enumerates the concerted acts that are prohibited as "unduly restricting competition," including acts that:
In order to alleviate the evidentiary difficulties, an earlier amendment of the MRFT Act adopted a presumption clause.
The MRFT Act's cartel provision prohibits "improper concerted acts," which are defined as "unduly or improperly restricting competition." Court decisions, as well as the statutory language, do not mention whether per se illegality or rule of reason analysis applies to cartels.
A system of authorizing certain concerted acts is provided in article 19, paragraph 2 of the MRFT Act.
The other view considers that a cartel is not improper when the anticompetitive impact is relatively small or negligible and contends that the MRFT Act outlaws only those concerted acts organized by enterprises with significant market power, i.e., whose anticompetitive effect is considerable.
A complaint filed by the KFTC is the prerequisite for the indictment (40) for the major MRFT Act violations.
The MRFT Act uses the term unfair business practices for the chapter that deals with most types of vertical restraints.
Types of unfair business practices regulated by the MRFT Act may be classified into two groups.
Nevertheless, surpassing the role of "pure" competition laws, the MRFT Act has assumed a role of preserving transactional fairness through allowing small enterprises the freedom to exercise their business judgment.
In order for business conduct to be condemned as an unfair business practice under the statute (i) it must fall within the categories set forth in article 23, paragraph 1 of the MRFT Act, (ii) it must tend to be detrimental to fair trade, and (iii) the specific conduct must be set forth in a list of unfair business practices set out in the MRFT Act Enforcement Decree.
The last category of unfair business practices was introduced in the 1996 amendment to the MRFT Act.