Korean Law in English
Laws › Monopoly Regulation and Fair Trade Act › CHAPTER XIII EXEMPTIONS

Monopoly Regulation and Fair Trade Act — Article 118 (Acts of specified associations)

독점규제 및 공정거래에 관한 법률 제118조

This English translation is based on the Korean text effective 2026-05-12. The Korean law has since been amended (current version effective 2026-10-02) — check the Korean original.

This Act shall not apply to any act done by an association established upon satisfying the following requirements (including a federation of associations); provided, this shall not apply to unfair trade practices or price increases by unfairly restricting competition:

1. The association shall aim at mutual aid of small business entities or consumers;

2. The association shall be established voluntarily, and its members may join and withdraw voluntarily;

3. Each member shall have an equal voting right;

4. Where profits are distributed to members, the limit thereof shall be determined by the articles of association.

‹ Article 117All articlesArticle 119 ›

Korean original (law.go.kr) · Get articles as JSON via API