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Monopoly Regulation and Fair Trade Act — Article 120-2 (Dissemination of fair trade compliance culture)

독점규제 및 공정거래에 관한 법률 제120조의2

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.

(1) The Fair Trade Commission may adopt and implement policy measures to disseminate a fair trade compliance culture in an effort to promote competition.

(2) With respect to a business entity that operates an internal compliance program to autonomously comply with the statutes and regulations under the jurisdiction of the Fair Trade Commission (hereinafter referred to as "fair trade compliance program"), the Commission may conduct an evaluation of the operational status of such program (hereinafter referred to as "evaluation of fair trade compliance").

(3) A business entity that intends to undergo an evaluation of fair trade compliance shall file an application with the Fair Trade Commission, as prescribed by Presidential Decree.

(4) In order to invigorate fair trade compliance programs, the Fair Trade Commission may take corrective measures, reduce or exempt penalty surcharges, give a prize, or provide support to business entities that undergo an evaluation of fair trade compliance, based on the results of evaluation, etc., as prescribed by Presidential Decree.

(5) The Fair Trade Commission may require business entities that apply for evaluation of fair trade compliance to bear expenses incurred in conducting such evaluation, as prescribed by Presidential Decree.

(6) Matters necessary for the standards and procedures, etc. for evaluation of fair trade compliance under paragraphs (1) through (5) shall be prescribed by Presidential Decree.[This Article Added on Jun. 20, 2023]

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