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Laws › Monopoly Regulation and Fair Trade Act › CHAPTER IX ESTABLISHMENT OF KOREA FAIR TRADE MEDIATION AGENCY AND DISPUTE MEDIATION

Monopoly Regulation and Fair Trade Act — Article 74 (Meetings of Council)

독점규제 및 공정거래에 관한 법률 제74조

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 chairperson of the Council shall convene and preside over meetings of the Council.

(2) A majority of the members of the Council shall constitute a quorum, and any resolution thereof shall require the concurring vote of a majority of those present.

(3) Where the chairperson of the Council is unable to perform his or her duties in extenuating circumstances, a member of the Council designated by the chairperson of the Fair Trade Commission shall act on behalf of him or her.

(4) Business entities that are the parties to a dispute to be mediated (hereinafter referred to as "disputing parties") may attend a meeting of the Council to present their opinion.

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