Fair Trade Commission Activates Online Reporting and Review of Corporate Mergers

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Korea Fair Trade Commission (KFTC) announced on the 13th that it has recently prepared measures to activate online corporate merger notifications and improve review efficiency.

Among corporate mergers, simplified notification targets such as ▲ mergers between related parties ▲ holding less than one-third of executive positions ▲ establishment of management participation-type private equity funds (PEF), which are presumed to have no competition restrictions, can be reported online, but due to system deficiencies and other reasons, they have not been utilized smoothly. Accordingly, both notifying companies and review authorities face inefficiencies such as increased review periods and unnecessary paperwork.

Therefore, the KFTC plans to improve the system by fixing errors, automatically issuing notification receipts, submitting correction materials through 'Munseo24', and linking notification contents with review reports.

A KFTC official stated, "Through this improvement of the corporate merger notification and review system, the convenience of corporate merger notifications will be enhanced, and the efficiency of corporate merger reviews will also improve."

This content was produced with the assistance of AI translation services.