Antitrust Law in China, Korea and Vietnam

Following China's entry into the WTO in September 2001, it has been keen to establish itself among trading parties as a market economy. In recent years it has become one of the largest trading nations in the world, and is a source of substantial inward investment. In recognition of these developments, the government has undertaken a major overhaul and modernisation of its competition law, superseding the outdated and disparate provisions previously in place, with new legislation in 2007. China's near neighbours, Vietnam and South Korea, likewise have vibrant economies and have had strong trading relationships with the west for many years. This book is the first to cover the practical implications of the developments in competition law in these countries. It is aimed at practising lawyers and company advisors, giving a clear description of the new antitrust law in China, the established antitrust law in Taiwan and Korea, and the underdeveloped law in Vietnam. It also considers developments in Hong Kong, which is in the process of introducing a general law of antitrust. The first part of the book gives a concise introduction to antitrust laws and policies in the jurisdictions covered, as well as an introduction to standards in antitrust law for those new to the area. China, Taiwan, Korea and Vietnam each have five chapters devoted to discussion of the regime in general, its institutional shape, the substantive laws relating to agreements, dominant or monopoly firm conduct, merger control and procedures. The relevant legislation is explained and the principles clarified by references to guidelines, practice and relevant decisions and cases. In the case of Hong Kong a single chapter discusses the proposals brought forward by the legislature. Particular attention is paid to the extent to which antitrust laws in each jurisdiction may be applied to parties who are not citizens in those jurisdictions. This book is invaluable to lawyers advising clients engaging in international trade and commerce with and within these territories, and besides giving a clear explanation of the position of the law, it also contains translations of the core relevant legislation for each of the jurisdictions. Academics specialising in international competition law will find this a concise and informative text for consultation.

PART ONE. 1.1. Introduction. Antitrust Law in China. Antitrust Law in Hong Kong. Antitrust Law in Taiwan. Antitrust Law in Korea. Antitrust Law in Vietnam. 1.2. Standards in Antitrust Law. Introduction. The Control of Anti-Competitive Agreements. Monopolisation and Abuse of Dominant Position. Merger Control. Application of Economic Principles and Evidence. International Cooperation. PART TWO. 2.1. The Chinese Antitrust Law Regime. Introduction. The Anti-Monopoly Law. The Institutional Structure. General Exemptions. Territorial Application. International Cooperation and Agreements. Pre-2007 Legislation. 2.2. China Agreements. Introduction. Horizontal Agreements. Vertical Agreements. Trade Associations. Exemptions. Penalties. 2.3. China Monopoly and Abuse of Dominance. Introduction. The Assessment of Dominance. Abuse of Dominant Position. Abuse of Administrative Power. 2.4. China Merger Control. Introduction. Jurisdiction. Procedures. The Substantive Test. Efficiencies and the Failing Firm Defence. Remedies and Penalties. 2.5. China Procedure. Introduction. Investigations by the AMEA. Complaints. Final Decisions. Penalties. Appeals. Third Party Rights. PART THREE. 3.1. Antitrust in Hong Kong. Introduction. The Proposals. PART FOUR. 4.1. The Taiwan Antitrust Law Regime. Introduction. The Fair Trade Commission. General Exemptions. Territorial Application. International Cooperation and Agreements. 4.2. Taiwan Agreements. Introduction. Unfair Competition as it Relates to Horizontal and Vertical Agreements. Penalties for Breach. 4.3. Taiwan Monopoly and Abuse of Dominance. Introduction. 4.4. Taiwan Merger Control. Introduction. Jurisdiction. Procedures. Application of the Substantive Test. Remedies and Penalties. 4.5. Taiwan Procedure. Introduction. Investigations. Hearings and Access to File. Corrective Measures and Penalties. Appeals. Third Party Rights and Damages. PART FIVE. 5.1. The Korean Antitrust Law Regime. Introduction. The Fair Trade Commission. General Exemptions. Territorial Application. International Cooperation and Agreements. 5.2. Korea Agreements. Introduction. Chapter 4, MRFTA - 'Improper Cartels' (Horizontal Agreements). Chapter 6, MRFTA - Enterprisers' Organizations (Trade Associations). Chapter 7, MRFTA - Resale Price Maintenance. Chapter 8, MRFTA - International Contracts. Vertical Agreements. Penalties for Breach. Franchise Agreements. 5.3. Korea Monopoly and Abuse of Dominance. Introduction. Abuse of Dominant Position. Unfair Trade Practices. 5.4. Korea Mergers. Introduction. Jurisdiction. Procedures. Application of the Substantive Test. Remedies. 5.5. Korea Procedure. Introduction. Investigations. Hearings, Access to File and Secrecy. Corrective Measures and Penalties. Appeals. Damages. Arbitration. PART SIX. 6.1. The Vietnamese Antitrust Law Regime. Introduction. Institutional Arrangements. General Exemptions. Acts of the State. Territorial Application. International Cooperation and Agreements.

Mark Furse is a Professor of Competition Law and Policy at the University of Glasgow, and is an Adjunct Professor at the South West University of Political Science and Law, Chongqing, China. He has studied and worked with antitrust law for nearly 25 years, and is the author of a number of books on antitrust in Europe. He has extensive links with the jurisdictions under discussion in this book, and has taught and worked widely in China, Hong Kong and Korea.

This book is the first in English to cover the practical implications of the recent developments in antitrust (competition) law in China,Taiwan, Hong Kong, Korea and Vietnam. It is invaluable to lawyers and advisers with clients operating in these regimes.