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KFTC Launches Optional Pre-Filing Consultation System and Operational Guidelines

2024.08.21.

On August 16, 2024, the Korea Fair Trade Commission (KFTC) officially launched its pre-filing consultation system for merger reviews by issuing the Operational Guidelines for Pre-filing Consultations (the "Operational Guidelines"), which detail the specific procedures and methods for conducting these consultations.


The objective of the pre-filing consultation system is to enable the KFTC to conduct more thorough and efficient reviews based on a solid understanding of the merging parties' status, relevant market conditions, and potential anticompetitive effects of reportable transactions.  The KFTC hopes that it will enhance the efficiency of merger reviews following formal filings and improve predictability of the timing of approvals, thereby increasing reporting convenience.


The following is an overview of the pre-filing consultation system, including its legal basis and the key elements of the Operational Guidelines.