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Newsletter | April 2015, Issue 1
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Antitrust & Competition
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KFTC approves consent decree with SAP Korea
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On October 1, 2014, the Commissioners of the Korea Fair Trade Commission ("KFTC") approved a consent decree for SAP Korea, the Korean subsidiary of a global enterprise application software company. With this consent decree, the KFTC's investigation of SAP Korea was concluded without any finding of liability.
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A key issue in the case concerned is whether SAP Korea prohibited partial termination of the license/maintenance service agreement as requested by certain licensees. SAP Korea presented an implementation plan including introduction of a new partial termination policy, and cash and in-kind contributions to a public-service corporation worth KRW 300 million and KRW 15.87 billion, respectively.
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The KFTC's approval of the consent decree is significant in that it utilized the consent decree as a tool for promptly resolving cases in dynamic and innovative markets, such as the enterprise software market. In addition, this was the first time since its introduction that a consent decree was used to conclude a case involving a Korean subsidiary of a multinational company.
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Kim & Chang represented SAP Korea in this case.
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