On November 14, 2023, the Korea Fair Trade Commission (“KFTC”) issued a draft amendment to its Merger Review Guidelines to “modernize” its enforcement manual (the “Proposed Amendment”). Following the Review Guidelines on the Abuse of Market Dominance by Online Platforms adopted earlier this year, the Proposed Amendment defines “online platforms” and adjusts the review guidelines to reflect the distinct features of online platforms that affect competitive analysis, such as zero-price services, multi-sided platforms, and network effects.

The public comment period for these changes lasted 20 days, having ended on December 5, 2023. The KFTC plans to finalize and adopt the revised guidelines through resolution at a plenary meeting. The Proposed Amendment includes significant updates to market definition, competitive assessment, efficiencies, and eligibility criteria for fast-track review.

For more details on the Proposed Amendment, please refer to the attached file.