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Korea - EU Competition Cooperation Agreement

By Bartolus

The EU has finally signed an agreement to coöperate with the Republic of Korea on antitrust matters.

It has taken quite a while for the EU to sign it (appeasement of the North, perhaps? Allright, that's just a joke).

The agreement with Korea is similar to those with the United States, Canada and Japan.

The agreement provides for :
-the notification of enforcement activities that may affect the interests of the other jurisdiction
-mutual assistance, including the possibility for one authority to ask the other to undertake enforcement action
-coordination of enforcement activities
-exchange of non-confidential information
-organisation of regular bilateral meetings between the parties' competition authorities.

The Commission's press release is available here. The actual text of the agreement is not made public (Commission's opacity policy oblige).

Full post as published by EU Law Blog on June 03, 2009 (boomark / email).