Korea Abolishes 30-day Filing Deadline
In a new amendment to Korea’s Monopoly Regulation and Fair Trade Law, Korea will abolish the 30-day waiting period that previously applied to pre-closing merger notification. While the parties may therefore file as soon or late after the triggering event (such as the signing of a definitive agreement) as they like, the reportable transaction may not close before it is cleared by the the KFTC. The amendments will go in effect in about 3 months.
HT to Kim & Chang.
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