ANTITRUST PRACTICE - Yulchon

671. Mergers and Acquisitions continued• In 2002, we advised Lotte Shopping in its acquisition of Midopa. We provided legalcounsel throughout the entire process of the merger, from the initial negotiations,execution of the agreement, and reporting the merger to the KFTC for its review. Wesuccessfully obtained approval for the merger.• In 2002, we advised SK Networks Company in its acquisition of Korea Thrunet. Weprovided legal counsel throughout the entire process of the merger, from the initialnegotiations, execution of the agreement, and reporting the merger to the KFTC forits review. We successfully obtained approval for the merger.• In 2000, we advised SK Telecom, the largest wireless communication service providerin Korea, in its acquisition of shares in Shinsegi Telecom, the third largest wirelesscommunication service provider in Korea. This was the largest M&A transaction inKorea in 2000. We advised our client throughout the entire process of the acquisition,from initial negotiations, execution of the agreement, and reporting the merger to theKFTC for its review. Contrary to skeptical views, we succeeded in obtainingconditional approval for the merger.2. Cartels• In 2011, we represented Samsung Electronics in a price-fixing and supply-fixing cartelcase involving 10 TFT-LCD manufacturing/distribution companies from Korea andTaiwan. In this case, the KFTC originally imposed an administrative fine of 194 billionKorean Won against ten TFT-LCD companies. We assisted Samsung Electronics fromthe investigation stage to the end of the KFTC proceedings.• In 2011, we represented Dongbu life insurance and KDB life insurance in a caseinvolving 16 life insurance companies charged with engaging in unfair collaborativeacts with regard to expected interest rates and publicly announced interest rates ofindividual insurance products. We assisted our clients from the investigation stage tothe end of the KFTC proceedings and obtained on Dongbu’s behalf a full exemptionfrom fines and on KDB’s behalf a substantial reduction of the fines originallyrecommended by the examiner.• In 2011, we represented Universal Music, SM Entertainment, and Neowiz Internetfrom the investigation stage to the end of the KFTC proceedings in a music sourceprice-fixing cartel case involving 13 music source distributors. We succeeded inobtaining a greater reduction in the degree of the sanctions recommended by theexaminer against our clients as compared to other respondents in the case.• In 2010, we represented Korea Investors Service (KIS) before the Korea Fair TradeCommission (KFTC) and demonstrated its capabilities as a full-service law firmthroughout the entire KFTC process, starting from conducting an internal investigationand maneuvering through the KFTC process.• In 2010, we represented Lufthansa and Swiss International Air Lines, a Lufthansasubsidiary, in a price-fixing cartel case involving twenty-six international air carriers.This case was the biggest global cartel case in Korea to date and involved manycomplex Korean antitrust law issues. We assisted Lufthansa and Swiss InternationalAir Lines from the investigation stage to the end of the KFTC proceedings.• In 2009, we represented GS Caltex, the second largest oil company in Korea and ajoint venture company between Chevron of the United States and GS Group ofKorea, in a case involving six Korean LPG suppliers charged with fixing LPG prices.We assisted GS Caltex from the investigation stage to the plenary session of theKFTC and succeeded in obtaining a 75% reduction in fines as well as an exemptionfrom criminal prosecution.• In 2009, we represented Donga Otsuka, a joint venture company between DongaPhar- maceutical of Korea and Otsuka of Japan, in a case involving five beveragemanufacturers charged with jointly increasing their beverage prices. We assistedDonga Otsuka from the investigation stage to the end of the KFTC and obtained anexemption from corrective measures and fines for our client.• In 2009, we represented one of four credit rating agencies charged with jointlyincreasing their rating service fees. We assisted our client from the investigation stageto the plenary session of the KFTC and obtained an exemption from correctivemeasures and fines for our client.• In 2009, we represented Samsung Electronics in a price-fixing cartel case andobtained a dismissal decision without any penalties from the KFTC.• In 2009, we represented Bridgestone in cartel case involving six marine hosemanufacturers charged with bid riggings for marine hoses. We assisted Bridgestonefrom the investigation stage to end of the KFTC proceedings and obtained asubstantial reduction in fines.• In 2009, we represented UPM in an international cartel case involving four copy paperdistributors charged with jointly increasing their paper prices. We assisted UPM fromthe investigation stage to the end of the KFTC proceedings and obtained a fullexemption from sanctions, including corrective measures and fines.• In 2008, we represented two life insurance companies and two casualty insurancecompanies in a case involving 24 insurance companies and the National AgriculturalCooperative Federation charged with jointly increasing the insurance premium ratesfor their group insurance and retirement insurance policies and rigging a bid for publicservants’ group insurance policy. We assisted our clients from the investigation stageto the end of the KFTC proceedings and [obtained a two-third reduction in fines – allclients obtained the same percentage of reduction?] and an exemption from criminalprosecution for our clients.