On January 1, 2015, the Korea Fair Trade Commission (“KFTC”) announced amendments to the “Public Notification on Implementation of the Leniency Program for Leniency Applicants for Collusions, etc.” (“Public Notification”). According to the KFTC, the Public Notification was amended to address problems found in the course of implementing the leniency program and to reflect the recent court rulings and the amended provisions of the Enforcement Decree of the Monopoly Regulation and Fair Trade Act (“the Enforcement Decree”). The details of the three amendments are as follows:

  1. Abolition of tentative approval of leniency status
  2. Revision of evidence necessary to prove collusion
  3. New standards for mitigation of remedial measures for 2nd ranked leniency applicants