Threshold of the sales volume declared by enterprises apply for combination to be loosened by the Fair Trade Commission

The Fair Trade Commission (“FTC”) indicated yesterday (31) that the threshold of the sales volume to be declared by the enterprises which apply for combination will be loosened from the current amount of 5 billion to over 10 billion for non-financial institutions and over 20 billion for financial institutions. As to the sales volume of  financial holding companies or other holding companies in the last fiscal year shall be determined together with the sales volume of the subsidiaries of the holding companies. The current approval system will be changed to the opposition system. In the future, if the FTC doesn’t oppose within thirty days after the enterprises which apply for combination, the case about combination will take effective.  It is estimated that the two-month period of examining a case about combination of enterprises will be shortened to one month after the examination procedures are shortened.

Source: Economic Daily News 02/01/2002

Translated by Joanne Lue