Find XO: Fair Trade Commission Announces Amendment Including Key Personnel Acquisition in Merger Reporting (ftc.go.kr)

- The Fair Trade Commission will issue a public notice on amendments to the merger reporting guidelines until 9 month 30 day. - A clause stating that organized personnel along with their skills and knowledge are considered a component of business operations if they perform core functions of the business has been added, bringing transactions involving only acquiring a team under review scope. - However, the thresholds of 10 percent of total assets or 100 billion won remain unchanged, so most small transactions will be excluded. - Note that the tactic of splitting contracts into multiple parts to fall below the threshold will be blocked first.