코로나바이러스 시대의 경쟁법의 집행 - 기업결합을 중심으로 -

Abstract

We live in so called Covid-19 pandemic times. Every company and every person has experienced many difficulties. The Covid-19 crisis brought about a collapse in demand, and collapse in demand brought about liquidity crisis for business. As a result, wokers were fired and furthermore companies went bankrupt. The Covid-19 crisis is causing economic depression in each country. As a result, there are many companies that go bankrupt or face a crisis in their business activities due to difficulties in corporate activities. The challenge is how to enforce competition law during the Covid-19 crisis.BR If there is a causal relationship between mergers and expected competitive risks, in other words, mergers that are expected to lead to anti-competitive effects should be prohibited. In some situations, the competitive environment in the market after the merger may not be as anti-competitive as the competitive environment in the case of bankrupt companies leaving the market. In such a case, even if the post-merger scenario is less competitive than the pre-merger scenario, the merger should be approved.BR The failing firm defence is a system that recognizes mergers for company that face financial difficulties and face bankruptcy. The standards for establishing failing firm defense remain the same even in times of crisis. However, the facts necessary to make a defense are likely to occur during the economic downturn. For example, on May 1, 2020, U.S.A Department of Justice(DOJ) announced it would allow Prairie Farmace to buy milk processing plants from bankrupt Dean, noting that the collapse of school and restaurant milk demand is creating a