earticle

영어

The Act of Supporting with Volumes of Trade(Il-Gam-Mol-Ah-Joo-Gi) is regulated as a kind of the unfair trade practices under the Monopoly Regulation and Fair Trade Act(hereinafter, “MRFTA”) in Korea. In 2007, the Fair Trade Commission(hereinafter, “FTC”) imposed a fine on the automaker and four units, including Kia Motors Corp., Hyundai Steel Co. and Glovis Co. for unfair trade with their sister units in breach of the fair competition rules. According to the FTC, Hyundai Motor was found to have illegally funded its auto-parts unit Hyundai Mobis Co. by paying excessive amounts of money on parts supplies, as well as having subsidized Hyundai Hysco through purchasing steel plates at higher costs. The nation's top two automakers, Hyundai Steel and Hyundai Mobis were also found to have allocated most of their orders to Glovis, the Hyundai Motor's freight unit. The article begins with a discussion of legal regimes relevant to the act of supporting with volumes of trade and the usurpation of corporate opportunity under the MRFTA and the Commercial Code, and then it examines critically the decisions of the court and the FTC in Glovis case.