KUALA LUMPUR: The Malaysia Competition Commission and Korea Fair Trade Commission have signed a memorandum of understanding to strengthen cooperation in competition law enforcement and policy development.
This agreement establishes a formal framework for collaboration between the two agencies, including the exchange of non-confidential information on legislative developments and cases.
The partnership will involve technical cooperation to enhance enforcement capacity, expert meetings, and participation in international events of mutual interest.
MyCC chairman Tan Sri Idrus Harun stated that this cooperation builds upon previous engagements between the two agencies dating back to 2019.
He noted that KFTC experts previously participated in MyCC’s Expert Dispatch Programme, sharing valuable insights on bid rigging and merger control practices.
Idrus expressed hope that this partnership would allow MyCC to benefit from KFTC’s extensive experience while contributing Malaysian perspectives to regional competition policy development.
Both agencies have committed to supporting international cooperation initiatives addressing cross-border anticompetitive conduct.
This partnership reflects the shared vision and commitment between Malaysia and South Korea to build resilient enforcement regimes and advance regional cooperation.
Malaysia particularly stands to benefit from KFTC’s extensive experience in merger control as MyCC prepares to implement its own merger regime by 2026.
The signing ceremony occurred during the 13th Seoul International Competition Forum at The Shilla Seoul, with both commission chairmen signing the agreement.
MyCC Chief Executive Officer Datuk Iskandar Ismail and KFTC Director General Dongryeul Shin witnessed the formal signing of this important international cooperation agreement. – Bernama
