The Hanyang University Law School team analyzed the potential competitive restrictions of a merger between a leading easy payment provider and a top virtual asset exchange, winning first place at the Mock Fair Trade Commission Competition for university students.
The Fair Trade Commission announced on August 19 that the Hanyang University team received the top award at the 24th Mock Fair Trade Commission Competition held at The Riverside Hotel in Seoul on August 12-13.
This year, a record 43 teams participated in the preliminary rounds. Twenty teams that passed the written evaluation competed in the finals, addressing recent fair trade issues related to online platforms, generative artificial intelligence (AI), and algorithms. The teams created hypothetical fair trade cases and divided roles between judges and defendants, engaging in debates over facts and legal principles similar to actual Fair Trade Commission hearings.
The Hanyang University team focused on a hypothetical case involving a comprehensive stock exchange merger between the top easy payment provider and the leading virtual asset exchange. The judges argued that the combination of payment and investment data, along with integrated membership, could create a lock-in effect that keeps users tied to a specific platform. They also raised concerns about the potential to block competition from adjacent new markets, such as Korean won stablecoins, and to raise entry barriers.
In contrast, the defense team contended that the virtual asset market is a borderless competitive environment, arguing that preemptively regulating an unformed future market for potential monopolies is unjust. They also presented the argument that the merger would enhance efficiency by competing with global players and improving consumer welfare.
The Best Award was shared by a joint team from Seoul National University and Korea University Law Schools and the Yonsei University Law School team.
The Seoul National University and Korea University joint team addressed a hypothetical case where an open market operator enters its own fulfillment business, securing data from partner logistics companies and offering benefits such as search exposure and rewards to sellers using its delivery services.
The Yonsei University team analyzed whether the actions of private rental operators using the same rental management software's price recommendation algorithm to set rental prices could constitute anti-competitive information exchange or collusion.
Additionally, three teams received Excellence Awards, and 14 teams received Encouragement Awards.
Choi Byeong-ki, chairman of the Fair Trade Commission, stated, "To solve the structural problems of our economy and achieve sustainable growth, it is essential to build a mature market system. I hope you will develop expertise with a keen interest in fair market design and competition policy."
* This article has been translated by AI.
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