A five-member Korean government delegation will meet the Commerce Commission tomorrow to study New Zealand's competition law, the Commerce and Fair Trading Acts.

The delegation includes the Chairman of the Korean Fair Trade Commission, Jeon Yun-Churl, and the Deputy Head of the Korean Presidential Commission on Competitiveness, Kang Hi-Bock.

The Korean government initiated the visit, and aims to gain a better understanding of New Zealand's approach to competition law and the reforms New Zealand undertook to put our current law in place.

"It is certainly a compliment to New Zealand that representatives of one of the fastest growing economies in the world wanted to come specifically to New Zealand to look at how competition law can be developed," Commerce Commission Chairman Dr Alan Bollard said.

Internationally, New Zealand's competition law is highly regarded. It has drawn favourable comment in recent conferences on competition policy held by APEC and the British Institute of Economic Affairs.

Korea's existing competition law, the Korean Fair Trading Act, is similar in some ways to New Zealand's Commerce Act. Of the East Asian countries, Korean competition law is most similar to New Zealand's.

Korean delegation

Fair Trade Commission Chairman Jeon Yun-Churl

Deputy Head Presidential Commission on Competitiveness Kang Hi-Bock

Deputy Head Deregulation Task Force Kim Byung-Bae

Director International Affairs Division Fair Trade Commission Shin Ho-Hyun

Deputy Director International Affairs Division Fair Trade Commission Song Sung-Uk

The delegation will meet the Minister of Commerce John Luxton, Dr Bollard, Commission Deputy Chairman Peter Allport and staff from the Ministry of Commerce.

Itinerary

9am - 9.30am Meet Minister of Commerce John Luxton

9.30am - 10.30am reforming regulations

10.45am - 11.45am recent developments in competition law and policy

12 noon - 2pm lunch to also be attended by Korean Ambassador Yoon Kyung Oh

Media contact: Communications Officer Vincent Cholewa

Phone work (04) 498 0920, home (04) 479 1432