Joseph Bauer, professor of law in the University of Notre Dame Law School, delivered the keynote speech at the Korean Competition Law Association International Symposium in Seoul, South Korea, Nov. 6 and 7.
In Korea,“competition law,”like America’s antitrust law, is enacted to support a free market economy by promoting competition and limiting monopolies. The symposium focused on the regulation of the insurance industry, a subject which has recently made its way into headlines around the world.
Korea is home to many large insurance companies which are working collectively to seek exemptions from certain Korean antitrust laws. The goal of such exemptions would be to free the insurance companies from the burden of inconsistent regulations enforced by the Korean financial supervisory agency.
Bauer, a noted expert on federal antitrust law and a board member of the American Antitrust Institute, was invited to speak about U.S. antitrust exemptions for the insurance industry, particularly the McCarran-Ferguson Act. The Korean insurance industry hopes that this model will be replicated in their country.
Bauer is the author of four volumes of a leading antitrust treatise and co-author of a fifth volume in that series. He also has testified before Senate and House committees and subcommittees and in judicial proceedings and served as a consultant for a number of antitrust and intellectual property matters.
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