Supreme Court’s JudgmentIn its ruling on Samick Musical Instruments case, the Supreme Court
justified the High Court’s judgment by explaining basic legal theories in
relevant market definition, in estimation of anticompetitive effects of a merger,
in treatment of efficiency defense and failing firm defense and in remedies.
The ruling represented the first judgment made by the Supreme Court on a
merger case and is, therefore, expected to have a significant impact on future
merger cases, the details of which will be elaborated in the following.