More than 70% of the antitrust lawsuits related to collusion sanctioned by the Fair Trade Commission (FTC) have been taken on by the country's top 10 law firms. In the past decade, 86 former FTC officials have transitioned to these firms.
According to data analyzed by Han Chang-min, a member of the National Assembly's Political Affairs Committee, a total of 263 antitrust-related lawsuits were filed from January 2021 to July 10, 2023. Of these, 191 cases (excluding duplicates) were handled by major law firms such as Kim & Chang, Bae, Kim & Lee, and Sejong, accounting for 72.6% of the total.
Kim & Chang led with 32 cases, followed by Hwawoo with 30, Bae, Kim & Lee with 29, Sejong with 25, and both Kwangjang and Barun with 18 cases each. Yulchon took on 16 cases, while Jipyung handled 14, and both Daeil and YK managed 7 cases each.
The movement of FTC personnel to large law firms has also been notable. According to data submitted by the National Health Insurance Service, from January 2016 to the end of August 2023, 86 individuals transitioned from the FTC to the top law firms. The largest number, 21, moved to Kim & Chang, followed by 13 to Bae, Kim & Lee, 11 to Yulchon, 10 to Hwawoo, and 8 each to Kwangjang and Sejong. A total of 44 former FTC officials moved to the top three law firms handling the most antitrust lawsuits: Kim & Chang, Hwawoo, and Bae, Kim & Lee.
There was a significant difference in salaries before and after the transitions. The average monthly salary of the 21 former FTC officials who moved to Kim & Chang increased from 8.25 million won to 30.59 million won, a 3.7-fold increase. For those who moved to Hwawoo, the salary rose from 6.73 million won to 21.54 million won, a 3.2-fold increase, while Bae, Kim & Lee saw an increase from 6.21 million won to 18.23 million won, a 2.9-fold rise.
The transition of former FTC officials to law firms does not automatically indicate a violation of current laws. The Public Service Ethics Act restricts individuals from taking jobs closely related to their previous work for three years after retirement, but allows employment if confirmed or approved by the Public Service Ethics Committee.
However, concerns have been raised that the reemployment of former FTC officials at law firms could leverage their case-handling expertise, understanding of internal matters, and personal relationships with current officials in corporate investigations or responses to sanctions. Given that these law firms are taking on a significant number of antitrust lawsuits, there is a need for scrutiny regarding employment reviews and post-transition job assessments.
Han Chang-min stated, "Large law firms are concentrating on lawsuits from companies sanctioned for collusion, and former FTC officials are moving to these firms for high salaries. We will examine how the employment reviews and job restrictions for former officials are actually implemented, as well as how the FTC is responding to antitrust lawsuits during the upcoming National Assembly audit."
* This article has been translated by AI.
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