It was truly a historic moment when the sixteen founding members from China, Japan and Korea signed the MOU
on the establishment and operation of Asia Competition Association at the Lotte Hotel World, Seoul, Korea,
on September 4, 2008.
Memorandum of Understanding
on the Establishment and Operation of
Asia Competition Association
We, individuals, agree as follows:
1. With a view to contributing to the expansion and enhancement of competition culture in Asia by enhancing
international exchange and cooperation on competition laws and policies in Asia at non-governmental level,
agree to establish Asia Competition Association (hereinafter "the Association").
2. The membership of the Association shall consist of both corporate members and individual members. Each party
shall make his or her best efforts to expand the membership of the Association.
3. Unless otherwise agreed by the parties, the activity of the Association shall be to act in furtherance of the
purpose set forth in Paragraph 1, for example by (1) expanding the membership of the Association, (2) holding an
international competition conference, similar to the AICC in Seoul on September 4, 2008, once a year or every two
years as possible and to be decided in further detail later, (3) sharing information about recent developments in the
various represented jurisdictions, and (4) holding periodic meetings of the Association as possible.
4. The businesses of the Association shall be managed by the parties by consensus. However, for the time being,
the secretarial work of the Association shall be discharged by the Korean parties. Executed at the Lotte Hotel
World, Seoul, Korea, on September 4, 2008.