The reputable journal in the field of Industrial Organization, the "Review of Industrial Organization," has published a special issue commemorating the 25th anniversary of the introduction of the EU leniency program. The paper titled "Leniency Policies and Cartel Success: An Experiment" has been featured in this issue. The paper compares the cartel leniency policies of South Korea and the United States, highlighting differences in the level of cartel fines, leniency eligibility, and scope.

In the paper's conclusion, it suggests the need to increase the level of fines for cartel behavior in South Korea's competition policy. It's worth noting that recent policy changes in South Korea's Fair Trade Commission align with the findings of this research. I am delighted to have published my paper as a member of KDI School, and I look forward to continuing meaningful research in the field of competition policy.