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Richard Tong-Jun Shin

Richard Tong-Jun Shin

Lee & KoHanjin Building63 Namdaemun-ro, Jung-guSeoulKorea04532

Global Leader

WWL Ranking: Recommended

National Leader

Korea - Competition Economists

Professional Biography

WWL Ranking: Recommended

WWL says

Richard Tong-Jun Shin is a well-recognised expert in competition economics who is regularly engaged in matters relating to abuse of dominance, price-fixing and mergers.


Richard Shin has 30 years of experience in researching, analysing, and consulting on antitrust, competition, and regulatory issues. His experience at the US Department of Justice (DOJ) antitrust division, the bureau of economics at the US Federal Trade Commission (FTC), and major economic consulting firms in the US, brings quality economic analysis to CECG and Lee & Ko. Since leaving government service, Dr Shin’s work has expanded to matters involving private litigation and other regulatory jurisdictions including the Korea Fair Trade Commission (KFTC).

At the FTC, Dr Shin provided estimation of AIDS demand models to simulate the unilateral effects of mergers between cereal companies. This was the first known case in the US where cross-elasticities from estimated demand system equations provided the basis for measuring unilateral effects. In addition, he conducted a number of studies, such as identifying industries that are prone to collusion, examining the pricing behaviour of non-profit versus for-profit hospitals, and measuring the competitive effects in telecommunications industry.

At the DOJ, Dr Shin’s involvement includes such mergers as British Telecom/MCI, WorldCom/MCI, WorldCom/Sprint, Nextel/Pittencrieff and other telecoms mergers and regulatory issues. In addition, his work on the Premdor/Masonite merger, which involved two vertical firms, resulted in a consent decree based on theories of potential and actual entrant in the downstream market. The 3D/DTM merger resulted in a divestiture with mandatory patent licensing provisions to preserve competition.

In the private sector, Dr Shin has continued to apply his theoretical and quantitative skills to the analysis of mergers, abuse of dominance and price-fixing in various industries. He has expanded his expertise to include damage estimation in patent infringement litigation and in complex commercial or regulatory disputes. In a patent infringement suit (Ormco Corp v. Align Technology), Dr Shin’s expert report for Ormco was instrumental in reaching a settlement in excess of $90 million. Dr Shin submitted expert affidavits on False Claims Act case against Oracle in claims involving systematic overbilling on software products sold to federal government agencies. Dr Shin provided real-time damage analysis during negotiations. The case settled for $199.5 million – the largest False Claims Act settlement ever negotiated at that time, in a case involving fraud against the General Services Administration.

Dr Shin has also submitted expert reports and testified before the KFTC on various matters involving competition issues including SK Corp’s acquisition of Inchon Oil Refinery, the Crown/Haetae merger, and price-fixing cases involving flour mills and oil refineries.

Dr Shin’s research interests span a broad range of subject matters, including applied microeconomic theory, industrial organisation, regulation and econometrics. He has performed economic analysis in various industries including, but not limited to, cereals, stainless steel, biscuits, cable service including direct broadcasting service, traditional telephone service, wireless telephone service, internet backbones, software, consumer food products, industrial products, airlines and oil refineries. He has a strong background in mathematics and statistics and has examined various aspects of costs of operations, profitability, and risk assessment. These projects include cost function estimation, examination of large datasets, and complicated calculations and estimation analysis.

Dr Shin received a PhD in economics and MAs in economics and statistics from the University of California, Berkeley.

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