The European competition policy can look back at a successful forty-year-old practice of application by the European Commission. However, the performance orientation in competition policy has become more and more important with increasing importance of european integration. In a multitude of merger and state aid cases such a performance orientation can be shown. The European competition policy has three broad branches of competition law : (1) Anti-trust/cartel policy, (2) Merger control and (3) State aid. The authority applying competition law should be organised taking regard of aspects of institutional economics. The major articles and regulations of EU competition policy are article 81, 82 and 87 and Council regulation Nr. 4064/89. According to this articles and regulation, EU carries out the competition policy. The European competition policy can give some implications for Korea`s competition policy.