Korea’s FTC Fined Samsung Additional $356,000 Over Government Price Fixing Investigation

Posted on Mar 20 2012 - 8:14am by Editorial Staff

We earlier reported that South Korea’s Fair Trade Commission (FTC) has slapped Samsung, LG, Pantech and mobile operators SK Telecom, KT Corp. and LG Uplus Corp with a combined fine of 45.3 billion won (about $40.1 million) over the biggest mobile manufacturers and operators guilty of colluding to fix prices and defraud consumers. Over on which, Korean FTC has issued an additional fine on South-Korean giant of 400 million won ($356,000) after Samsung was found to have obstructed the FTC’s investigation. The FTC’s latest fine is its largest yet in an obstruction case.

(Image Source: Samsung logo)

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.