A PYMNTS Company

SK affiliates, including SK Telecom, fined $30.4 million

By  |  July 10, 2012

The Korean Fair Trade Commission has fined seven SK affiliates a combined 34.6 billion won (approximately $30.4 million) for unfairly propping up another affiliate. The fined affiliates, including SK Telecom and SK Innovation, paid 1.7 trillion won in service fees to SK C&C Co. between 2008 and June 2012. The fees–personnel expenses–were higher than the average for the market.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    SK C&C and three individual executives were fined 290 million won for obstructing the FTC investigation.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full content: Yonhap

     

    Related content: Liability of a Parent for the Antitrust Violations of a Subsidiary Under Asian Antitrust Law

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.