A PYMNTS Company

SK affiliates, including SK Telecom, fined $30.4 million

 |  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.

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

Full content: Yonhap


Related contentLiability 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.