South Korea: Authorities wrap up home shopping probe

South Korea’s Fair Trade Commission announced Sunday that its investigation into several home shopping companies accused of anticompetitive conduct has been completed.

A total of six firms, including GS and CJ, were under investigation following allegations of forcing product suppliers to change the terms of their contracts and handing down promotion costs to them.

In a statement, the KFTC said that so far, “it seems like they have been involved in all the gamut of unfair business activities,” though official conclusions will not yet be made. Reports say authorities will finalize their findings by the end of the year and hand it off to higher level members early next year to determine any sanctions to be imposed on the firms.

The KFTC added that final results will be announced early next year.

If sanctions are imposed, the watchdog said it would mark the first time the 2012 law aimed at cracking down on large-size retailers would be applied in an actual case.

Full content: Yonhap News Service

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