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South Korea: Bully dairy giant to stand trial for business practices

By  |  July 22, 2013
South Korea: Bully dairy giant to stand trial for business practices

A dairy conglomerate accused of unfair business practices will stand trial following an investigation into the company, said the Seoul Central District Prosecutors’ Office. Namyang Dairy Products Co is accused of requiring small dairy retailers and distributors to purchase a surplus of surpluses; six individuals from the company have been indicted, the watchdog said Monday. Those individuals include the company’s president, Kim Woong. Twenty-two additional individuals from the company have been issued fines for unfair practices. South Korea’s Fiar Trade Commission referred the case to prosecutors earlier this month following its probe; the regulator slammed a $10.9 million fine on the company already.

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