A PYMNTS Company

South Korea: FTC fines doctors for colluding against rivals

 |  October 23, 2016

The leading organization representing doctors has pressured medical equipment suppliers not to do business with oriental medicine clinics, the Fair Trade Commission (FTC) said.

As a result, the FTC on Sunday said it has slapped three groups representing doctors in Korea – the Korean Medical Association, National Union of Medical Doctors and Korea Medical Clinic Association – with a fine of $1 million.

The Korean Medical Association pressured GE Healthcare between 2009 and 2012 not to sell its ultrasound devices to oriental medicine clinics, the antitrust agency said. The medical association even threatened that it would start a boycott against sales of the company’s products if it didn’t agree to its demand, the FTC said.

As a result, GE Healthcare cancelled its business with oriental medicine clinics including sales agreements for nine ultrasound devices.

Full content: Korea Joongang Daily

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