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South Korea: LG probed for ‘unjustified’ business practices

By  |  October 21, 2014

South Korea’s Fair Trade Commission announced it will launch an investigation into business practices of LG Uplus and its relationship with affiliate LG Electronics, say reports.

The probe comes after New Politics Alliance for Democracy Rep. Kim Ki-shik accused LG Uplus of unfairly purchasing handsets from LG Electronics at inflated prices to make up for LG Electronics’ money woes. “Such unjustified support of LG Electronics should be immediately corrected,” Kim said.

In response, the KFTC said Monday that it will investigate whether LG Uplus’s actions constituted anticompetitive behavior. The KFTC confirmed Tuesday that an investigation is in the works.

Full content: Korea Times

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