PARIS, Jul. 17 (Korea Bizwire) — BNP Paribas today announced a settlement with the Board of Governors of the Federal Reserve System (“FRB”) relating to past misconduct in its foreign exchange business. Under this settlement with the FRB, BNP Paribas will pay a fine of USD 246 million (approximately 215 million euros) which will be [...]
SEOUL, Feb. 22 (Korea Bizwire) – Qualcomm Inc. has filed complaints against South Korean anti-trust regulator’s decision to penalize the U.S. wireless technology giant with a fine of 1.03 trillion won (US$903 million) for violating the nation’s competition laws. The complaints were filed with the Seoul High Court on Tuesday, a day before the deadline [...]
SEOUL, Jan. 3 (Korea Bizwire) – South Korea’s anti-trust regulator on Tuesday slapped a 526 million won (US$437,000) fine on Pizza Hut Korea for its unfair business practice against local outlets. The U.S.-based restaurant chain has collected a total of 6.8 billion won from franchisees here in the name of marketing and management fees outside [...]
SEJONG, Dec. 28 (Korea Bizwire) – South Korea’s antitrust watchdog on Wednesday slapped U.S. mobile phone chipmaker Qualcomm Inc. with a record fine of 1.03 trillion won (US$853.1 million) for abusing its dominant position in the mobile communications market. The Fair Trade Commission (FTC) said the San Diego-based company and its two affiliates breached the [...]
Seoul, Mar. 2 (Korea Bizwire) — A smoke-free zone on sidewalks along Gangnam Boulevard has been expanded, said the Seocho-gu office on March 1. The original 943-meter-long smoke-free zone stretched from exit No. 8 of Gangnam Subway Station to exit No. 6 of Sinnonhyeon Station. The district office has designated an additional 555 meters of [...]