SEOUL, March 4 (Korea Bizwire) — South Korea’s Fair Trade Commission (FTC) has imposed a hefty fine on Dunlop Sports Korea for restricting retailers from offering discounts on its golf clubs, a move deemed an illegal restraint of competition. The FTC announced on Monday that Dunlop Sports Korea would face a 1.865 billion won ($1.29 [...]
SEOUL, Dec. 18 (Korea Bizwire) – South Korea’s Fair Trade Commission (FTC) has announced a comprehensive update to its advertising and labeling regulations, incorporating 32 new provisions from 29 recently enacted or amended laws. The updated guidelines include several consumer-focused requirements, such as mandatory disclosure of probability rates for in-game items, new regulations for patent attorney [...]
SEOUL, Sept. 25 (Korea Bizwire) — U.S. wireless chipmaker Broadcom Inc. said Monday it plans to seek an appeal against the South Korean regulator’s decision to slap a 19.1 billion-won (US$14.3 million) fine for its unfair business practices against Samsung Electronics Co. In a statement, Broadcom said it was “disappointed” over the Fair Trade Commission’s (FTC) decision, [...]
SEOUL, Sept. 13 (Korea Bizwire) — The South Korean Fair Trade Commission (FTC) has imposed sanctions on Pokémon Korea for selling the ‘Pokémon Random Box’ online without providing essential information about its contents, including dolls and figures randomly included in the boxes. The FTC announced on Tuesday that it had issued a fine of 1 million [...]
SEOUL, Oct. 21 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it plans to come up with measures to build grounds for fair competition in the online platform market amid growing criticism that the government has failed to properly monitor Kakao Corp.’s dominant position in the market. The move came after nearly all services [...]
VICTOR, N.Y., Dec. 24 (Korea Bizwire) – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that the U.S. Federal Trade Commission (FTC) has accepted the proposed consent order in connection with its transaction with E. & J. Gallo Winery to divest a portion of Constellation’s wine and spirits portfolio principally [...]
SEOUL, Dec. 4 (Korea Bizwire) — A Seoul court ruled in favor of South Korea’s antitrust regulator Wednesday, saying that the watchdog’s 2016 decision to impose a record fine on U.S. chipmaker Qualcomm Inc. for unfair business practices was justifiable. The ruling will be a setback for Qualcomm, which challenged the Fair Trade Commission’s (FTC) [...]
SEOUL, Nov. 28 (Korea Bizwire) — Automakers such as Hyundai Motor and Kia Motors are engaged in excessive management interventions, including their involvement in the personnel management of their sales agents. On the other hand, the pharmaceutical industry has seen an increase in the practice of rebates, in which sellers return a share of their [...]
FALLS CHURCH, Va., Jun. 5 (Korea Bizwire) — Northrop Grumman Corporation (NYSE:NOC) announced today that the U.S. Federal Trade Commission (FTC) has cleared Northrop Grumman’s proposed acquisition of Orbital ATK Inc. The FTC’s Bureau of Competition has completed its review of the merger, and the Premerger Notification Office has informed the company that the waiting [...]
SEJONG, Nov. 28 (Korea Bizwire) — South Korea’s antitrust watchdog on Tuesday ordered Maersk Line, the world’s largest container shipper, and its smaller German rival Hamburg Sud to withdraw from their alliances with other firms on some routes if they want to go ahead with their proposed merger. In October last year, Maersk proposed a [...]