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E.Land Retail fined over unfair business practices

Industry 12:00 May 19, 2019

SEJONG, May 19 (Yonhap) -- South Korea's antitrust regulator said Sunday that it has fined E.Land Retail Co. 213 million won (US$179,000) for passing on sales promotional expenses to hundreds of its suppliers.

The Fair Trade Commission said E.Land Retail made its 314 suppliers pay a combined 215 million won -- which was not included in written agreements on sales promotional expenses -- during sales promotional events at 17 outlet stores in 2017.

E.Land Retail is also accused of reducing the size of the sales floors of six suppliers.

The company operates 51 outlet malls in South Korea, including department stores.

E.Land Retail officials could not immediately be reached for comment.

E.Land Retail fined over unfair business practices - 1

entropy@yna.co.kr
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