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Mirae Asset fined for unfair business practices

All News 10:21 May 27, 2020

SEJONG, May 27 (Yonhap) -- South Korea's antitrust regulator said Wednesday it fined Mirae Asset Financial Group, a major financial conglomerate, 4.39 billion won (US$3.56 million) for unfair business practices.

Mirae Asset has been accused of allegedly awarding contracts to its affiliates, allowing them to pocket profits, the Fair Trade Commission (FTC) said.

The unfair intra-affiliate trading was worth some 43 billion won, the FTC said.

But the FTC decided not to refer Mirae Asset Chairman Park Hyeon-joo to prosecutors for further investigation.

Mirae Asset fined for unfair business practices - 1


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