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Regulator fines big conglomerates 100 bln won over past 3 years

All News 09:01 October 05, 2020

SEJONG, Oct. 5 (Yonhap) -- South Korea's top 10 business conglomerates were fined some 100 billion won (US$85.5 million) over the past three years for unfair business practices, a report showed Monday.

In a parliamentary audit report, the Korea Fair Trade Commission (KFTC) said it fined the top 10 conglomerates, including Samsung and Hyundai Motor, 103.4 billion won between 2017 and 2019.

Hyundai Motor Group was slapped with the biggest fine of 87.8 billion won, the report showed.

The KFTC fined Hyundai Steel Co., the group's steelmaking unit, 67.4 billion won for price fixing.

LG Group was fined 4 billion won over the past three years, while SK Group was fined 3.2 billion won, according to the report.

Regulator fines big conglomerates 100 bln won over past 3 years - 1


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