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ROK Firms Fined W103 Bil. Overseas.
(From Korea Times)
The United States and the EU have slapped 103 billion won in fines against Korean companies operating overseas for unfair trading between 1997 and 2002.
The Fair Trade Commission (FTC) fined 11.2 billion won against foreign companies here for breaking the fair trading rules during the period.
In a report to the National Assembly, seven Korean companies were fined 103 billion won overseas for six cases of violating foreign fair competition laws.
CJ, formerly Cheiljedang, and Sewon America paid $1.25 million (1.63 billion won) and $300,000 (390 million won) each for collusive activity in the sale of amino acids in the U.S. in August 1996.
The two companies were also fined for the same ...
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