We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Discount Chain Sues Korean Fair Trade Commission

Law360 (December 1, 2006, 12:00 AM EST) -- Korea’s largest discount mart chain, Shinsegae, has decided to sue the Korean Fair Trade Commission for imposing “unreasonable” conditions on the company’s acquisition of Wal-Mart stores in Korea.

Wal-Mart, which entered South Korea seven years ago, finally gave up its unprofitable fifth place position and sold 100% of its operations to Shinsegae for around $825 million. Shinsegae will operate them under the umbrella of its E-Mart retail chain.

However, the KFTC, worried about a monopoly in several areas of the discount chain market, ordered Shinsegae to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.