Competition Regulator Fines Samsung $12M

Law360, New York (February 21, 2008, 12:00 AM EST) -- Korean electronics giant Samsung Electronics Co. has been hit with yet another fine by South Korea's competition watchdog, this time for engaging in unfair business practices.

The Korean Fair Trade Commission said on Thursday that it had fined Samsung 11.58 billion won ($12.2 million) for pressuring subcontractors to lower their prices. The KFTC also fined two individual Samsung executives 20 million won ($21,000) each for failing to cooperate with the investigation.

The fine relates to companies that Samsung hires to provide the parts for its mobile...
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