South Korea FTC Goes After Banks
The FTC said Sunday that the eight banks were setting the commission fees on export bills, The Korea Times reported. The banks are Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, Korea Exchange Bank (KEB), Standard Chartered First Bank, Industrial Bank of Korea (IBK) and Korea Development Bank (KDB).
“Since October 2002, these eight banks have collected an extra 0.4% of commission fees...
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