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January, 23, 2017

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South Korea Fair Trade Commission fines hit record US$846.1 mil. in 2012

SEOUL -- South Korean's Fair Trade Commission has levied fines on enterprises totaling 913.8 billion won (US$846.1 million) so far this year, an all-time high on a yearly basis.

The collective figure for this year far surpasses the antitrust regulator's fines of 347.3 billion won on rule-violators in 2011 and 507.4 billion won in 2010.

During the first and second year of the Lee Myung-bak administration, the figure was 131.1 billion won and 110.8 billion won, respectively, under the president's business-friendly policies.

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