Discount Stores Hit with Fines for Unfair Practices

The Fair Trade Commission (FTC) decided to slap fines on big discount stores including Walmart, E-mart, and Carrefour because of their unfair trade practices.
The FTC announced on December 28 that it discovered unfair practices in seven stores and decided to impose 524 million won worth of fines on these stores.
It surveyed 10 discount stores in the Seoul and Taejon areas during last August and September.
The U.S.-based Walmart was fined the largest amount at 195 million won followed by Shinsegye's E-mart (157.5 million won), France-based Carrefour (86.6 million won), and another U.S.-based store, the Price Club (84.3 million won).
The FTC argued that these stores demanded suppliers reduce prices on products and attracted customers with inaccurate, misleading advertisements. Additionally, these companies offered illegal and excessive gifts to customers.