Daewoo Shipbuilding & Marine Engineering (DSME) was hit with a 15.3-billion-won ($13.8 million) fine for mistreating its subcontractors, including forcing them to accept contract prices below labor cost, the Fair Trade Commission (FTC) said Sunday.
Hyundai Heavy Industries (HHI) was hit with a 970-million-won ($807,000) fine for transferring information from one supplier to another in order to create competition for a component and drive down costs, the Fair Trade Commission (FTC) said.
The Fair Trade Commission (FTC) fined Delivery Hero Korea, operator of Yogiyo, 468 million won ($382,000) for taking advantage of its market position to push a lowest price policy on restaurants several years ago.
Samsung Electronics Vice Chairman Lee Jae-yong made headlines last week with a public apology and a vow to end his family’s dynastic control of the company, eliciting praise from some observers while others viewed the business leader’s words with ...
Conglomerates in Korea were already struggling to make profit even before the outbreak of the coronavirus pandemic, according to Fair Trade Commission (FTC) data released Sunday.