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Samsung slapped with massive fine by Korean regulator

February 22nd, 2008 · No Comments

Samsung Electronics has been slapped with a fine of 11.5 billion won (roughly 6 million pounds) by South Korea’s corporate regulator, after a long-running investigation into its murky business past. The Fair Trade Commission revealed a fistful of improper business practices by the AV giant, including putting extraordinary price pressure on its parts suppliers and mismanaging relations with subcontractors.
Two Samsung executives were also found guilty of hampering the regulator’s investigation, and were each fined 20 million won.

Tags: Corporate · Miscellaneous items · Trade

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