The Fair Trade Commission ruled that it was legal to impose a penalty on LGU+ KT for 'selling at a low price and expelling competing businesses'
This article is translated by AI company Flitto and Alhpabiz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-01-17 10:51:12
[Alphabiz=(Chicago) Reporter Kim Jisun] The Fair Trade Commission has ruled that it is lawful to impose fines on LG U+ and KT, which sold corporate messaging services at low prices and drove out competing businesses. According to the Fair Trade Commission on the 17th, the Seoul High Court ruled in favor of the Fair Trade Commission in a lawsuit filed by LG U+ and KT on the 12th to cancel corrective orders and fines. The Fair Trade Commission imposed 4.494 billion won and 2 billion won in fines and corrective orders (action prohibition order, separation of related accounting) on LG U+ and KT, the dominant operators in the wireless network transmission market, in 2015, for "pressing" the profits of rival corporate messaging operators, respectively, by selling corporate messaging services at a lower price than the average minimum price of transmission services.
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