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South Korean watchdog fines Samjung, Daelim ENC, Daewoo Development over subcontracting practices

( November 30, 2015, 04:34 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission has decided to impose corrective orders and fines of 240 million won ($207,447) on construction firms Samjung, Daelim ENC, and Daewoo Development for the alleged unfair treatment of subcontractors. The firms were accused of failing to pay delayed payment charges of 130 million won to 72 subcontractors for two years starting from January 2013. Samsung and Daelim were also accused of failing to pay commissions of 1.07 billion won to 209 subcontractors by making payments using promissory notes.  The regulator's statement, in Korean, is attached....

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