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South Korean regulator fines baby clothes makers over subcontracting practices

( December 4, 2015, 07:20 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission, or KFTC, has decided to impose corrective orders and fines of 282 million won ($243,754) on Happyland F&C and MU S&C for allegedly failing to provide commissions to subcontractors when making payment using promissory notes. Happyland failed to provide commissions of 1.22 billion won to 134 subcontractors for three years from April 2011. The firm was also accused of not providing delayed payment charges of 10.7 million won when making subcontract payments 60 days after receiving products. MU S&C was accused of failing to pay commissions of 447 million won and delayed payment charges of 9.67 million won. ...

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