This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

KFTC warns Samwha Electronics over subcontractor interest payments

( January 20, 2016, 04:53 GMT | Insight) -- The Korea Fair Trade Commission has issued a warning to Samwha Electronics, accusing it of failing to provide interest to two subcontractors when using promissory notes to make payments. Under South Korean law, when companies make payments to subcontractor...The Korea Fair Trade Commission has issued a warning to Samwha Electronics, accusing it of failing to provide interest to two subcontractors when using promissory notes to make payments. Under South Korean law, when companies make payments to subcontractors using promissory notes, they must pay interest at a rate of 7.5 percent if the expiry date of the note is more than 60 days from the date an order is received. No sanctions were imposed but the action was still counted as illegal activity. In South Korea, subcontracting violations are considered antitrust issues as they are treated as abuses of a market position....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Related Sections