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Lotte Mart to face KFTC sanctions in July over dominance abuse

( May 26, 2017, 04:38 GMT | Insight) -- The Korea Fair Trade Commission has decided to confirm in July the sanctions it will impose on Lotte Mart over its alleged abuse of dominance, Biz Hankook reports.The Korea Fair Trade Commission has decided to confirm in July the sanctions it will impose on Lotte Mart over its alleged abuse of dominance, Biz Hankook reports. The company stands accused of unfairly cutting unit prices of pork supplied by the company Shinhwa. It supplied pork to Lotte from July 2012 to November 2015, but faced financial losses of 10.9 billion won ($9.7 million) because of unfair trade practices by Lotte. It also recently filed for court receivership. In November 2015, the Korea Trade Mediation Agency ordered Lotte to pay compensation of 4.8 billion won to Shinhwa, but the company refused, which led the KFTC to launch its own investigation. ...

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