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

Fine on Philips Korea over price fixing upheld by South Korea's Supreme Court

( June 23, 2017, 04:46 GMT | Insight) -- South Korea's Supreme Court has upheld a decision by the Korea Fair Trade Commission to impose a corrective order and fines of 1.5 billion won ($1.3 million) on Philips Korea for alleged price fixing, Yonhap News reports.South Korea's Supreme Court has upheld a decision by the Korea Fair Trade Commission to impose a corrective order and fines of 1.5 billion won ($1.3 million) on Philips Korea for alleged price fixing, Yonhap News reports. The company was accused of preventing online shopping-mall operators from offering discounted prices. The firm set prices of goods and banned online shopping malls from selling goods at prices lower than its recommended ones between March 2011 and May 2012. The company also prevented online sales of four of its products including electronic shavers and electric toothbrushes during that period. The commission sanctioned Philips in August 2012 and the firm filed an appeal, but lost at both at the Seoul High Court and the Supreme Court. ...

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