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South Korea's GS Retail loses appeal against KFTC fine for supplier cost shifting

By Jenny Lee ( August 21, 2024, 07:45 GMT | Insight) -- GS Retail, a major player in South Korea's TV home-shopping sector, has suffered a significant legal setback in its attempt to overturn a $1.2 million fine and corrective orders imposed by the country's competition watchdog. Last month, the Seoul High Court upheld the decision by the Korea Fair Trade Commission to fine GS Retail, the operator of GS Home Shopping, for unfairly shifting promotional costs to its suppliers, court documents show.GS Retail, a major player in South Korea's TV home-shopping sector, has suffered a significant legal setback in its attempt to overturn a 1.6 billion won (about $1.2 million) fine and corrective orders imposed by the country's competition watchdog....

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