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Korea Fair Trade Commission fines six TV shopping channels for unfair business practices

( March 30, 2015, 09:30 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission issued correction orders and fined six TV shopping channels a total of 14.4 billion won ($12.98 million) for unfair business practices. The companies fined were GS Homeshopping, Hyundai’s Hmall, HNS Mall, NS Mall, CJ O Shopping, and Lotte Homeshopping. The violations by the companies included delaying the signing of contracts with suppliers, non-payment or overdue payments for products received, and unilaterally changing contracts for commissions. This is the first time that home shopping networks have been fined by the KFTC....

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