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KFTC rejects appeal of sanctions against PHC pile supplier over refusal to trade

( March 31, 2016, 03:23 GMT | Insight) -- The Korea Fair Trade Commission has confirmed its original decision to impose corrective orders and fines of 500 million won ($437,237) on the Korea Centrifugal Reinforced Concrete Industry Cooperative for refusal to trade, Edaily reports.The Korea Fair Trade Commission has confirmed its original decision to impose corrective orders and fines of 500 million won ($437,237) on the Korea Centrifugal Reinforced Concrete Industry Cooperative for refusal to trade, Edaily reports. The cooperative refused to provide prestressed high strength piles to construction firms if those companies used a newly developed bolt-fastening method to connect the PHC piles. A company that developed the bolt-fastening method was found to have been harmed. The KFTC imposed the sanctions on the cooperative last December, but that decision was appealed. The commission dismissed the appeal at a hearing of its standing committee held last week....

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