Fines on Loen, KT Music for price fixing upheld by South Korea's Supreme Court

( October 10, 2016, 02:40 GMT | Insight) -- The South Korean Supreme Court has confirmed the original verdict at the appellate court that sentenced Loen Entertainment and KT Music, the nation’s largest music streaming service providers, for fixing the prices of digital music sources in 2008, MBN reports.The South Korean Supreme Court has confirmed the original verdict at the appellate court that sentenced Loen Entertainment and KT Music, the nation’s largest music streaming service providers, for fixing the prices of digital music sources in 2008, MBN reports. The companies were fined 100 million won ($89,592) each and the former CEOs of both companies were also fined 10 million won each. The music providers were accused of the illegal conduct by the Korea Fair Trade Commission and referred to prosecutors in 2012. ...

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Fines on Loen, KT Music for price fixing upheld by South Korea's Supreme Court

Prepare for tomorrow’s regulatory change, today

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