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CJ CheilJedang fined in sales agent abuse case

( November 7, 2016, 05:32 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission has decided to impose corrective orders and fines of 1 billion won ($875,179) on CJ CheilJedang for allegedly abusing its market dominant position. The company stands accused of stopping its sales agents from selling products at lower prices than the original prices between 2011 and 2014. CJ also allegedly determined each agent's territory stopped transacting with them if they did not follow its orders. The commission stated such conduct was a violation of Clause 23 of the Monopoly Regulation and Fair Trade Act. The regulator's statement, in Korean, is attached....

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