Watchdog to Fine Celltrion $469,000 over Unfair Subcontracting Practices

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The Fair Trade Commission announced on the 29th that it will impose a fine of 630 million won and issue a corrective order to Celltrion on charges of unfair business practices, such as canceling manufacturing orders entrusted to subcontractors. According to the FTC on that day, Celltrion arbitrarily canceled the manufacturing entrustment of 3,717 diagnostic kits while terminating a supply contract with a subcontractor in December 2022. It was re…

연합뉴스-Yonhap News Agency

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(Sejong = Yonhap News) Reporter Kim Soo-hyun = Celltrion Inc. [068270] has been sanctioned for acts such as arbitrarily canceling consignment contracts when there was no fault on the part of the subcontractor...

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Celltrion has been fined approximately 600 million won by the Fair Trade Commission for allegedly arbitrarily canceling the manufacturing of over 37 million COVID-19 diagnostic kits despite the subcontractors being at fault. On the 29th, the KFTC stated that Celltrion, on seven occasions between September 2021 and January 2022, [ordered] diagnostic kits from subcontractors

ddaily.co.kr

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[Digital Daily Reporter Hwang Jin-hyun] Celltrion has been sanctioned by the Fair Trade Commission for actions such as arbitrarily canceling consignment contracts when there was no reason to shift responsibility to subcontractors. The Fair Trade Commission announced on the 29th that it has decided to issue a corrective order and impose a fine of 630 million won on Celltrion for unfair cancellation of consignment orders and for failing to issue …

asiae.co.kr

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