Monopolistic Businesses Face Sanctions if They Sell at Unreasonably High Prices Domestically Compared to Overseas.
4 Articles
4 Articles
The Fair Trade Commission announced on the 6th that it will impose sanctions on monopolistic or oligopolistic businesses for unfairly determining or maintaining product and service prices. Currently, only the act of unfairly changing prices is prohibited. The KFTC announced on the same day that it would issue a legislative notice for an amendment to the Enforcement Decree of the Fair Trade Act, which includes these provisions. The notice period …
(Sejong = Yonhap News) Reporter Kim Soo-hyun = From now on, if monopolistic or oligopolistic businesses unfairly set prices higher in the domestic market than in overseas markets, or if product prices during periods of rising costs...
[Digital Daily Reporter Hwang Jin-hyun] The Fair Trade Commission (FTC) will regulate unfair price determination and maintenance, anti-competitive tying, and the unfair use of non-public information by monopolistic and oligopolistic businesses. It will also add acts of consumer exploitation and acts that hinder the business activities of competitors to the scope of regulation. The FTC announced on the 6th that it will issue a legislative notice…
Going forward, monopolistic or oligopolistic businesses may face sanctions from the Fair Trade Commission if they maintain high product prices during periods of declining costs or charge unfairly higher prices domestically than overseas. Acts such as forcing unfavorable transaction conditions on consumers or degrading product quality will also be subject to sanctions. On the 6th, the KFTC announced that it will issue a legislative notice for the…
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