▲ This image, provided by Yonhap News TV, shows the exterior of the Korea Fair Trade Commission in the central administrative city of Sejong. (Yonhap)

regulator-Homeplus

Homeplus fined 2.42 bln won for unfair biz activity

SEOUL, Feb. 9 (Yonhap) -- South Korea's antitrust regulator said Wednesday it has decided to fine discount store chain Homeplus 2.42 billion won (US$2 million) for unfairly passing on sales promotion costs to its subcontractors.

Homeplus Express, a supermarket unit of Homeplus, made 45 suppliers shoulder the costs worth around 1.7 billion won in 2017-2020 without related prior contracts, according to the Fair Trade Commission.

The regulator said it will closely look into alleged unfair business practice by other retailers.

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