The South Korean Fair Trade Commission (FTC) has launched an investigation lucrative contracts from manufacturer LG, reports news agency Yonhap on Tuesday. The contracts lead to unfair competition.
The commission shall examine whether LG certain organizations very favorable deals offered, that for small companies, make it impossible to compete. It is not known to which businesses are going.
According to the FTC, “are of this type. healthy competition and the free market in the road”. LG confirms that there is an investigation in progress, but wanted to continue not on the details.
If LG is found guilty to promoting unfair competition, the company may face penalties of up to 5 percent of the annual turnover.
LG produces electronics, including smartphones and televisions. The company had in 2018, with a turnover of 47.9 billion euro.
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