Samsung, LG fined for fixing prices of home appliances
Jan 12, 2012
The state-run antitrust watchdog said Thursday that it has fined local electronics rivals Samsung and LG for fixing the prices of key home appliances. Samsung was fined 25.81 billion won ($22.28 million) and LG 18.83 billion won, according to the Fair Trade Commission. As part of the regulator’s leniency program for first and second declarers, one of the companies will be exempt from the fines, while the other will get 50 percent cuts. The FTC said its investigation started after a voluntary rep