Lotte most frequent violator of fair trade laws: watchdog data

[THE INVESTOR] Lotte Group was the most frequent violator of Korean fair trade laws among the country’s top 10 conglomerates, according to a local legislator on July 11.

Citing data from the Fair Trade Commission, Yoo Eui-dong of Saenuri Party said Lotte violated related laws on 73 different occasions between 2013 and 2015.

This was the highest among the 10 largest industrial groups in South Korea.

Of the 93 Lotte affiliates, Lotte Shopping’s violations reached nine, followed by Woori Homeshopping with eight and Lotte Dotcom with five. Lotte acquired a controlling stake in Woori Homeshopping in 2006.

Following Lotte -- the country’s fifth-largest conglomerate -- were Hyundai Motor, SK Group, GS Group, Samsung Group, POSCO, LG Group, Hanwha Group, Hyundai Heavy Industries and Hanjin Group, in that order.

By Kim Ji-hyun (jemmie@heraldcorp.com)