Homeplus fined W2.42b for unfair biz activity

South Korea's antitrust regulator said Wednesday it has decided to fine discount store chain Homeplus 2.42 billion won ($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. (Yonhap)