Regulator fines SKT, its IPTV affiliate over unfair biz practice
SEOUL, Feb. 24 (Yonhap) -- South Korea's antitrust regulator said Wednesday it has decided to fine top mobile carrier SK Telecom Co. and its internet protocol TV subsidiary a combined 6.4 billion won (US$5.7 million) for hampering market competition.
SKT unfairly supported SK Broadband Co. between 2016-2019 when its subsidiary sold the IPTV service program through the top carrier's distribution channels, according to the Korea Fair Trade Commission (KFTC).
SKT paid part of sales fees totaling about 19.9 billion won to retailers that SK Broadband should have shouldered.
The KFTC said the practice helped SK Broadband cement its status as the No. 2 player in the IPTV market.
The regulator plans to order them to correct the business practice and slap a fine of 3.19 billion won each on SKT and SK Broadband.
The watchdog said it will closely monitor large business groups' unfair support to their subsidiaries and take stern measures at any move to hurt market competition.
sooyeon@yna.co.kr
(END)
-
Overdue debut of Korean abstract art pioneer Yoo Young-kuk at Venice Biennale
-
Relax, immerse yourself in scents at Venice Biennale's Korean Pavilion
-
S. Korea marks 30th anniv. of Korean Pavilion at Venice Biennale with contemporary art
-
Ex-Justice Minister Cho slams Yoon's statement on crushing election defeat
-
Artist Lee Bae captures ethereal Korean aesthetics at Venice Biennale
-
Overdue debut of Korean abstract art pioneer Yoo Young-kuk at Venice Biennale
-
Relax, immerse yourself in scents at Venice Biennale's Korean Pavilion
-
Artist Lee Bae captures ethereal Korean aesthetics at Venice Biennale
-
S. Korea marks 30th anniv. of Korean Pavilion at Venice Biennale with contemporary art
-
Yoon, Daegu mayor met to discuss post-election matters: sources
-
Hybe says spinoff attempt by subsidiary label revealed clearly
-
N.K. leader's sister slams joint S. Korea-U.S. military drills
-
(LEAD) N. Korea sends economic delegation to Iran amid suspected military cooperation
-
Pentagon stresses close consultation with S. Korea after simulated N.K. 'nuclear counterattack' drill
-
(LEAD) N. Korea says Kim guided simulated nuclear counterattack drill