Broadcom to appeal S. Korean regulator's fine over unfair Samsung Electronics deal
US wireless chipmaker Broadcom Inc. said Monday it plans to seek an appeal against the South Korean regulator's decision to slap a 19.1 billion-won ($14.3 million) fine for its unfair business practices against Samsung Electronics Co.
In a statement, Broadcom said it was "disappointed" over the Fair Trade Commission's decision, noting it plans to appeal the case to the Seoul High Court.
The punishment of Broadcom came after the US firm forced Samsung to sign a long-term agreement in 2020 by taking advantage of its market dominance and using unlawful tactics, including cutting off its supply and technical support, according to the FTC.
Under the deal, Broadcom compelled Samsung Electronics to procure its smartphone parts worth $760 million annually from 2021 to 2023 and required the South Korean tech giant to compensate for any shortfall if the purchasing amount falls below that amount.
"Broadcom has been working closely with Korean customers in a fair and lawful manner and has made significant contributions to the innovation and success of the Korean economy and some of its largest technology organizations," the company said in the statement.
"Broadcom worked very closely with the staff of the KFTC to reach a mutually beneficial outcome that is fair and reasonable for all parties involved," it added.
In June, the FTC rejected Broadcom's proposal to voluntarily correct its unfair business practices with 20 billion won, ruling in favor of Samsung.
The regulator earlier said the proposal "fell short as a suitable measure to restore the fair trade order and safeguard the interests of other industry players." (Yonhap)
(责任编辑:예술)
- ·김성원 여의도연구원장 "공천장사 지라시, 허위사실 유포로 고소"
- ·BTS' Jungkook to drop new single '3D'
- ·Dodgers prospect trying to fit in with S. Korean nat'l baseball team
- ·Seoul shares close lower amid woes over Fed's drawn
- ·Foreign workers' deaths get weak sanctions
- ·[Photo News] Mudeungsan fully opens door to public after 57 years
- ·[Book Review] 'Lee Kun
- ·[Korea Beyond Korea] Early Korean history remains virtually unknown abroad
- ·Foreign workers' deaths get weak sanctions
- ·PM departs for China for Asian Games, meeting with Xi
- ·'Apgujeong Box Girl' sparks online debate
- ·Surveillance cameras to be a must in hospital operating rooms
- ·Opposition head pleads for support in ‘fight against Yoon dictatorship’
- ·PM departs for China for Asian Games, meeting with Xi
- ·Foreign workers' deaths get weak sanctions
- ·Golden apples: Why fruit prices are national issue in early autumn
- ·PM to meet with Xi on sidelines of Asian Games in Hangzhou
- ·[Weekender] Behind the scenes of Korean food crazes
- ·Over 1,300 rescue workers still traumatized by Itaewon Halloween tragedy
- ·[Korea Beyond Korea] 'Funding drought jeopardizes interest in ancient Korea studies in US'