Market Chatter: South Korea's FTC Slaps KRW435 Million Fine on Celltrion for Unfair Business Practices

MT Newswires Live

Dec 04, 2024

South Korea's antitrust regulator, the Fair Trade Commission (FTC), imposed a fine of 435 million won on Celltrion (KRX:068270) for being involved in unfair business practices, Yonhap News reported Tuesday.

The FTC accused the company of unfairly aiding its affiliate Celltrion Healthcare by waiving storage fees and allowing free trademark use, granting benefits worth 1.2 billion won.

However, Chairman Seo Jung-jin will not face prosecution, the FTC decided, citing that the total benefit was under 5 billion won, and it remained uncertain whether the chairman was directly instructed or involved in the actions, the report said.

Shares of Celltrion fell over 2% in recent trade on Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FTC.AU","symbol_name":"FinTech Chain Limited","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2488187713","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488187713","pubTimestamp":1733285756,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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