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.
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