Korea’s Fair Trade Commission has fined six LCD makers and their subsidiaries for unfair trade practices by rigging the LCD panel prices. Korea FTC ruled that LCD makers like Samsung Electronics, Samsung Electronics Taiwan, Samsung Japan, LG Display, AU Optronics, Chi Mei Innolux Display Corp, Chunghwa Picture Tubes and Hannstar Display secretly agreed on fixing LCD panel prices and reducing LCD panel output for a period from September 2001 to 2006.
Korea FTC also said that such an illegal practice “seriously affected the Korean market” and has thus fined companies with a US$175m fine.
The fine levied to Samsung and its subsidiaries is bigger than the rest of the companies.
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