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Thursday, June 5, 2008
Seoul (ANTARA News/Asia Pulse) - South Korea's anti-trust watchdog on Thursday fined U.S. computer chip giant Intel Corp. 26 billion won (US$25.4 million) for violating fair trade regulations.
Intel said it was considering an appeal against the decision. The Fair Trade Commission (FTC) ruled that Intel had abused its dominant market position in transactions under which it offered rebates to computer makers in exchange for sealing exclusive deals and coercing them not to buy products from rivals such as Advanced Micro Devices Inc.
The ruling came amid an ongoing investigation into similar allegations against Intel in the European Union and the United States. In 2005, Japan advised the U.S. tech giant to rectify such anti-competitive practices.
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Labels: Business and Economic, English News
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