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SEOUL, Jan. 8 (Yonhap) — South Korea’s antitrust regulator announced Sunday that it has decided to fine GS Retail Co. 1.58 billion won (US$1.24 million). home shopping channel.
Punishment came as supermarket chain operator According to the Fair Trade Commission (FTC), the company held a promotional event on the home shopping channel GS shop without proper consultation with the supplier.
After reaching an agreement to share a specified portion of marketing costs for products sold through its channels, GS Retail unilaterally rolled out unscheduled promotions 30 minutes before and after the show, according to regulators. , resulting in a higher burden on suppliers.
According to the FTC, GS Retail asked suppliers to pay KRW 1.97 billion in marketing costs in more than 9,300 cases from 2017 to 2022.
The FTC said in a statement that “this action is important because it reveals tactics that retailers use to pass on promotional costs to suppliers in shady ways.” “We expect this move to help improve trading practices in the future.”
This file photo shows the logo of GS Retail Co. and its home shopping channel, GS Shop. (Photo not for sale) (Yonhap)
colin@yna.co.kr
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