Lotte, Shinsegae and Hyundai were fined for unfairly shifting marketing costs to tenants.
– Lotte, Shinsegae and Hyundai were fined for unfairly shifting their marketing costs to their store tenants without any prior notification.
– The Fair Trade Commission (FTC) decided to impose fines totaling 648 million won as the unfair activity is a clear breach of law.
– Lotte Shopping was hit hardest with a fine of 337 million won. Shinsegae Simon came in second, facing a fine of 140 million won. Hyundai Department Store also received a fine of 120 million won.
– The FTC pledged to step up its monitoring of major retail players to protect the right of tenants.
Link to the original story: https://koreatimes.co.kr/www/nation/2023/11/419_363926.html?utm_source=fl
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