South Korea's Fair Trade Commission will raise fines for main contractors who unfairly shift industrial accident costs to subcontractors, revising penalty guidelines to classify such violations as "high" severity.
#YonhapInfomax
#FairTradeCommission #SubcontractingAct #IndustrialAccidentCosts #PenaltyGuidelines #Subcontractors
#Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=97162
#SubcontractingAct
The Fair Trade Commission has launched an on-site investigation into Hyundai Rotem over alleged violations of South Korea’s Subcontracting Act, focusing on technical data misuse and unpaid subcontractor fees in the defense sector.
#YonhapInfomax #FairTradeCommission #HyundaiRotem #SubcontractingAct #TechnicalData #DefenseIndustry #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=94606
South Korea's Fair Trade Commission fined DN Automotive Co. 456 million won ($345,000) for unlawfully demanding and misusing subcontractors' technical data, citing violations of the Subcontracting Act.
#YonhapInfomax #FairTradeCommission #DNAutomotive #TechnicalData #SubcontractingAct #456MillionWon #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=92344
South Korea's Fair Trade Commission fined Inpack Co., Ltd. and its affiliate Inpack EPM 96 million won ($70,000) for violating the Subcontracting Act by unjustifiably reducing payments to subcontractors and failing to issue required contracts.
#YonhapInfomax #KFTC #Inpack #SubcontractingAct #PaymentReduction #Fine96MillionWon #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=83773
The Korea Fair Trade Commission has launched an investigation into Hyundai Engineering & Construction over alleged subcontracting violations tied to the presidential residence project, amid suspicions of indirect payment and improper contracting practices.
#YonhapInfomax
#HyundaiEngineeringConstruction #KoreaFairTradeCommission #SubcontractingAct #PresidentialResidence #IndirectPayment
#Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=83689
The Korea Fair Trade Commission fined Hanil Cement, Simmons, and Sidiz 5 million won each for failing to provide written subcontract payment adjustment clauses, citing violations of the Subcontracting Act.
#YonhapInfomax #KoreaFairTradeCommission #HanilCement #SubcontractPayment #AdministrativeFine #SubcontractingAct #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=82805
The Fair Trade Commission has launched a consent decision process for Coupang and its PB subsidiary CPLB over alleged Subcontracting Act violations, with the companies proposing corrective measures and supplier relief worth at least 3 billion won ($2.2 million).
#YonhapInfomax #FairTradeCommission #Coupang #SubcontractingAct #ConsentDecision #SupplierRelief #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=80988
South Korea's National Assembly has passed an amendment to the Subcontracting Act, enabling subcontractors to directly seek court injunctions against unfair trade practices, bypassing the Fair Trade Commission, with the new law set to take effect three months after promulgation.
#YonhapInfomax
#SubcontractingAct #FairTradeCommission #Injunction #UnfairTradePractices #TechnologyMisappropriation
#Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=78955
The Korea Fair Trade Commission (KFTC) will operate an Unfair Subcontract Reporting Center nationwide for 50 days ahead of the Chuseok holiday, aiming to ensure timely payment of subcontract fees to SMEs and prevent violations of the Subcontracting Act.
#YonhapInfomax #KFTC #Chuseok #SubcontractPayment #SmallAndMediumEnterprises #SubcontractingAct #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=76838
The Fair Trade Commission has launched an on-site investigation into POSCO E&C over alleged violations of South Korea's Subcontracting Act, focusing on unfair contract terms with subcontractors, following a series of fatal industrial accidents at the company's construction sites.
#YonhapInfomax #FairTradeCommission #POSCOEandC #SubcontractingAct #IndustrialAccidents #Investigation #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=76295
South Korea's antitrust regulator fined Hyundai Kefico 474 million won ($340,000) for misappropriating SME technology, citing multiple violations of the Subcontracting Act.
#YonhapInfomax #HyundaiKefico #KFTC #SubcontractingAct #TechnologyMisappropriation #474MillionWonFine #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=73333
South Korea's top five entertainment companies, including Hybe, have agreed to implement standard contracts and compliance measures after the KFTC confirmed violations of the Subcontracting Act, marking the first such consent decision in the sector.
#YonhapInfomax #Hybe #KoreaFairTradeCommission #SubcontractingAct #EntertainmentIndustry #ConsentDecision #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=69041
The Korea Fair Trade Commission has launched a consent decision process for Hyosung and Hyosung Heavy Industries over alleged Subcontracting Act violations, with the companies proposing a 3 billion won ($2.2 million) support plan to improve supplier relations and compliance.
#YonhapInfomax #KoreaFairTradeCommission #Hyosung #SubcontractingAct #ConsentDecision #SupplierSupport #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=65782
Fair Trade Commission orders Yeongwha Tech to correct Subcontracting Act violations, including failure to issue written documents and unilateral order cancellation in inverter manufacturing outsourcing
#YonhapInfomax #FairTradeCommission #YeongwhaTech #SubcontractingAct #CorrectiveOrder #InverterManufacturing #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=60679
Fair Trade Commission sanctions Sungji Construction for failing to pay subcontract fees and delay interest, violating Subcontracting Act in knowledge industry center project
#YonhapInfomax #SungjiConstruction #FairTradeCommission #SubcontractingAct #UnpaidFees #DelayInterest #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=55683
Fair Trade Commission sanctions Hyosung Heavy Industries for violating Subcontracting Act by demanding subcontractors pay construction fees, highlighting ongoing efforts to protect subcontractor rights
#YonhapInfomax #HyosungHeavyIndustries #FairTradeCommission #SubcontractingAct #UnfairPractices #ConstructionFees #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=51178
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