Broadcom to appeal S. Korean regulator's fine over unfair Samsung Electronics deal
简介US wireless chipmaker Broadcom Inc. said Monday it plans to seek an appeal against the South Korean ...
US wireless chipmaker Broadcom Inc. said Monday it plans to seek an appeal against the South Korean regulator's decision to slap a 19.1 billion-won ($14.3 million) fine for its unfair business practices against Samsung Electronics Co.
In a statement, Broadcom said it was "disappointed" over the Fair Trade Commission's decision, noting it plans to appeal the case to the Seoul High Court.
The punishment of Broadcom came after the US firm forced Samsung to sign a long-term agreement in 2020 by taking advantage of its market dominance and using unlawful tactics, including cutting off its supply and technical support, according to the FTC.
Under the deal, Broadcom compelled Samsung Electronics to procure its smartphone parts worth $760 million annually from 2021 to 2023 and required the South Korean tech giant to compensate for any shortfall if the purchasing amount falls below that amount.
"Broadcom has been working closely with Korean customers in a fair and lawful manner and has made significant contributions to the innovation and success of the Korean economy and some of its largest technology organizations," the company said in the statement.
"Broadcom worked very closely with the staff of the KFTC to reach a mutually beneficial outcome that is fair and reasonable for all parties involved," it added.
In June, the FTC rejected Broadcom's proposal to voluntarily correct its unfair business practices with 20 billion won, ruling in favor of Samsung.
The regulator earlier said the proposal "fell short as a suitable measure to restore the fair trade order and safeguard the interests of other industry players." (Yonhap)
KT SAT, Korea's sole satellite service provider, announced Wednesday its plan to enhance its ma ...
The 28th Busan International Film Festival came to an end Friday, completing its 10 day-run. The eve ...
지난 2012년 9월 북한 개성 인근 도로에서 수확한 옥수수를 말리고 있다. AP=연합뉴스북한이 무단 철거한 한국 측 금강산 골프장 부지에서 옥수수를 말리는 모습이 포착됐다고 3일 ...
- [Herald Interview] Singer
- KDI slashes 2024 growth to 2.2%
- ‘Gyeongseong Creature’ to lead year
- 49th Seoul Independent Film Festival aims to encourage indie filmmakers working in tough times
- [Herald Interview] Singer
- Han Kang wins Prix Medicis for 'I Do Not Bid Farewell'
- 이동관 탄핵땐 방통위 1명 남아, 방송 재승인·재허가 올스톱
- "중동사태, 특등 전쟁상인 美 때문"…불법무기상 北 적반하장
- 신당 추진 이준석 ‘천아용인’과 회동…김용태 “작전 이해 간다”
- [New on the Scene] Joo Jong
- Seoul shares snap 3
- AI Auction debuts tax consultant chatbot
- Eximbank holds workshop on development financing
- Hyundai looks to repeat late founder’s Mideast success with EVs, hydrogen
- Woori Bank accelerates overseas expansion
- Yoon attends opening of Korean pavilion at Horticultural Expo in Qatar
- 4 North Koreans cross East Sea maritime border in first since 2019
- [Herald Review] Based on true story, 3 boys find justice 16 years delayed in 'The Boys'
- Defense chief, US envoy discuss joint efforts to deter N. Korean threats
- AleXa to perform on Jingle Ball Tour as 1st K
- Book records testimonies of bereaved families, survivors of Itaewon tragedy
- Business sentiment falls in S. Korea over Middle East tensions: poll
- [Herald Interview] Kim Gi
- LG Chem opens research center in US
- Korea's yakgwa booming on back of ‘newtro’ trend, media coverage
- 500 bird strikes reported in past 5 years: data
- Crowd crush victims forced to cope alone
- 이재명, 여·야·정 3자 회동 제안…"바지사장 아닌 尹 직접 나서야"
- LG Energy Solution Q3 net soars on US demand