Philips, according to the Korea's Fair Trade Commission is the top small appliance company in Korea with a 57% share of the electric toothbrush market, 61% share of the electric shaver market; 45% share of the iron market; and a 31% share of the coffee-maker market.
The Fair Trade Commission has contented that prices have not decreased after the implementation of the Korea-EU Free Trade Agreement, because of price fixing by manufacturers.
Philips is the first EU company to be fined by the Fair Trade Commission.
Other articles on this issue and the Korea Fair Trade Commission:
- FTC to Investigate European Car Makers
- Fines by Fair Trade Commission Increases for Unfair Market Practices
- Nongyup Sues Fair Trade Commission at Seoul High Court
- Korean Fair Trade Commission to Investigate Chaebols (Samsung/LG)
- Price Fixing and FTAs in Korea
IPG is engaged in projects for companies and entrepreneurs doing business in Bangladesh, Cambodia, China, Korea, Laos, Myanmar, the Philippines, Vietnam and the U.S. www.ipglegal.com