Industry
Lotte Shopping fined for unfair practices toward suppliers at Lotte Mart, FTC says
South Korea’s Fair Trade Commission said on March 15 it decided to fine Lotte Shopping 569 million won for violating the law governing fair trade in large-scale retail distribution. The watchdog said Lotte Shopping failed to promptly issue contracts, paid suppliers after statutory deadlines without paying about 34 million won in late interest, and returned goods without required documentation. It also found improper employee dispatch before agreements were signed.
