Top court upholds antitrust watchdog's $13.8 mil. fine on Broadcom
Korea's top court has upheld the country's antitrust watchdog's decision to impose an 18.6 billion won ($13.8 million) fine on U.S. chipmaker Broadcom Inc. for unfair business practices against Samsung Electronics, sources said Monday. According to the sources, the Supreme Court on Tuesday upheld a lower court ruling against Broadcom in a lawsuit the U.S. company filed against the Fair Trade…
South Korea's top court has ruled in favor of the country's antitrust watchdog, maintaining an 18.6 billion won ($13.8 million) fine imposed on U.S. chipmaker Broadcom Inc. for unfair business practices against Samsung Electronics, according to sources. The Supreme Court's decision on Tuesday re-affirmed a lower court ruling from the previous year, following a lawsuit filed by Broadcom challenging the Fair Trade Commission (FTC) decision.
In 2023, the FTC had penalized Broadcom for leveraging its dominant position to force Samsung to sign a long-term agreement in 2020, demanding Samsung purchase at least $760 million worth of Broadcom's smartphone parts annually from 2021 to 2023. Broadcom contested the FTC's decision in November 2023, but the Seoul High Court sided with the fine in May, deeming it justified.
When an FTC decision is contested, it undergoes review by the Seoul High Court, whose ruling can subsequently be appealed to the Supreme Court.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Top court upholds antitrust watchdog's $13.8 mil. fine on Broadcom koreatimes.co.kr
