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 maintained the antitrust watchdog's 18.6 billion won ($13.8 million) fine imposed on U.S. chipmaker Broadcom Inc. for alleged unfair business practices against Samsung Electronics, according to sources on Monday. The Supreme Court on Tuesday affirmed a lower court's decision in a lawsuit filed by Broadcom, which challenged the Fair Trade Commission (FTC) ruling.
In 2023, the FTC had fined Broadcom for leveraging its dominant position to force Samsung to commit to a long-term agreement in 2020. As part of the agreement, Broadcom required Samsung to purchase at least $760 million worth of smartphone components annually from 2021 to 2023, and to compensate Broadcom for any shortfall in purchases below that figure.
Broadcom initiated a lawsuit against the FTC's decision in November 2023. However, in May, the Seoul High Court sided with the FTC, deeming the fine appropriate. When a FTC decision is contested, it undergoes review by the Seoul High Court, with the option to appeal the ruling to the Supreme Court.
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- Top court upholds antitrust watchdog's $13.8 mil. fine on Broadcom koreatimes.co.kr
