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Zespri fined for anti-competitive behaviour
South Korea
Tuesday 22 November 2011
MD
Zespri has received a heavy fine in Korea for its secret agreements with two supermarket chains to prevent competition for Chilean kiwifruit.
Zespri International, the largest marketer of kiwifruit in the world, was sentenced to a heavy fine for anti-competitive behaviour in South Korea.
The Korean Fair Trade Commission (KFTC) fined the company $500,000 for obstructing competition. The Commission announced the agreement between Zespri and E-Mart (the largest supermarket in Korea) and Lotte Mart (No. 3) not to undercut competitors' kiwifruit from Chile.
The final decision, accompanied possibly by other sanctions takes place in two weeks.
source : nz herald co
