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2024.05.23 (목)

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HDC Youngchang (CEO Kim Byungchul) Imposes Penalty of 166 Million Won for Setting Lowest Price[IssueDIG UP]

Fair Trade Commission, HDC Youngchang...Attention is focusing on changing digital piano market
Online Digital Piano Market Worries Consumer Damage Due to Price Competition Constraints

 

 

 

Daily Union (Monthly, Korea News Newspaper) Ju-un Journalist | On the 18th, the FTC announced that it had imposed a fine of 166 million won on HDC Youngchang for setting the lowest price for products such as digital pianos.

 

HDC Youngchang is the No. 1 company in the domestic digital piano market, and according to the FTC's investigation, it continuously notified agencies of the lowest sales price through the "Online Management Regulations" that stipulate the lowest online sales price.

 

At the same time, HDC Youngchang imposed penalties such as suspending the supply of products to dealerships when discount sales below the specified price were found, and strengthened penalties to allow the contract to be terminated as online sales increased due to COVID-19.

 

In response, the FTC said it decided to impose such sanctions because it determined that such actions had hampered price discount competition and caused consumer damage. Issue Dig Up



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