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POSCO E&C abuse subcontractors, Fair Trade Commission imposes penalty ANI | Updated: May 06, 2021 10:58 IST
Seoul [South Korea], May 6 (ANI/Global Economic): As POSCO E&C entrusted its work to a subcontractor >subcontractor, it made unfair special contracts and did not pay interest on the subcontract.
The FTC announced on Wednesday that it has decided to impose a correction order (prohibition of recurrence in the future) and a penalty of 14 million won for violations of POSCO E&C s Subcontract Act (Act on Fair Subcontract Transactions). Regarding the reason for not making the complaint, the Fair Trade Commission explained that the standards of the Fair Trade Act (Monopoly Regulation and Fair Trade Act) prosecution guidelines have not been exceeded .
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