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SEOUL - SOUTH Korea's antitrust watchdog said on Thursday it fined Samsung Electronics Co 11.58 billion won (S$17.2 million) for unfair business practices with parts suppliers.
The commission also fined two Samsung executives 20 million won each for hampering its probe, the commission said in a statement.
The fines involved activities from 2002 to 2005, including pressuring subcontractors to cut prices, the commission said.
James Chung, a Samsung spokesman, said the fine involved Samsung's relationship with vendors that provide it with mobile phone equipment.
'We will decide on our position after we receive the letter of findings via the commission,' he said.
The company can appeal the ruling.
Samsung Electronics is South Korea's largest corporation and the flagship of the Samsung Group industrial conglomerate. It is also the world's second-largest producer of mobile phones. -- AP
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