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South Korea to return KRW 63 bln to Qualcomm following antitrust ruling

2019-03-21 08:32:00| Telecompaper Headlines

(Telecompaper) South Korea's antitrust regulator has canceled part of a penalty of KRW 273 billion (approximately USD 243 million) it previously levied against US mobile chip manufacturer Qualcomm, Yonhap news agency reports. The move by the Fair Trade Commission (FTC) came two months after the Supreme Court ruled that certain periods, during which Qualcomm offered exclusive rebates to LG Electronics in return for the South Korean firm buying its radio frequency chips, should be excluded from the penalty.

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