3 publishers · first seen Thu, 29 Oct 2026 08:03 UTC · updated Thu, 29 Oct 2026 11:32 UTC
South Korea's Fair Trade Commission (FTC) said it will impose a 630 million-won ($469,000) fine on Celltrion Inc. for unfairly canceling orders and failing to provide a subcontractor with required documents on time. The company placed seven orders for COVID-19 test kits between September 2021 and January 2022, changed product types without issuing legally required documents, and unilaterally canceled orders for 37.17 million undelivered test kits on December 26, 2022, despite no fault by the subcontractor.
The FTC will also issue a corrective order, citing violations of the Fair Transactions in Subcontracting Act. Celltrion plans to take legal action, calling the matter a civil dispute different in nature from cases subject to fair trade laws, and said it will review its subcontracting practices and work to ensure business transparency.
Content auto-generated. May contain inaccuracies.