The Face Shop colludes in bidding for stores in Busan Metro... Correction order and a fine of 82 million KRW

[Sejong=Asia Economy Reporter Joo Sang-don] The Fair Trade Commission announced on the 29th that it has decided to impose a corrective order and a total fine of 82 million KRW on The Face Shop for colluding with the predetermined winning bidder and bid price in the lease bidding for a cosmetics specialty store commissioned by Busan Transportation Corporation in June 2015.

According to the Fair Trade Commission, The Face Shop and Gain Distribution agreed that Gain Distribution would act as a front to allow The Face Shop to win the lease bidding for the cosmetics specialty store commissioned by Busan Transportation Corporation in June 2015. Gain Distribution, which accepted The Face Shop's request to participate in the bidding, submitted a bid at the price notified by The Face Shop, and ultimately The Face Shop won the bid.

A Fair Trade Commission official stated, "This case is significant in that it detected and sanctioned businesses that colluded in the lease bidding for cosmetics specialty stores within subway stations, which are closely related to citizens' daily life and economic activities," and added, "We will continue to strengthen monitoring to prevent collusion in lease-related bidding owned by public institutions, and strictly sanction any detected collusion."

This content was produced with the assistance of AI translation services.