Zespri faces US$375,000 fine for monopolistic practices in Korea
New Zealand kiwifruit exporter Zespri is to pay a US$375,000 fine for operating exclusive contracts with Korean supermarket chains.
The Korean Fair Trade Commission (KFTC) confirmed exclusive contracts existed with E-Mart and Lotte Mart and has demanded their immediate suspension.
KFTC found Zespri's practices anti-competitive and said they affected consumers' rights limiting their choice and the free competition of Chilean exports.
The Chilean Kiwifruit committee president Oscar Villegas, welcomed the decision but said it did not provide compensation for the damage to Chilean producers and exporters.
The Committee helped supply the KFTC Â with evidence during its investigation of Zespri's commercial practices.
Photo: Topnews.net.nz
Related stories: Korean Fair Trade Commission investigating Zespri
Zespri takes hold of Korean kiwifruit market: Chile takes notice
Subscribe to our newsletter
