US-based chipmaker Broadcom vowed to appeal a ruling by South Korea’s competition watchdog to impose a penally of KRW19.1 billion ($14.4 million) for abusing its dominant market position in the country, expressing disappointment with the decision.
In a statement sent to Mobile World Live, the chipmaker insisted it would appeal the Korea Fair Trade Commission (FTC) ruling to the Seoul High Court, arguing for decades it worked closely with domestic customers in “a fair and lawful manner and has made significant contributions to the innovation and success of the Korean economy, and some of its largest technology organisations”.
The company noted it coordinated with FTC staff to reach “a mutually beneficial outcome that is fair and reasonable for all parties involved”. However, as a result of “the unprecedented intervention of some third parties”, the joint recommendation of Broadcom and FTC staff was not adopted by the commission, it added.
The FTC found Broadcom used unfair tactics to force Samsung to sign a long-term supply agreement.
In June, the FTC rejected a Broadcom proposal to remedy its business practices through a KRW20 billion voluntary correction scheme, Yonhap News Agency reported.