FTC probes 2 major retailers over distribution law compliance
A customer walks in front of an Olive Young store in Seoul, Feb. 11. Yonhap
Korea's antitrust watchdog has launched an investigation into two major retailers over alleged violations of the country's large-scale distribution law, industry sources said Monday.
The Fair Trade Commission (FTC) sent investigators to the headquarters of CJ Olive Young, the leading health and beauty retailer, and Asung Daiso, operator of the discount chain Daiso, which runs around 1,600 stores nationwide.
The FTC is examining whether the companies violated the Act on Fair Transactions in Large Retail Business, sources familiar with the matter said.
Olive Young and Daiso officials, meanwhile, said it is their understanding that the probe is part of a broader review of law compliance.