The cut in the fine comes in the wake of a Supreme Court ruling. The Korea Fair Trade Commission has made it clear that it will not tolerate a “monopolist enterprise’s abuse of its market position …”
On Thursday, South Korea’s antitrust regulator the Korea Fair Trade Commission (KFTC) said, it has lowered a decade-old penalty imposed on U.S. chipmaker Qualcomm Inc by 18% to $200 million.
The development comes in the wake of a Supreme Court ruling in January 2019 which overturned one of several lower court rulings against Qualcomm Inc for for abusing its dominant market position.
In 2009, the KFTC had imposed a fine of $242.6 million (273 billion won) on Qualcomm saying it is abusing its dominant market position in CDMA modem and radio frequency chips; at that time these chips were used in Samsung Electronics Co Ltd’s and LG Electronics Inc’s handsets.
In a statement, the KFTC said, it had reset the penalty to reflect the Supreme Court’s ruling, and added, a “monopolist enterprise’s abuse of its market position cannot be tolerated”.
The fine is the latest in a series of antitrust rulings and investigations that is Qualcomm is facing from regulators across the globe.
Qualcomm declined to comment.