Intel Served $25.4M Anti-Trust Fine in South Korea

The Korea Fair Trade Commission (KFTC) of South Korea is said to be preparing to fine Intel Corp. a whopping $25.4M (26 billion won) for violating fair trade regulations.

According to KFTC, it is issuing the fine because it was found out that Intel offered rebates to local computer firms such as Samsung Electronics and other leading computer manufacturers to undermine its main competitor in the region – Advanced Micro Devices Inc. When reached for comments, Intel was of course vehemently denying the ruling.

“We’re disappointed and we completely disagree with the findings,” says Bruce Sewell, Intel senior vice president and general counsel.

This is actually not the first time Intel has been faced with anti-trust issues. In fact, it has faced the same accusation in many other countries, including the European Union, who believe that Intel is abusing its market position and will go to great lengths to maintain that position.

The KFTC has already ordered the semiconductor giant to cease from using rebates to prevent computer manufacturers from using AMD-made CPUs. To this, Intel spokesman Nick Jacobs says, “To ask us to cease and desist behavior which we are not doing and never have done is odd.”

Via Yahoo News

Image via Intel