THE WHAT? The Fair Trade Commission (FTC) has fined LG Household & Healthcare 307 million won (US$262,400) over allegedly failing to keep commitments at discount events held at franchise branches of The Face Shop, according to a report by Korea JoongAng Daily.
THE DETAILS The South Korean consumer goods company is said to have assured The Face Shop stores between March 2012 and 2016 that it would compensate for its products sold at discount prices.
LG Household & Healthcare is alleged to have offered to pay 70 percent of a product that was discounted by 50 percent.
However, that ratio was reduced to 50 percent for products with discounts of less than 50 percent.
THE WHY? The FTC has found that LG Household & Healthcare paid half of it was owed, stating that over the course of four years the discount events went on for 405 days in total.
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