Liner operators minimize impact of South Korean fines

The liner operators which have been hit by a fine of nearly US$81 million by the Korea Fair Trade Commission are minimizing the financial impact of these. In a disclosure to the Taiwan Stock Exchange, Yang Ming Marine Transport’s general manager, Du Shu-chin, said that the company has been handed a fine of around US$2 million.

Du said: “The company has appointed a lawyer to safeguard its rights and interests, and the penalty has no significant impact on our financial status. We’re discussing the follow-up measures with our lawyers after receiving the official ruling and evaluating the reasons for the ruling.”

Wan Hai Lines informed the Taiwan Stock Exchange that it is facing a fine of around US$9.6 million, but noted that the penalty has no significant impact on the company’s operations and finances. Company spokesperson Laura Su stated that Wan Hai has not received any notification about the KFTC’s grounds for the decision and thus, could not comment on follow-up action.

An Evergreen spokesperson said: “Until now, Evergreen Line has received no official notification of such disciplinary penalties from the KFTC. As a consequence, the content of such reports cannot be clarified. Evergreen will further comment on this issue after receiving the relevant information.”


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