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Electronics Production | April 28, 2009

LG executive to go to jail for price-fixing

A Korean executive at LG Display has pleaded guilty to charges of price-fixng and will serve 1 year jail time in the USA.

Bock Kwon, Executive VP Sales & Marketing, will also have to pay a around €23000 criminal fine for fixing prices of LCD panels in TVs and computers. This will have to be paid additionally to the €304 million criminal fine that LG has to pay for the price fixing of TFT-LCD with other manufacturers, reports Techradar. This is the second largest anti-trust fine ever to be issued.
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