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FTC to review Samsung group on cafeteria case investigation

Samsung Welstory (the largest on-site food service provider in the country by revenue and a fully-owned subsidiary of Samsung C&T) was accused of receiving special treatment from the company’s other subsidiaries. Due to accusations, the conglomerate urged the FTC (Federal Trade Commission) for an investigation in 2018.

Earlier this year, the watchdog sent a report to Samsung after a review, informing the company of its decision to report Samsung Electronics and Samsung SDI to the prosecution. However, the move did not target Lee Jae-Yong who is the apparent heir of Samsung Group as well as Samsung C&T.

But as per the latest info, South Korea’s antitrust watchdog is thinking to impose penalties on Samsung Group later this month. However, this punishment will be based on accusations in which the company unfairly favored one of its subsidiaries for in-house cafeteria businesses.

For this, the FTC will hold a two-day meeting around May 26 so that major Samsung subsidiaries can put their viewpoints before the judgment. This decision will also decide the level of punishment for the accused.

Lastly, this information is based on a recent report that shows the meeting might take a day to take place with all nine members present including the chairman. Therefore it could take time to review the latest case as it involves many parties and accusations, with the heated debate between the watchdog and Samsung subsidiaries.

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