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S. Korean firm ordered to halt exports of interchangeable lenses

2017/07/17 15:44

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SEOUL, July 17 (Yonhap) -- A government body in charge of trade remedies and anti-dumping tariffs ordered a South Korean firm on Monday to suspend exports of interchangeable lenses for six months over alleged unfair business practices.

The ruling against the company came after about 10 months of investigation by the Korea Trade Commission (KTC) into the suspected business practices, KTC said in a statement without identifying the company by name.

The company, the authorities did not identify, was set up in August 2014 after recruiting professionals from its competitor. It has been accused of producing interchangeable lenses by using the competitor's commercial secrets, including designs of the lenses, according to KTC officials.

The name of the competitor is also being withheld.

KTC officials said the company had exported the interchangeable lenses to Poland.

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