FTC, Kim Seung-yeon fined 15.7 billion won for Hanwha Solutions for hiring the company



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Hanwha Solutions was charged with a fine of 15.7 billion won on suspicion of employing a company in which the elder sister of Hanwha Group president Kim Seung-yeon is the largest shareholder and unfairly backs the company by trading a a price higher than the normal price.


The Fair Trade Commission announced on the 8th that Hanwha Solutions will impose a fine of 15.7 billion won and file a complaint to the prosecution for unfair support with a high toll fee and focusing on logistics company Han Express .

FTC, Kim Seung-yeon fined 15.7 billion won for Hanwha Solutions for hiring the company

▲ Hanwha Solutions logo.


Han Express was imposed a correction order and a fine of 7.3 billion won.


The FTC has monopolized Hanwha Solutions’ domestic export container transportation since Hanwha Solutions was a camouflage subsidiary, but continued this transaction after the company was sold to Hanwha Group President Kim Young-hye, the sister Major of Hanwha Group Chairman Kim Seung-yeon. I saw it.


Han Express started as a logistics company affiliated with the Hanwha Group, but in 1989 Hanwha sold its stake and separated from the Hanwha Group.


However, in a 2009 Hanwha Group Black Fund investigation, it was revealed that Hanwha Group Chairman Kim Seung-yeon had a stake in Hanwha Express under the middle name and was convicted by the Supreme Court in 2013.


As a result, in 2009, Taekyung Hwaseong, the largest shareholder of Han Express, sold all of its shares to President Kim Seung-yeon’s older sister, Kim Young-hye and her son, Lee Seok-hwan, to become independent from the Group. Hanwha. Taekyung Hwaseong is also a company that was investigated as a subsidiary of the Hanwha Group in the Hanwha Group’s black funds investigation in 2009.


As of June 30, 2020, as of June 30, 2020, Seok-Hwan Lee is the largest shareholder and CEO with a 20.6% stake in Han Express and Young-Hye Kim is the second largest shareholder with a 20% stake.


According to the Fair Trade Commission, Hanwha Solutions signed a contract with Han Express for a KRW 83 billion container transport contract from June 2008 to March 2019, which is KRW 8 billion more than the normal price.


The FTC saw that Hanwha Solutions did not evaluate the transportation company in the process of signing a contract with Han Express after the sale and that the business department promoted the reduction of transportation costs through public offerings in 2014, but it was lost. .


At the same time, the FTC decided that Hanwha Solutions provided unreasonable support by changing the transportation method of hydrochloric acid and sodium hydroxide, which are produced as by-products from manufacturing facilities, to provide toll tax to Han Express.


From January 2010 to September 2018, Hanwha Solutions changed the transfer of chemicals from factory to dealer by signing a contract with an exclusive tanker transport company from January 2010 to September 2018, the Fair Trade Commission explained.


In this process, it was estimated that Han Express did not play a special role and reaped an unfair profit by collecting about 20% of the toll fee between the agency and the exclusive transport company.


Hanwha Solutions entered into an exclusive deal with Han Express to increase efficiency, and the FTC said the normal price suggested by the FTC was the unit price of a multinational company with great bargaining power, but the FTC did not accept it.


Regarding the transaction structure that gives the tolls, Hanwha Solutions argued that Hanwha Solutions has improved security through integrated Han Express management as there is a safety issue due to the nature of the transportation of hazardous substances.


Hanwha Solutions said, “The FTC is misleading the nature of the matter by saying ‘the same person’s company (the total number)’. Relationship.” [비즈니스포스트 강용규 기자]

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