ID :
186502
Sun, 06/05/2011 - 05:30
Auther :
Shortlink :
https://oananews.org//node/186502
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S. Korea collected 2.7 tln won in penalties last year
SEOUL (Yonhap) - The government's collection of penalties amounted to more than 2.7 trillion won (US$2.5 billion) last year, marking the highest total ever as the nation toughened its punishment on unfair market practices, a government report showed Sunday.
According to the report submitted by the government to parliament, the revenue from fines and other types of penalties from such misdemeanors as violations of traffic laws and parking rules came to 2.72 trillion won last year, up 280.9 billion won, or 11.6 percent, from a year earlier.
The amount also marked the fourth straight year that it has exceeded the 2 trillion won mark.
The increase stemmed mostly from higher-than-expected penalties collected by the Fair Trade Commission (FTC) on antitrust activities, the report showed.
The FTC expected to collect 372.7 billion won in penalties but its toughened stance on unfair business activities led to the imposition of 881.8 billion won in penalties, of which 507.6 billion won was collected last year, the report showed.
The National Police Agency imposed a total of 2.19 trillion won last year mostly from violations of traffic laws and other misdemeanors but it ended up collecting only 644.1 billion won, according to the report.
According to the report submitted by the government to parliament, the revenue from fines and other types of penalties from such misdemeanors as violations of traffic laws and parking rules came to 2.72 trillion won last year, up 280.9 billion won, or 11.6 percent, from a year earlier.
The amount also marked the fourth straight year that it has exceeded the 2 trillion won mark.
The increase stemmed mostly from higher-than-expected penalties collected by the Fair Trade Commission (FTC) on antitrust activities, the report showed.
The FTC expected to collect 372.7 billion won in penalties but its toughened stance on unfair business activities led to the imposition of 881.8 billion won in penalties, of which 507.6 billion won was collected last year, the report showed.
The National Police Agency imposed a total of 2.19 trillion won last year mostly from violations of traffic laws and other misdemeanors but it ended up collecting only 644.1 billion won, according to the report.
