Seoul: South Korea's antitrust regulator announced that it has fined leading drugmaker Celltrion Inc. 435 million won (US$309,900) for engaging in unfair business practices. The biopharmaceutical company allegedly provided undue benefits to its affiliate, Celltrion Healthcare, by waiving inventory storage fees and allowing free use of trademark rights. According to Yonhap News Agency, the Fair Trade Commission (FTC) found that these actions by Celltrion undermined fair competition and resulted in financial benefits for Celltrion Healthcare estimated at 1.2 billion won. Despite the findings, the FTC decided not to refer Celltrion Chairman Seo Jung-jin for prosecution, citing the total benefit being less than 5 billion won and ambiguity over whether the chairman was directly involved. Earlier reports from the FTC revealed that among 88 large business groups, including 10 chaebols or family-run conglomerates, Celltrion had the highest ratio of inter-affiliate transactions in 2023 at 65 percent. The FTC's decis ion highlights the ongoing scrutiny of inter-affiliate transactions and the importance of maintaining fair competition practices within South Korea.