|A South Korean man walks past an Intel banner at an electronic appliance shop in Seoul, South Korea, Wednesday, Dec. 10, 2008. Intel Corp. said Wednesday it is taking South Korea's fair trade watchdog to court over a decision to fine the semiconductor giant for undercutting competitors.|
Intel Corp. said Wednesday it is taking South Korea's fair trade watchdog to court over a decision to fine the semiconductor giant for undercutting competitors. Intel filed a formal complaint at the Seoul High Court to try and overturn the Korea Fair Trade Commission decision, the Santa Clara, California-based company said in a statement.
Intel is the world's No. 1 maker of microprocessors, the brains of personal computers. The company said it was reacting to a final written decision by the commission last month ordering Intel to pay 26.6 billion won ($18.6 million) for violating fair trade rules.
The regulator ruled that Intel paid rebates to South Korean computer companies to undercut main rival Advanced Micro Devices Inc. of Sunnyvale, California.
The commission charged Intel last year with violating antitrust laws after completing a two-year probe and released an initial decision in June. Intel spokesman Nick Jacobs said the company sees the legal action as an "opportunity to demonstrate that our business practices are fair and lawful."
The company has consistently denied the accusations of wrongdoing. "Our prices have always been above cost and profitable," Jacobs said.
Asked to comment on Intel's move, a spokesman for the commission said only that it would watch what happens in court.