Daewoo Shipbuilding & Marine Engineering (DSME) was been fined KRW15.3bn ($13.8m) in the latest instance of Korean yards mistreating subcontractors.
DSME forced subcontractors to accept contract prices below labour costs from 2016 through to last year, the Fair Trade Commission (FTC) said yesterday.
Apart from the fine, the FTC said it will sue DSME for breaching fair trade laws.
South Korean shipbuilders have a long history of poor treatment of subcontractors with authorities issuing fines repeatedly over the years.