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South Korea reduces decade-long Qualcomm fine to $200M

South Korea's antitrust regulator has reduced a decade-old fine imposed against Qualcomm Inc. by 18%, in response to an action by the U.S. Supreme Court, Reuters reported, citing the Korea Fair Trade Commission.

The penalty was lowered to $200 million, from about $242.6 million, following a move by the U.S. top court in January to reverse a lower court ruling against Qualcomm for abusing its dominant market position in CDMA modem and radio frequency chips.

The modem and chips were then used by phone makers Samsung Electronics Co. Ltd. and LG Electronics Inc.

In a separate ruling, Qualcomm and its affiliates also received a fine of 1.03 trillion South Korean won in 2016 from the KFTC for failing to properly negotiate the terms of its licenses.

As of March 20, US$1 was equivalent to 1,129.12 South Korean won.