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Three executives of Taiwan electronic company found guilty in US for price manipulation

An inauguration of a building sent by Chunghwa Picture Tubes Ltd. to National Chiao Tung University on Dec. 18, 2006. A file photo of Chunghwa Picture...

An inauguration of a building sent by Chunghwa Picture Tubes Ltd. to National Chiao Tung University on Dec. 18, 2006. A file photo of Chunghwa Picture...

(Taiwan News) – Three executives from a Taiwan electronic company and a top-level executive from a South Korean electronic company have confessed to conspire in the manipulation of Liquid Crystal Display (LCD) panel price and will serve prison terms in the United States, United States Department of Justice said Thursday.

In a statement issued by the Department of Justice, the four executives from South Korea’s LG Display and Taiwan’s Chunghwa Picture Tubes Ltd. (中華映管公司) will pay a fine between US$20,000 and US$50,000 and serve a sentence for six to nine months.

The defendants include Lin Chen-hung (林鎮弘), former President, Liu Chi-chun (劉治軍), Lin’s personal assistant and vice general manager, and an executive surnamed Lee of the Chunghwa Picture Tubes Ltd and the executive of LG Display, Chang Suk Chung.

They confessed their roles in a global price manipulation of LCD panel, which is used in television set, computer, cell phone, and other electronic devices.

Deborah Garza, deputy assistant attorney general in charge of anti-trust affairs, said that it was the first case that Taiwanese nationals faced a prison term for violation of Anti-Trust Law in the U.S.

“No matter where the residence of lawbreakers or crime location is, the Department of Justice will clamp down on violators infringing the rights of US consumers,” said Garza.

Chunghwa Picture Tubes Ltd. today said they will not take any actions for the time being, but will provide assistance to the defendants under their request.

Chunghwa Picture Tubes Ltd managed to extricate itself from the case by making an agreement with the Department of Justice last Nov. 13 to pay a fine of US$65 million.

The case was under investigation by the Department of Justice for a period of six years between 2001 and 2006.

Operations of the company will remain unchanged without being influenced by the conviction of company executives, said Chunghwa Picture Tubes.

by Taiwan News, Website Editorial Staff


Updated : 2021-02-28 10:49 GMT+08:00