Tag: collusion

collusion

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Six pork suppliers indicted over alleged price-fixing scheme

Prosecutors say suppliers colluded for years to raise pork prices at Emart by at least 20 percent, and also coordinated efforts to try to delete the evidence.

2026.8.4

Supreme Court upholds 5-year sentence for shaman in Kim Keon Hee bribery case

The top court declined to overturn an appeals court ruling against Jeon Seong-bae over a series of gifts given to the former first lady in return for political favors.

2026.7.9

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Instant noodle products are displayed at a supermarket in Seoul in this file photo taken on April 3. [YONHAP]

Antitrust watchdog hits 7 flour producers with $443.8M in fines for price fixing

Korea's antitrust watchdog on Wednesday imposed a combined 671 billion won ($443.8 million) in fines on seven flour producers on charges of price fixing.

2026.5.20

A shopper walks past the egg aisle at a supermarket in Seoul on May 7. [NEWS1]

Korea's egg producers fined for inflating prices, antitrust regulator says

Korea's antitrust regulator has fined the country's main egg producers' association for artificially inflating egg prices, it said Thursday.

2026.5.15

Different brands of flour are being sold at a supermarket in Seoul. [NEWS1]

Gov't to aggressively impose sanctions on companies that repeatedly engage in collusion

The government will aggressively impose sanctions on companies that repeatedly engage in collusion, with measures to effectively drive such firms out of the market, according to the Fair Trade Commission (FTC) on Thursday.

2026.4.23

Fair Trade Commission Chairman Ju Biung-ghi speaks at a meeting of ministers related to managing market prices affecting people's livelihoods held at the government complex in Seoul on April 23. [NEWS1]

6 paper manufacturers fined 338.3 billion won for price fixing

Six paper manufacturers were fined a total of 338.3 billion won ($228.8 million) for price collusion, the head of the antitrust watchdog said Thursday.

2026.4.23

This image combines the corporate logos of Hyundai Motor, Kia, Cubic Korea. and SM Hwajin. [YONHAP]

Antitrust regulator fines two suppliers combined 2.59 billion won for rigging Hyundai, Kia contract bids

The antitrust regulator said Wednesday it has decided to fine two local suppliers to Hyundai Motor and Kia a combined 2.59 billion won ($1.75 million) for colluding to rig bids.

2026.4.22

A driver is seen refueling his vehicle at a gas station in Seoul on April 15. [NEWS1]

FTC chief reports that probe into gas station price-fixing is almost complete

Korea's antitrust watchdog will soon complete its investigation of gas station price-fixing and collusion.

2026.4.15

Sugar is displayed at a large supermarket in Seoul on Feb. 12.. [YONHAP]

Sugar, flour prices drop on heels of Lee's 'collusion' warnings and pending price-fixing investigations

Major sugar refiners and flour millers in Korea have cut prices in quick succession this month. The timing underscores mounting political and legal pressure on an industry long accused of coordinated pricing.

2026.2.19

President Lee Jae Myung speaks during a senior secretaries' meeting at the Blue House in central Seoul on Feb. 19. [JOINT PRESS CORPS]

Lee vows to 'root out' business collusion on prices, competition

President Lee Jae Myung on Thursday vowed strong action against companies that collude to raise prices or limit competition in the market, warning that the government will "root out" such practices.