FTC fines 48 firms $17M for collusion in built-in furniture bids

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Published: 29 Dec. 2025, 14:11 Updated: 29 Dec. 2025, 14:35

The Fair Trade Commission logo is seen at the agency's office in the government complex in Sejong on April 25, 2023. [NEWS1]

The antitrust regulator said Monday it has decided to fine 48 furniture manufacturers and suppliers for allegedly colluding in bids for built-in furniture ordered by construction firms.

The companies will be fined a combined 25 billion won ($17.4 million) for colluding to predetermine winning bidders or bid prices between September 2013 and May 2022, according to the Fair Trade Commission (FTC).

The FTC said the collusion was widespread, occurring in 240 bidding processes ordered by 54 construction companies.

Enex will face the largest penalty of 5.84 billion won, followed by Hanssem, which was fined 3.8 billion won, the regulator said.

Built-in furniture refers to fixtures, such as kitchen cabinets and built-in closets, that are installed inside apartments and offices during construction.

Yonhap