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6 paper manufacturers fined 338.3 billion won for price fixing

Published: 23 Apr. 2026, 11:42 Updated: 23 Apr. 2026, 11:55

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]

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.

Fair Trade Commission (FTC) Chairman Ju Biung-ghi reported the decision to a meeting of ministers related to managing market prices affecting people's livelihoods, noting that the watchdog will also order the companies to reset their prices independently and refer them to the prosecution.

Hansol Paper and five other companies were found to have colluded to fix prices of printing paper used in the education and publishing sectors for nearly four years.

The decision comes as the government intensifies its efforts to crack down on collusion and unfair practices in markets for essential items.

During Thursday's meeting, the FTC said it will push for stronger punitive measures against companies that get involved in collusion cases repeatedly.

Yonhap