Korea Joongang Daily
Korea JoongAng Daily

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.

2026-04-23

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.

2026-04-23

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.

2026-04-22

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.

2026-04-15

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.

2026-02-20

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.

2026-02-19

FTC slaps $277M fine on top 3 sugar makers for oligopoly, collusion

Three companies that dominated Korea’s sugar market were slapped with fines totaling more than 400 billion won ($277 million) for allegedly colluding on prices for about four years and reaping illicit gains.

2026-02-12

52 executives indicted for fixing prices of flour, sugar, electrical parts

The prosecution said Monday it has indicted 52 executives at a dozen companies since last September on charges of collusion in fixing flour and sugar prices, as well as for rigging bids for electrical components.

2026-02-02

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

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.

2025-12-29

FTC probes four major banks for collusion on loan terms

Korea’s antitrust watchdog is investigating the country's four largest banks for potential collusion when extending loans.

2024-01-08