Yonhap reported that South Korea's antitrust regulator Fair Trade Commission in Sejong has decided to impose a combined KWR 233 million (USD 195,800) in fines on three companies for colluding to fix bidding prices over the transport of steel plates. Fair Trade Commission said “Dongbang and two other firms colluded to fix their quotations between 2016 and 2018 for bids on thick plates by the country's largest steelmaker POSCO. Prior to the bidding, the companies colluded to divide the sections over which they will transport the plates and fix the bidding prices. The move helped them log a combined KWR 5.4 billion in revenue.”The FTC said it will closely monitor the situation to prevent similar price collusion from occurring in the transport market.
Yonhap reported that South Korea's antitrust regulator Fair Trade Commission in Sejong has decided to impose a combined KWR 233 million (USD 195,800) in fines on three companies for colluding to fix bidding prices over the transport of steel plates. Fair Trade Commission said “Dongbang and two other firms colluded to fix their quotations between 2016 and 2018 for bids on thick plates by the country's largest steelmaker POSCO. Prior to the bidding, the companies colluded to divide the sections over which they will transport the plates and fix the bidding prices. The move helped them log a combined KWR 5.4 billion in revenue.”The FTC said it will closely monitor the situation to prevent similar price collusion from occurring in the transport market.
