bid rigging Archives | Be Korea-savvy

FTC Slaps Combined 37.1 Bln Won Fine on Three Auto Parts Suppliers for Bid Rigging

SEJONG, Nov. 6 (Korea Bizwire) — South Korea’s antitrust watchdog said Monday that it has levied a combined 37.1 billion won (US$33.2 million) in fines on three foreign auto parts firms for allegedly rigging bids. Denso Korea Automotive Corp., an auto parts supplying unit of Japan’s Toyota Motor Corp., and Hyundam Industrial Co. owned by [...]

FTC Slaps 796 mln-won Fines on Two Bid Rigging Companies

SEJONG, Aug. 10 (Korea Bizwire) — South Korea’s antitrust watchdog said Thursday that it has imposed a combined 796 million won (US$699,000) in fines on two local electronics part suppliers for rigging bids for public railway construction projects. The two companies — Yookyung Control Co. and Hyukshin Engineering Co. — allegedly colluded to participate in [...]