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 [...]
SEOUL, June 9 (Korea Bizwire) – South Korea’s prosecution has for the first time put on trial online shopping websites for selling what are commonly referred to as ‘plastic surgery coupons’ to customers in collusion with plastic surgery hospitals. Despite the argument that the practice is nothing more than a marketing strategy, South Korean prosecutors [...]
SEOUL, Mar. 3 (Korea Bizwire) – A total of 19 food companies accused of colluding to fix prices for, military food services are on a collision course with government authorities. On March 2, the Korea Fair Trade Commission (KFTC) announced that it had imposed cumulative penalties of 33.5 billion won on 19 companies, including Dongwon Home [...]
SEOUL, Oct. 6 (Korea Bizwire) – Samsung C&T Corporation and Hyundai Development Company, those responsible for building Seoul Subway Line No. 9 are expected to pay a fine for an alleged collusion, adding insult to injury since a sink hole accident found under the construction site has prompted significant public outcry against one of the [...]