S. Korean Firms Fined 1.6 Tln Won by Foreign Antitrust Watchdogs

Write : 2014-11-18 18:56:24 Update : 2014-11-18 19:02:41

South Korean companies have been fined about one-point-six trillion won over the past five years by foreign antitrust watchdogs.  

The Fair Trade Commission (FTC) said Tuesday that foreign watchdogs have since 2010 imposed fines totaling one-point-66 trillion won on Korean companies for price fixing and other cartel activities.

The amount represents nearly half the penalties issued to Korean companies during the 19-year-period since 1996.

The FTC said that foreign antitrust watchdogs are stepping up a crackdown on price fixing and other cartel activities.   

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