The penalties that the state antitrust agency imposed on businesses last year increased more than 26 percent from 2023.

According to the corporate data research firm CEO Score, the Fair Trade Commission(FTC) levied 550-point-two billion won, or around 383 million U.S. dollars, in fines in 2024, up 26-point-five percent year-on-year.

The number of sanctions increased from 111 to 124.

E-commerce giant Coupang and two of its subsidiaries received the heaviest fines, a combined 140-point-two billion won, for manipulating the product search engine on its mobile app to give priority to items produced by affiliated brands.

The companies also allegedly had their executives write purchase reviews for the products.

Food giant CJ got the second-largest fine, 24-point-five billion won, and Hyundai Department Store Group trailed behind in third place with a penalty of 19-point-eight billion won.

Tech giant Kakao ranked fourth with a penalty totaling 15-point-two billion won, after its subsidiary Kakao Mobility had its fine slashed from 72-point-four billion to 15-point-one billion won.